Friday, February 27, 2009

Solar Stocks Update: One Stock Stands Out

Most down but better than last week

Again, the stimulus bill signed last week which included about $80 billion in incentives and benefits for the solar industry. In fact, February 17 quite likely was the best day for the American PV industry in history. So solar stocks caught fire, right? Wrong. The 20 stocks in this index went down an average 19.38%. There's always next week, right?

This week, at a combined 7.43% down, obviously was a little better. Maybe investors are beginning to see the (sun)light; that renewable energy companies will not only create more jobs but will slow electricity rate hikes while reducing GHG emissions. Or maybe it's because spring is just a month away and the prospect of sunnier days get more people thinking solar. (This blogger always more PV installations during the baseball season when air conditioning can make electricity bills look like mortgage payments.) Or maybe it's because banking stocks are super dicey and U.S. auto stocks look even worse.

Through it all, one solar-related stock stands out: MEMC. This company started as a venture by the old Monsanto chemical conglomerate in St. Louis in 1959 becoming the Monsanto Electronic Materials Company. Today MEMC produces high-grade silicon wafers at nine facilities in all the major semiconductor markets in the world including Japan, Taiwan, Malaysia, Korea, Europe and the U.S. Their new line of 300mm silicon wafers (about 12" diameter) could become extra large solar cells. If that's the intention, the cost of PV modules for large-scale installations could go down considerably. All solar stocks are down from the January 5 close of trading and the beginning of this index but MEMC has only dropped 5% in the time, the least of all 20.

It is not the intention of this index to recommend or detract from any stock listed. However, crystalline cells still run the world's electronics and convert sunlight to energy. A well-entrenched, well-distributed chip manufacturer with an active R&D arm, MEMC, is at least a brighter spot in today's PV market.

Week of February 23-27, 2009

Monday OpenFriday CloseUp/Down% ChangeClose 1/5/09
Dow Jones DJIA7365.677062.93-302.74-4.12%8952.89

Akeena Solar AKNS1.471.06-.41-27.902.28
Amtel Systems ASYS3.012.96-.05-1.634.00
Applied Materials AMAT8.769.21+.45+5.1310.67
Canadian Solar CSIQ4.203.59-.61-14.537.00
ECD (UniSolar) ENER24.6221.93-2.69-10.9329.33
Entech Solar ENSL.OB.272.2602-.0118.-4.44.28
Evergreen Solar ESLR1.301.22-.08-6.163.60
First Solar FSLR134.01105.74-28.27-21.10157.80
GT Solar Int. SOLR4.224.27+.05+1.184.00
JA Solar JASO2.272.03-.24-10.595.09
Kyocera KYO61.3457.80-3.44-5.7871.87
LDK Solar LDK6.125.12-1.00-16.3414.84
MEMC Elect. WFR13.7515.01+1.26+9.1615.76
Renesola SOL2.372.42+.05+2.105.15
Satcon SATC1.191.19NCNC1.60
SolarFun SOLF2.972.99+.02+.0066.12
SunPower SPWRA30.9227.89-3.03-9.8045.13
SunTech STP6.866.09-.77-11.3313.55
Trina Solar TSL7.496.54-.95-12.6910.09
Yingli YGE4.073.89-.18-4.437.25
Percent change all 20 stocks this week:



No comments:

Post a Comment


web site visitor stats
DVD Rentals