DO-IT-YOURSELF SOLAR

Akeena to sell solar panels at retailer Lowe's; All-in-one panels to sell at 21 Lowe's stores for $893
Laura Isensee (w/Andre Grenon and Steve Orlofsky), December 10, 2009 (Reuters)

"Akeena Solar Inc will start selling its all-in-one solar panels at Lowe's Cos Inc retail stores in California…as the company looks to boost revenue.

"…[Akeena] hopes to break even by selling panels at retail stores and to installers…in addition to its traditional installation business…The move puts the company in competition with the likes of SunPower Corp in selling panels… [It is not clear] when Akeena expects to break even or how much revenue is expected from the new retail sales…[but] expects a 15 percent gross margin on panels sold through Lowe's."

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"Akeena's panels…[are now on shelves] at 21 Lowe's home-improvement stores in California. Each panel will sell for $893 and can plug into a regular electrical outlet, generating 175 watts or enough electricity to power a computer or 42-inch flat screen television…The panel's price falls to $625 after federal tax credits and could drop more depending on state incentives."

[Barry Cinnamon, CEO, Akeena Solar:] "The biggest significance is that now people can buy one panel or three or four panels (and spend) a few thousand dollars as opposed to tens of thousands of dollars…"

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"...CEO Cinnamon said] the company was actively trying to sell its solar panels [branded Andalay and manufactured by Suntech Power Holdings Co Ltd] through big-box retailers…[The panels] have 80 percent fewer parts to install than comparable products, reducing inventory logistics.

"The panels include inverters -- supplied by privately held Enphase Energy -- that convert the direct electrical current to the alternating current used by household appliances. Akeena has struggled to turn a profit and posted a narrower-then-expected quarterly loss in October…"