Los Angeles, California United StatesPUMA North America and Premier Power Renewable Energy have completed a 1.9 megawatt (MW) solar energy system in greater Los Angeles. The two Brookvale International buildings, in Carson and Torrance, are part of PUMA North America’s warehouse and distribution facilities.
The high performance solar installations have used over 8,500 high efficiency solar photovoltaic panels covering nearly 340,000 square feet of roof-top area converting them into clean energy producing sites. The light-gauge steel, customer designed racking system, designed and installed by Premier Power, allowed to optimize roof space while used fewer ballast blocks than traditional system. Given the optimal design of the roof-mounted solar system, Puma will receive the advantageous electricity production, which will allow them to stabilize long-term electricity rates, ultimately benefiting its customers, employees and the local communities.
“PUMA is certainly a significant trendsetter in sportlifestyle, a true leader in sustainability and environmental concerns and now with the solar power installations, a true advocate of renewable energy helping shape consumers’ and suppliers’ minds to a much greener supply chain,” said Dean Marks, Chief Executive Officer at Premier Power. “Our engineering team designed this unique racking system as a solution out of our European operations and felt that the design and capabilities provided the best option for meeting the site characteristics and production needs of PUMA.”
“PUMA’s mission is to be the most desirable and sustainable SportLifestyle company in the world,” said Helmut Leibbrandt, Senior Vice President of Operations at PUMA North America. “The solar energy system installed in our California facilities continues to reinforce our beliefs and principles.”
Check out more and get a Free Report ~ http://solarpanelsenergysystems.com/
Tuesday, May 31, 2011
Thursday, May 26, 2011
SunPower System Dedicated at Macy's Arizona Fulfillment Center ...05.26.2011
Goodyear, Arizona United StatesMacy's, Inc., SunPower Corporation and Arizona Public Service (APS) today dedicated a 3.5–megawatt solar power system at the Macy's online fulfillment center in Goodyear, Ariz.
"At Macy's, Inc., we believe that contributing to a more sustainable environment is good business practice and the right thing to do for future generations. Our comprehensive approach involves everyone around us including our customers, associates and vendors. We are pleased to begin achieving significant operational savings today in Goodyear, Ariz., while supporting Macy's overall environmental goals," said Peter Longo, president of Macy's Logistics and Operations.
"The city of Goodyear commends Macy's and APS for supporting renewable energy, and bringing this very significant SunPower solar power system to our community," said Goodyear Mayor Georgia Lord. "As a source of emission-free electricity and economic development, solar power makes sense in Goodyear."
SunPower designed and installed the system and is providing on-going operations and maintenance services. The system features the SunPower®T5 Solar Roof Tile, the solar industry's first non-penetrating rooftop product that combines a high-efficiency solar panel, frame and mounting system into a single pre-engineered unit. Tilted at a five-degree angle, the T5 Roof Tile system approximately doubles the energy generated per square meter compared to other systems that are mounted flat onto commercial rooftops.
According to estimates provided by the U.S. Environmental Protection Agency, the Goodyear system is expected to offset more than 3,500 tons of carbon dioxide emissions per year, which is equivalent to removing more than 600 cars from Arizona's highways each year.
"We applaud Macy's for its leadership in environmental sustainability and corporate responsibility," said Jim Pape, president of SunPower's residential and commercial business group. "As a SunPower customer since 2007, Macy's understands the guaranteed performance delivered by solar technology, and the bottom line benefits it reliably generates."
APS, Macy's local energy provider at Goodyear, helped make the system more affordable by providing financial rebates through the APS Renewable Energy Incentive Program. The program offers rebates to customers who add renewable energy systems to their homes or business. The rebates are the mechanism through which APS is purchasing the renewable energy credits associated with the system.
More information ~ http://www.solarpanelsenergysystems.com/
"At Macy's, Inc., we believe that contributing to a more sustainable environment is good business practice and the right thing to do for future generations. Our comprehensive approach involves everyone around us including our customers, associates and vendors. We are pleased to begin achieving significant operational savings today in Goodyear, Ariz., while supporting Macy's overall environmental goals," said Peter Longo, president of Macy's Logistics and Operations.
"The city of Goodyear commends Macy's and APS for supporting renewable energy, and bringing this very significant SunPower solar power system to our community," said Goodyear Mayor Georgia Lord. "As a source of emission-free electricity and economic development, solar power makes sense in Goodyear."
SunPower designed and installed the system and is providing on-going operations and maintenance services. The system features the SunPower®T5 Solar Roof Tile, the solar industry's first non-penetrating rooftop product that combines a high-efficiency solar panel, frame and mounting system into a single pre-engineered unit. Tilted at a five-degree angle, the T5 Roof Tile system approximately doubles the energy generated per square meter compared to other systems that are mounted flat onto commercial rooftops.
According to estimates provided by the U.S. Environmental Protection Agency, the Goodyear system is expected to offset more than 3,500 tons of carbon dioxide emissions per year, which is equivalent to removing more than 600 cars from Arizona's highways each year.
"We applaud Macy's for its leadership in environmental sustainability and corporate responsibility," said Jim Pape, president of SunPower's residential and commercial business group. "As a SunPower customer since 2007, Macy's understands the guaranteed performance delivered by solar technology, and the bottom line benefits it reliably generates."
