(Source: MARKETWIRE)
Solar stocks continue to be beaten down by the market as demand
concerns grow. With the economic turmoil overseas and at home
continuing, many companies have lowered sales forecasts for the
future. The lower demand has even stopped some companies from
constructing new factories until the markets are more favorable. The
Paragon Report examines investing opportunities in the Solar Industry
and provides equity research on MEMC Electronic Materials, Inc.
(NYSE: WFR) and Suntech Power Holdings Co. (NYSE: STP). Access to the
full company reports can be found at:
www.paragonreport.com/WFR
www.paragonreport.com/STP
The industry is also in the middle of a trade dispute over Chinese
subsidies to solar companies there. If those protesting are
successful, it could mean duty charged on solar equipment which could
have a negative effect on companies with operations in China. Earlier
this week The Coalition for American Solar Manufacturing (CASM)
called on a group of Chinese solar cell and panel importers to
explain how what CASM contends is "an unprecedented surge of dumped
and subsidized exports made according to weak environmental standards
and shipped halfway around the world could possibly benefit US
consumers or the environment."
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According to CASM, China's harmful trade practice speaks for itself:
"a 350 percent surge in Chinese exports to the United States from
2008 to 2010 and even greater escalation this year without any
technological or cost advantage." Yet, the surge has prompted a 40
percent to 50 percent collapse in prices in the past year, causing
unprecedented harm to an innovative, world-class competitive U.S.
green-technology industry.
This was greatly evident earlier this year when the Obama-supported
solar panel maker Solyndra filed for Chapter 11 bankruptcy
protection, saying it could not compete with overseas rivals with
cheaper products. Adding more fuel to the fire, solar energy product
maker Energy Conversion Devices Inc. said earlier this month that it
has temporarily suspended manufacturing and is planning about 500 job
cuts. Energy Conversion Devices has been restructuring its operations
since May.
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SOURCE: Paragon Financial Limited
A service of YellowBrix, Inc.