APS, Macy's local energy provider at Goodyear, helped make the system more affordable by providing financial rebates through the APS Renewable Energy Incentive Program. The program offers rebates to customers who add renewable energy systems to their homes or business. The rebates are the mechanism through which APS is purchasing the renewable energy credits associated with the system.
More information ~ http://www.solarpanelsenergysystems.com/
Wednesday, May 25, 2011
GT Solar Reports Financial Results ...05.24.2011
Merrimack, New Hampshire United StatesGT Solar has reported results for its fourth quarter and fiscal year 2011, which ended April 2, 2011.
Revenue for the fourth quarter of fiscal 2011 totaled $271.6 million, compared to $262.9 million in the third quarter of fiscal 2011 and $194.7 million in the fourth quarter of fiscal 2010. Revenue by business segment for the fourth fiscal quarter of 2011 was $79.2 million in polysilicon, $186.0 million in photovoltaic (PV), and $6.4 million in the sapphire segment, all of which was sapphire materials revenue. Revenue for fiscal 2011 was $899.0 million, approximately 65% growth over fiscal 2010 revenue of $544.2 million. Revenue by business segment for fiscal 2011 was $143.6 million in polysilicon, $740.1 million in photovoltaic (PV), and $15.3 million in the sapphire segment, all of which was sapphire materials revenue.
Gross profit for the fourth quarter of fiscal 2011 totaled $116.9 million, or 43.0 percent of revenue, compared to $122.1 million, or 46.4 percent of revenue in the third quarter of fiscal 2011 and $73.1 million, or 37.5 percent of revenue for the fourth quarter of fiscal 2010. Gross margin for fiscal 2011 was 42.0 percent with a gross profit of $378.0 million compared to a gross margin of 40.2 percent and gross profit of $219.0 million for fiscal 2010.
Operating margin for the fourth quarter of fiscal 2011 was 30.5 percent of revenue, compared to 36.1 percent of revenue in the third quarter of fiscal 2011 and 28.4 percent in the fourth quarter of fiscal 2010. Operating margin for fiscal 2011 was 30.4 percent, compared with 26.5 percent in fiscal 2010.
The company had net income of $51.9 million in the fourth quarter of fiscal 2011 compared to $63.6 million in the third quarter of fiscal 2011 and $33.3 million for the fourth quarter of fiscal 2010. Earnings per share in the fourth quarter of fiscal 2011 on a fully-diluted basis were $0.41, versus $0.46 for the third quarter of fiscal 2011 and $0.23 for the fourth quarter of fiscal 2010. Net income for fiscal 2011 was a record $174.8 million compared to $87.3 million for fiscal 2010. This resulted in a fully diluted EPS of $1.24 per share for fiscal 2011, more than double the fully diluted EPS for fiscal 2010 of $0.60 per share.
Cash and cash equivalents at the end of the fourth quarter of fiscal 2011 were $362.7 million, up from $320.4 million dollars of cash and cash equivalents at the end of the third quarter of fiscal 2011 and $250.7 million of cash, cash equivalents and short-term investments at the end of the fourth quarter of fiscal 2010. In addition, we had debt of $120.3 million at the end of the fourth quarter of fiscal 2011, down from $125.0 million of debt at the end of the third quarter of fiscal 2011 and no debt at the end of the fourth quarter of fiscal 2010.
As of April 2, 2011, the company’s backlog was $1.19 billion, with $536.7 million in the polysilicon segment, $468.1 million in the PV segment and $184.2 million in the sapphire segment. Included in the total backlog was $445.5 million of deferred revenue. Net new orders for the quarter were $234.2 million, which included $14.7 million in polysilicon, $125.1 million in PV and $94.4 million in sapphire.
The company raised its fiscal 2012 guidance for revenue to a range of $1.0 billion to $1.1 billion, up from the previously provided range of $850 million to $1.0 billion. Based on estimated weighted average diluted shares outstanding of approximately 131 million for the full fiscal year, fully diluted earnings per share are expected to be in the range of $1.55 to $1.85, up from the previously provided range of $1.25 to $1.50. The company expects gross margins for fiscal year 2012 to be in the range of 42 percent to 44 percent.
“Our strong fourth quarter performance caps an outstanding year for GT and its shareholders,” said Tom Gutierrez, president and chief executive officer. “We achieved record revenues in fiscal year 2011 on 65 percent year-over-year growth and we more than doubled our earnings per share. We concluded the year with a strong balance sheet and cash position, while utilizing $203.5 million of cash to buy back 26.5 million shares from our private equity investor.
“This fiscal year, we shipped a record number of DSS furnaces to maintain our strong market position in the PV sector of our business. In our polysilicon business we saw increased activity that we believe provides the basis for continued growth in fiscal year 2012 and beyond.
“We took an important strategic step to diversify the business in fiscal 2011 with the acquisition of Crystal Systems, which has allowed us to enter the high-growth sapphire business. Our sapphire substrate business continues to be fully booked and our sapphire equipment business has developed rapidly with over $484 million of orders booked as of today.
“GT’s overall business outlook remains strong. We booked over $230 million of new business in the fourth quarter, bringing total net bookings for the year to over $1.1 billion and our backlog as of April 2nd to approximately $1.2 billion. The healthy pace of business has continued into the new fiscal year with an additional $722 million of orders booked so far in the first quarter of fiscal year 2012.
Revenue for the fourth quarter of fiscal 2011 totaled $271.6 million, compared to $262.9 million in the third quarter of fiscal 2011 and $194.7 million in the fourth quarter of fiscal 2010. Revenue by business segment for the fourth fiscal quarter of 2011 was $79.2 million in polysilicon, $186.0 million in photovoltaic (PV), and $6.4 million in the sapphire segment, all of which was sapphire materials revenue. Revenue for fiscal 2011 was $899.0 million, approximately 65% growth over fiscal 2010 revenue of $544.2 million. Revenue by business segment for fiscal 2011 was $143.6 million in polysilicon, $740.1 million in photovoltaic (PV), and $15.3 million in the sapphire segment, all of which was sapphire materials revenue.
Gross profit for the fourth quarter of fiscal 2011 totaled $116.9 million, or 43.0 percent of revenue, compared to $122.1 million, or 46.4 percent of revenue in the third quarter of fiscal 2011 and $73.1 million, or 37.5 percent of revenue for the fourth quarter of fiscal 2010. Gross margin for fiscal 2011 was 42.0 percent with a gross profit of $378.0 million compared to a gross margin of 40.2 percent and gross profit of $219.0 million for fiscal 2010.
Operating margin for the fourth quarter of fiscal 2011 was 30.5 percent of revenue, compared to 36.1 percent of revenue in the third quarter of fiscal 2011 and 28.4 percent in the fourth quarter of fiscal 2010. Operating margin for fiscal 2011 was 30.4 percent, compared with 26.5 percent in fiscal 2010.
The company had net income of $51.9 million in the fourth quarter of fiscal 2011 compared to $63.6 million in the third quarter of fiscal 2011 and $33.3 million for the fourth quarter of fiscal 2010. Earnings per share in the fourth quarter of fiscal 2011 on a fully-diluted basis were $0.41, versus $0.46 for the third quarter of fiscal 2011 and $0.23 for the fourth quarter of fiscal 2010. Net income for fiscal 2011 was a record $174.8 million compared to $87.3 million for fiscal 2010. This resulted in a fully diluted EPS of $1.24 per share for fiscal 2011, more than double the fully diluted EPS for fiscal 2010 of $0.60 per share.
Cash and cash equivalents at the end of the fourth quarter of fiscal 2011 were $362.7 million, up from $320.4 million dollars of cash and cash equivalents at the end of the third quarter of fiscal 2011 and $250.7 million of cash, cash equivalents and short-term investments at the end of the fourth quarter of fiscal 2010. In addition, we had debt of $120.3 million at the end of the fourth quarter of fiscal 2011, down from $125.0 million of debt at the end of the third quarter of fiscal 2011 and no debt at the end of the fourth quarter of fiscal 2010.
As of April 2, 2011, the company’s backlog was $1.19 billion, with $536.7 million in the polysilicon segment, $468.1 million in the PV segment and $184.2 million in the sapphire segment. Included in the total backlog was $445.5 million of deferred revenue. Net new orders for the quarter were $234.2 million, which included $14.7 million in polysilicon, $125.1 million in PV and $94.4 million in sapphire.
The company raised its fiscal 2012 guidance for revenue to a range of $1.0 billion to $1.1 billion, up from the previously provided range of $850 million to $1.0 billion. Based on estimated weighted average diluted shares outstanding of approximately 131 million for the full fiscal year, fully diluted earnings per share are expected to be in the range of $1.55 to $1.85, up from the previously provided range of $1.25 to $1.50. The company expects gross margins for fiscal year 2012 to be in the range of 42 percent to 44 percent.
“Our strong fourth quarter performance caps an outstanding year for GT and its shareholders,” said Tom Gutierrez, president and chief executive officer. “We achieved record revenues in fiscal year 2011 on 65 percent year-over-year growth and we more than doubled our earnings per share. We concluded the year with a strong balance sheet and cash position, while utilizing $203.5 million of cash to buy back 26.5 million shares from our private equity investor.
“This fiscal year, we shipped a record number of DSS furnaces to maintain our strong market position in the PV sector of our business. In our polysilicon business we saw increased activity that we believe provides the basis for continued growth in fiscal year 2012 and beyond.
“We took an important strategic step to diversify the business in fiscal 2011 with the acquisition of Crystal Systems, which has allowed us to enter the high-growth sapphire business. Our sapphire substrate business continues to be fully booked and our sapphire equipment business has developed rapidly with over $484 million of orders booked as of today.
“GT’s overall business outlook remains strong. We booked over $230 million of new business in the fourth quarter, bringing total net bookings for the year to over $1.1 billion and our backlog as of April 2nd to approximately $1.2 billion. The healthy pace of business has continued into the new fiscal year with an additional $722 million of orders booked so far in the first quarter of fiscal year 2012.
Monday, May 23, 2011
China Sunergy Announces First Quarter 2011 Financial Results ...05.23.2011
Nanjing, ChinaChina Sunergy today announced its financial results for the first quarter ended March 31, 2011. Results reported reflect the Company's business transition at the end of last year, in which it moved from primarily selling solar cells to selling solar modules to end users.
For the first quarter of 2011, revenue amounted to US$165.7 million, a decrease of 2.3% over the fourth quarter of 2010. Revenue from module sales amounted to US$160.5 million and accounted for 96.9% of total revenue. Shipments for the first quarter were 98.0 MW, including 92.1 MW of solar modules. Revenues were held back primarily by uncertainty over feed-in tariffs in Italy, which led to banks' reluctance to release loans and project developers' deferral of module purchases. Seasonality due to winter weather installation difficulty was also a factor. On the positive side, the company's revenues reflect that it has largely transitioned from selling cells to selling modules.
Gross margin was 10.7% for the first quarter of 2011, compared to 16.0% for the fourth quarter of 2010, a drop that nevertheless beat the Company's prior guidance. Gross profit for the first quarter was US$17.8 million, representing a sequential decrease of 34.3%. Falling ASP levels and comparatively high raw material costs contributed to this decrease.
Blended module ASP during the first quarter was US$1.74 per watt, higher than the Company's previous guidance of US$1.70 per watt. ASP declined from US$1.93 per watt in the fourth quarter.
In the first quarter of 2011, blended wafer costs were US$0.92 per watt, representing a sequential decrease of 7.1%. The prices of polysilicon and wafers are expected to continue declining in the second quarter. Non-silicon costs for cells and modules for the first quarter of 2011 were US$0.22 and US$0.31 per watt respectively.
Inventories at the end of Q1 2011 reached US$124.1 million, a 71.6% increase over the end of 2010. The Company also experienced operating cash outflow of US$92.0 million. These results were directly related to slower than expected sales in Italy.
Regarding the ongoing dispute with REC, China Sunergy had served a writ upon REC Wafer, claiming it is not a party to the contract between China Sunergy and the dissolved REC Sitech AS. In July 2010, the Salten District Court in Norway ruled against China Sunergy in the case. The Company appealed the ruling in August 2010. An appeal hearing, originally scheduled for March 2011, will now be held in June 2011.
In parallel to the main dispute, the Supreme Court of Norway ruled on July 15, 2010 and overturned the Court of Appeal's order denying China Sunergy's injunction petition with regard to a US$50 million bank guarantee. The injunction petition was sent back to the Court of Appeal for a new ruling. The Court of Appeal decided that the injunction shall remain in force until the Court of Appeal has passed a judgment in the main case.
China Sunergy is a named defendant in three purported class actions filed in the United States District Court for the Southern District of New York. On September 29, 2008, the District Court appointed a lead plaintiff and consolidated the three cases.
On December 8, 2008, the lead plaintiff filed a consolidated amended complaint which purports to state class action claims against us in connection with our initial public offering and seeks unspecified damages. Specifically, the lead plaintiff alleges that the Company made false and misleading statements in our initial public offering registration statement and prospectus regarding, among other things, the procurement of polysilicon.
Several of the Company's directors and officers, along with the investment banks that underwrote the initial public offering, are also named defendants in the cases. On January 26, 2009, the defendants filed a motion to dismiss the consolidated amended complaint.
Defendants' motion remained outstanding when, on July 14, 2009, the parties reached an agreement in principle to settle the dispute in its entirety with an amount of $1.1 million. On May 12, 2011, the Court held that final hearing, and issued a final judgment for each of the three filed cases, dismissing each case with prejudice and approving the parties' settlement and plan of allocation. The parties are currently working to implement that settlement. All payments pursuant to the settlement will be made by the Company's insurers.
For the first quarter of 2011, revenue amounted to US$165.7 million, a decrease of 2.3% over the fourth quarter of 2010. Revenue from module sales amounted to US$160.5 million and accounted for 96.9% of total revenue. Shipments for the first quarter were 98.0 MW, including 92.1 MW of solar modules. Revenues were held back primarily by uncertainty over feed-in tariffs in Italy, which led to banks' reluctance to release loans and project developers' deferral of module purchases. Seasonality due to winter weather installation difficulty was also a factor. On the positive side, the company's revenues reflect that it has largely transitioned from selling cells to selling modules.
Gross margin was 10.7% for the first quarter of 2011, compared to 16.0% for the fourth quarter of 2010, a drop that nevertheless beat the Company's prior guidance. Gross profit for the first quarter was US$17.8 million, representing a sequential decrease of 34.3%. Falling ASP levels and comparatively high raw material costs contributed to this decrease.
Blended module ASP during the first quarter was US$1.74 per watt, higher than the Company's previous guidance of US$1.70 per watt. ASP declined from US$1.93 per watt in the fourth quarter.
In the first quarter of 2011, blended wafer costs were US$0.92 per watt, representing a sequential decrease of 7.1%. The prices of polysilicon and wafers are expected to continue declining in the second quarter. Non-silicon costs for cells and modules for the first quarter of 2011 were US$0.22 and US$0.31 per watt respectively.
Inventories at the end of Q1 2011 reached US$124.1 million, a 71.6% increase over the end of 2010. The Company also experienced operating cash outflow of US$92.0 million. These results were directly related to slower than expected sales in Italy.
Regarding the ongoing dispute with REC, China Sunergy had served a writ upon REC Wafer, claiming it is not a party to the contract between China Sunergy and the dissolved REC Sitech AS. In July 2010, the Salten District Court in Norway ruled against China Sunergy in the case. The Company appealed the ruling in August 2010. An appeal hearing, originally scheduled for March 2011, will now be held in June 2011.
In parallel to the main dispute, the Supreme Court of Norway ruled on July 15, 2010 and overturned the Court of Appeal's order denying China Sunergy's injunction petition with regard to a US$50 million bank guarantee. The injunction petition was sent back to the Court of Appeal for a new ruling. The Court of Appeal decided that the injunction shall remain in force until the Court of Appeal has passed a judgment in the main case.
China Sunergy is a named defendant in three purported class actions filed in the United States District Court for the Southern District of New York. On September 29, 2008, the District Court appointed a lead plaintiff and consolidated the three cases.
On December 8, 2008, the lead plaintiff filed a consolidated amended complaint which purports to state class action claims against us in connection with our initial public offering and seeks unspecified damages. Specifically, the lead plaintiff alleges that the Company made false and misleading statements in our initial public offering registration statement and prospectus regarding, among other things, the procurement of polysilicon.
Several of the Company's directors and officers, along with the investment banks that underwrote the initial public offering, are also named defendants in the cases. On January 26, 2009, the defendants filed a motion to dismiss the consolidated amended complaint.
Defendants' motion remained outstanding when, on July 14, 2009, the parties reached an agreement in principle to settle the dispute in its entirety with an amount of $1.1 million. On May 12, 2011, the Court held that final hearing, and issued a final judgment for each of the three filed cases, dismissing each case with prejudice and approving the parties' settlement and plan of allocation. The parties are currently working to implement that settlement. All payments pursuant to the settlement will be made by the Company's insurers.
Sunday, May 22, 2011
Tioga Energy Commences Development of 44 Solar Projects ...05.19.2011
Elizabeth, New Jersey United StatesTioga Energy has finalized contracts and begun development of 3.4 MW of solar energy systems at facilities owned by a variety of local government agencies in Union County, New Jersey. Under the terms of the solar power purchase agreements (PPAs) between Tioga Energy and the county agencies, Tioga will own and operate the projects, selling the electricity generated back to the county at predictable rates and lowering electricity costs by approximately 50 percent over 15 years.
To finance the installations, Tioga Energy and the Union County Improvement Authority implemented a financial structure that combines the benefits of low-interest municipal bonds with the sale of solar renewable energy certificates (SRECs) and federal tax incentives to lower the cost of the solar electricity provided to the county under the PPAs.
“Working with Tioga Energy offers Union County tremendous value, allowing us to decrease our energy expenses and instead allocate those resources to better serve our community,” said Charlotte DeFilippo, Executive Director of the Union County Improvement Authority. “In these times of tight budgets for schools and municipal services, Union County’s forward-looking solar program helps us save money, control costs over the long-term and create jobs within the growing clean technology industry.”
Union County Freeholder Daniel P. Sullivan hailed the solar program as a “visionary” effort.
“The Renewable Energy Program puts Union County in the forefront as our nation transitions to a safer, healthier and more affordable energy future,” said Freeholder Sullivan. “The Improvement Authority is to be commended for its diligent pursuit of this important program, and I would like to thank all the participants for their support.”
The 44 solar electric systems will be located at a variety of county-owned sites throughout the region, including three firehouses, four libraries and schools in seven districts. Tioga’s installation partner, a joint venture between Pro-Tech Energy Solutions and Huen Electric, Inc., will engineer and construct the systems.
“Tioga’s experience with this type of municipal project financing enabled us to tackle the complexities of this initiative that turned away other providers. We commend the Union County Improvement Authority for taking action to simultaneously reduce both the county’s carbon footprint and its electricity bills,” said Paul Detering, CEO of Tioga Energy. “The Tioga team is constantly working to highlight the viability of solar in any economic climate, and we’re now seeing more and more communities like Union County exploring unique financing mechanisms to bring renewable projects to life.”
To finance the installations, Tioga Energy and the Union County Improvement Authority implemented a financial structure that combines the benefits of low-interest municipal bonds with the sale of solar renewable energy certificates (SRECs) and federal tax incentives to lower the cost of the solar electricity provided to the county under the PPAs.
“Working with Tioga Energy offers Union County tremendous value, allowing us to decrease our energy expenses and instead allocate those resources to better serve our community,” said Charlotte DeFilippo, Executive Director of the Union County Improvement Authority. “In these times of tight budgets for schools and municipal services, Union County’s forward-looking solar program helps us save money, control costs over the long-term and create jobs within the growing clean technology industry.”
Union County Freeholder Daniel P. Sullivan hailed the solar program as a “visionary” effort.
“The Renewable Energy Program puts Union County in the forefront as our nation transitions to a safer, healthier and more affordable energy future,” said Freeholder Sullivan. “The Improvement Authority is to be commended for its diligent pursuit of this important program, and I would like to thank all the participants for their support.”
The 44 solar electric systems will be located at a variety of county-owned sites throughout the region, including three firehouses, four libraries and schools in seven districts. Tioga’s installation partner, a joint venture between Pro-Tech Energy Solutions and Huen Electric, Inc., will engineer and construct the systems.
“Tioga’s experience with this type of municipal project financing enabled us to tackle the complexities of this initiative that turned away other providers. We commend the Union County Improvement Authority for taking action to simultaneously reduce both the county’s carbon footprint and its electricity bills,” said Paul Detering, CEO of Tioga Energy. “The Tioga team is constantly working to highlight the viability of solar in any economic climate, and we’re now seeing more and more communities like Union County exploring unique financing mechanisms to bring renewable projects to life.”
Friday, May 20, 2011
Global Plastics Company Goes Solar ...05.20.2011
Mebane, North Carolina United StatesWith the throw of a switch, a world-class plastics injection molding and assembly company is evolving into a greener business. Nypo activated a 222-kilowatt solar system and four wind turbines at its Mebane facility Thursday morning during a public ceremony. Morrisville-based Southern Energy Management (SEM) designed and installed the rooftop solar array, which consists of 1,008 REC 220-watt PV modules.
“These are the types of companies we love to work with, especially because their mission aligns with ours in a lot of ways,” said SEM commercial solar services director Eric Blomendale. “Nypro has some ambitious goals in terms of environmental sustainability, and a company of their size could have a really positive impact.”
Based in Massachusetts, Nypro is one of the 10 largest employee-owned companies in the world; it has 17,000 employees working at 45 locations in 16 countries. Corporate responsibility is a big part of Nypro’s long-term strategic plans, with a commitment to decrease greenhouse gas emissions through improved operational efficiency and the use of clean, renewable energy resources. The solar array and wind turbines in Mebane are the first renewable energy installations Nypro has approved so far.
“This project is a pilot program to adapt renewable energy to plastics manufacturing. Our long-term goal is to power all Nypro Packaging operations with renewable energy,” said Paul Kayser, Group President for Nypro Packaging.
The combined energy from the solar and wind installations is expected to generate enough power to offset the electricity used by six of Nypro’s 200-ton injection molding machines, which are typically used to make plastic packaging and medical products.
“These are the types of companies we love to work with, especially because their mission aligns with ours in a lot of ways,” said SEM commercial solar services director Eric Blomendale. “Nypro has some ambitious goals in terms of environmental sustainability, and a company of their size could have a really positive impact.”
Based in Massachusetts, Nypro is one of the 10 largest employee-owned companies in the world; it has 17,000 employees working at 45 locations in 16 countries. Corporate responsibility is a big part of Nypro’s long-term strategic plans, with a commitment to decrease greenhouse gas emissions through improved operational efficiency and the use of clean, renewable energy resources. The solar array and wind turbines in Mebane are the first renewable energy installations Nypro has approved so far.
“This project is a pilot program to adapt renewable energy to plastics manufacturing. Our long-term goal is to power all Nypro Packaging operations with renewable energy,” said Paul Kayser, Group President for Nypro Packaging.
The combined energy from the solar and wind installations is expected to generate enough power to offset the electricity used by six of Nypro’s 200-ton injection molding machines, which are typically used to make plastic packaging and medical products.
Wednesday, May 18, 2011
SDGE Signs 125 MW of CPV Contracts
05.18.2011
San Diego Gas & Electric and subsidiaries of Soitec Solar Development, LLC, a renewable energy company managed by Soitec (Euronext Paris), have signed two additional 25-year contracts for a total of 125 megawatts of solar energy to be generated in the utility’s service territory. The energy will be produced using Soitec’s Concentrix™ concentrator photovoltaic technology with solar modules manufactured in a new Soitec factory to be built in the San Diego area.
These new agreements are separate from the three San Diego contracts the two companies signed in April for 30 MW of CPV-generated solar power. Combined, the five contracts SDG&E recently signed with Soitec represent five separate projects capable of generating a combined total of 155 megawatts of clean, renewable solar power, or enough energy to supply more than 60,000 homes. Both of the new proposed projects will be located in San Diego County and will be situated near SDG&E electric substations.
“Our projects with Soitec will bring local jobs to the community and will help us to meet our renewable energy goals,” said James P. Avery, SDG&E’s senior vice president of power supply. “We are very confident in our choice of technology and in Soitec’s plans for a solar panel manufacturing facility in the San Diego region.”
Today’s announcement confirms the attractiveness of Soitec’s renewable energy technology – which generates large amounts of power with industry-leading efficiency and low environmental impact – in areas such as Southern California with abundant sunshine.
“These new contracts with SDG&E reinforce Soitec’s decision to build its new manufacturing site in the San Diego area, and confirms the importance of the U.S. market for our company,” said André-Jacques Auberton-Hervé, chief executive officer and chairman of the board of Soitec. “We are very pleased to have a direct role in bringing ‘home grown’ solar energy to the people of San Diego.”
Soitec’s new manufacturing facility will have an annual production capacity of 200 MW and will supply all of SDG&E’s projects with Soitec’s exclusive Concentrix CPV technology, which produces power at a much higher efficiency relative to standard solar panels. At full capacity, Soitec’s San Diego operations facility will generate up to 450 direct jobs and more than 1,000 indirect jobs. The factory location is expected to be announced this summer, with completion within 18 months of construction start.
San Diego Gas & Electric and subsidiaries of Soitec Solar Development, LLC, a renewable energy company managed by Soitec (Euronext Paris), have signed two additional 25-year contracts for a total of 125 megawatts of solar energy to be generated in the utility’s service territory. The energy will be produced using Soitec’s Concentrix™ concentrator photovoltaic technology with solar modules manufactured in a new Soitec factory to be built in the San Diego area.
These new agreements are separate from the three San Diego contracts the two companies signed in April for 30 MW of CPV-generated solar power. Combined, the five contracts SDG&E recently signed with Soitec represent five separate projects capable of generating a combined total of 155 megawatts of clean, renewable solar power, or enough energy to supply more than 60,000 homes. Both of the new proposed projects will be located in San Diego County and will be situated near SDG&E electric substations.
“Our projects with Soitec will bring local jobs to the community and will help us to meet our renewable energy goals,” said James P. Avery, SDG&E’s senior vice president of power supply. “We are very confident in our choice of technology and in Soitec’s plans for a solar panel manufacturing facility in the San Diego region.”
Today’s announcement confirms the attractiveness of Soitec’s renewable energy technology – which generates large amounts of power with industry-leading efficiency and low environmental impact – in areas such as Southern California with abundant sunshine.
“These new contracts with SDG&E reinforce Soitec’s decision to build its new manufacturing site in the San Diego area, and confirms the importance of the U.S. market for our company,” said André-Jacques Auberton-Hervé, chief executive officer and chairman of the board of Soitec. “We are very pleased to have a direct role in bringing ‘home grown’ solar energy to the people of San Diego.”
Soitec’s new manufacturing facility will have an annual production capacity of 200 MW and will supply all of SDG&E’s projects with Soitec’s exclusive Concentrix CPV technology, which produces power at a much higher efficiency relative to standard solar panels. At full capacity, Soitec’s San Diego operations facility will generate up to 450 direct jobs and more than 1,000 indirect jobs. The factory location is expected to be announced this summer, with completion within 18 months of construction start.
Tuesday, May 17, 2011
PV Equipment Spending of $15.2 Billion in 2011 at Risk from Market Downturn
Strong Equipment Revenues Continue, but Declining Incentives Across Europe are Likely to Reset Capacity Expansion Plans During 2H’11
San Francisco, Calif., April 18, 2011—Following a year when global photovoltaic (PV) market demand grew 139%, PV cell manufacturers have embarked upon aggressive expansion plans in support of ambitious shipment guidance for 2011. Consequently, the scale of expansions announced would create a $15.2 billion revenue opportunity for PV equipment suppliers during 2011, an increase of 41% Y/Y, according to the latest Solarbuzz® PV Equipment Quarterly report.While Y/Y growth for c-Si equipment spending (including ingot, wafer, cell and module stages) in 2011 would amount to 31%, thin-film spending would grow by an incredible 71%. Underpinning this thin-film growth is a resurgence of investments in a-Si and CIGS technologies, which account for 78% of planned thin-film capacity expansions.
Tier 1 expansions remain dominated by aggressive schedules announced by publicly-listed Chinese c-Si producers, followed by cell producers in Taiwan and thin-film leader First Solar. Examples of revised year-end nameplate capacity targets include JA Solar to 3 GW, Trina Solar to 1.9 GW, Neo Solar Power to 1.8 GW, and Jinko Solar to 1.5 GW. In the past 12 months, manufacturers in China and Taiwan accounted for 82% of the $3.6 billion revenues allocated to new c-Si cell equipment worldwide.
Adding to the c-Si expansion activity, thin-film manufacturing capacity is scheduled to grow by 70% between Q1’11 and Q1’12, as the second thin-film investment cycle draws to a conclusion. Within this period, an incredible 65 thin-film expansion phases are projected to be implemented, with a combined nameplate capacity of 4.8 GW.
According to Finlay Colville , Senior Analyst at Solarbuzz, “Fab investments during 2011 are providing opportunities for the PV equipment supply-chain, reflected in tool backlogs at the $1 billion level reported during Q1’11 by equipment leaders Applied Materials, Centrotherm, GT Solar and Meyer Burger. While suppliers of choice to tier-1 manufacturers have been forced to increase monthly tool shipments, tier-2 c-Si and thin-film investments are offering significant revenue upside for emerging equipment suppliers.”
Capacity expansions are consistent with leading cell manufacturers guiding 2011 shipment growth rates of 55%. However, market demand is forecast to increase by only 12% this year, as incentive tariff cuts are implemented across major European markets. This imbalance will have a profound impact on the equipment supply-chain, starting with a reset of capacity growth plans during 2H’11. With tool lead times typically 3-6 months, the full impact of these changes will be felt hardest during 2012.
Figure 1: PV Equipment Spending by Technology Segment (Q1’11 - Q1’12)
Source: Solarbuzz PV Equipment Quarterly
Equipment Spending Downturn Ahead
During Q1’11, PV equipment spending reached another quarterly high of $3.7 billion. The current PV spending cycle will peak in Q2’11, followed by a sharp decline from Q4’11, as the industry resets its expansion plans to meet the pending market downturn in 2H’11. For leading equipment suppliers aligned with tier-1 expansion phases, this will translate to an immediate decline in new order intake.
However, new opportunities will then emerge for equipment suppliers of next-generation fab tools, as high-efficiency roadmaps are reprioritized. Q-Cells recently announced plans to upgrade their 1.1 GW of cell capacity during 2H’11 with front- and rear-side enhancements, providing an early indicator of roadmap deliverables. High-efficiency c-Si variants are forecast to comprise 35% of all c-Si cell capacity by Q1’12. Accelerating next-generation concepts will facilitate adoption rates of new tool types, such as ion implanters being championed today by semiconductor-equipment market leader Varian Semiconductor Equipment Associates.
As existing backlogs are shipped during 1H’11, strong Q1’11 revenues will be announced shortly. However, the leading indicator will be new orders received, as PV producers review their plans for 2012. Further expansion by thin-film entrants will depend upon the success of initial fabs ramped up in 2011 and 2012. However, a long queue of hungry investors eyeing up the PV industry will likely keep this fragmented segment financed for some time.
As the equipment spending cycle approaches its downturn in 2H’11, new challenges will emerge for tool suppliers. This is most vividly captured within the US$750 million segment for PECVD tools used to deposit passivation layers and anti-reflecting coatings during c-Si cell formation. Meyer Burger’s proposed takeover of Roth and Rau comes ahead of a likely drop-off in PECVD order intake as Centrotherm increases its market-share, Jusung Engineering is buoyed up following a significant win at a top-10 cell producer, and Orbotech’s subsidiary OLT Solar prepares to deliver its first beta-site tool in Q2’11.
The Solarbuzz PV Equipment Quarterly report provides the tools to enable PV equipment suppliers to navigate around these challenges by identifying target customers or competitors, equipment revenues on offer down to the key process tool level, and the precise timing of each PV manufacturer’s announced fab expansion plans by quarter out to 2015.
The Solarbuzz PV Equipment Quarterly features a comprehensive capacity and production database incorporating Solarbuzz’s proprietary industry knowledge across over 350 c-Si cell and thin-film panel producers, and a PowerPoint report with extensive analysis on technology and equipment spending trends. All data and analysis is updated on a quarterly basis and includes expansion and spending activity from the immediate quarter closed for over 1100 capacity expansion phases out to 2015. The performance of leading PV equipment suppliers is analyzed, including PV-specific process tool revenues, bookings, and backlogs—each updated on a quarterly basis.
Tuesday, May 3, 2011
First Solar Announces First Quarter 2011 Financial Results ...05.03.2011
United StatesArizona.First Solar, Inc. today announced its financial results for the first quarter of 2011. Net sales were $567 million in the quarter, a decrease of $42.5 million from the fourth quarter of 2010, due to the allocation of modules to systems projects in order to meet the project contractual delivery schedules, seven fewer production days, and a full quarter impact of the pricing change implemented in December of 2010.
Quarterly net sales decreased slightly from $568 million in the first quarter of 2010, primarily due to lower average selling prices.
First quarter net income per fully diluted share was $1.33, down from $1.80 in the fourth quarter of 2010 and $2.00 in the first quarter of 2010. Quarter over quarter, the net income decrease was primarily driven by lower net sales and gross margin. Year over year, the net income decrease was primarily driven by reduced average selling prices and higher expenses, partially offset by increased module production and lower module cost per watt.
“Despite European market uncertainties, First Solar has good visibility into our demand for 2011,” said Rob Gillette, CEO of First Solar. “We continue to execute our cost roadmaps, invest in new module capacity, build our project pipeline and develop promising new markets around the world.”
First Solar’s updated 2011 guidance is as follows:
Net sales of $3.7 to $3.8 billion
Operating Income of $900 to $970 million
Earnings per fully diluted share of $9.25 to $9.75
$50 to $60 million of manufacturing start-up expenses and $10 to $15 million of factory ramp costs
Total capital spending of $1.0 to $1.1 billion
Operating cash flow of $0.8 to $1.0 billion
Solar information!!
Quarterly net sales decreased slightly from $568 million in the first quarter of 2010, primarily due to lower average selling prices.
First quarter net income per fully diluted share was $1.33, down from $1.80 in the fourth quarter of 2010 and $2.00 in the first quarter of 2010. Quarter over quarter, the net income decrease was primarily driven by lower net sales and gross margin. Year over year, the net income decrease was primarily driven by reduced average selling prices and higher expenses, partially offset by increased module production and lower module cost per watt.
“Despite European market uncertainties, First Solar has good visibility into our demand for 2011,” said Rob Gillette, CEO of First Solar. “We continue to execute our cost roadmaps, invest in new module capacity, build our project pipeline and develop promising new markets around the world.”
First Solar’s updated 2011 guidance is as follows:
Net sales of $3.7 to $3.8 billion
Operating Income of $900 to $970 million
Earnings per fully diluted share of $9.25 to $9.75
$50 to $60 million of manufacturing start-up expenses and $10 to $15 million of factory ramp costs
Total capital spending of $1.0 to $1.1 billion
Operating cash flow of $0.8 to $1.0 billion
Solar information!!
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