GE Is Giving Up on Solar — You Should Too (Investor Place)
It may not happen today or tomorrow, but one day First Solar, Inc. (NASDAQ:FSLR) and its peers will go bankrupt. That’s because, to quote (at length) an engineer friend: “Solar technology does not work, and will never work. You can’t mess with Newton. Unless someone discovers some magical way to transform solar energy to electricity and then conduct it efficiently, which involves discovering something that does not conform to all known laws of physics, thermodynamics, electrodynamics, radiation theory, or even common sense.”I’ve written about why the science does not work before, quoting this same engineer. Plus, there are lots of other problems with solar.
First Solar, Inc. (NASDAQ:FSLR) shares were down by more than 13% in midday trading Wednesday following weak second-quarter results and questions over a deal with General Electric (GE -0.08%). First Solar announced it had purchased General Electric’s global cadmium telluride solar intellectual property portfolio, in exchange for 1.75 million shares of First Solar. GE has agreed to retain the shares for at least three years.
Solar panels provide power savings at CV schools (Chino Valley Review)
“Win-win situation” may be a cliché, but it well describes the partnership the Chino Valley School district has entered into with SolarCity Corp (NASDAQ:SCTY) and Arizona Public Service to supply solar power to four area schools. Chino Valley Schools Director of Support Services John Scholl said the solar project, which has been in the works for more than a year, will not only save the district $715,000 over 20 years but includes a side benefit of covered parking at all four schools, and will cost the schools nothing.
Ben Kunz wanted to do “the green thing” and save on his electric bill without paying a lot of money up front. So instead of buying a solar system for his house in Cheshire, Connecticut, he leased one. “I thought it was a pretty good deal,” he said. “I lean a little environmentalist so I’m concerned about global warming.”
Increasing numbers of U.S. homeowners are relying on the sun to meet much of their hot water and electricity needs. In fact, residential electricity produced by solar in the first quarter of 2013 was almost 10 times higher than that generated in 2008, according to the Solar Energy Industries Association.
Canadian Solar awaits China quota (Recharge News)
Canadian Solar Inc. (NASDAQ:CSIQ) expects to get a “reasonable” export quota into the EU under the terms of the recent deal between Beijing and Brussels, says chief executive Shawn Qu.
The quota given to each Chinese manufacturer which signs up for the “price undertaking” agreement will be determined by Chinese officials. That determination will be 65% based on each manufacturer’s historical shipping record, with the other 35% based on “other factors”, Qu said during an analyst conference call today.
Canadian Solar Inc. (NASDAQ:CSIQ) a subsidiary of Canadian Solar Inc. ( CSIQ ), has entered into a sales agreement worth $277 million with Concord Green Energy (“Concord”). Per the agreement, Concord will buy Canadian Solar’s five utility-scale solar power plants that have a total generation capacity of 49 megawatt (MW) alternating current (AC). Per a 20-year contract, Ontario Power Authority will buy the electricity generated from these plants. Located in Chesterville, Pefferlaw, Springwater, Sudbury and Wyebridge, these solar power plants will have the capacity to provide electricity to 8,713 homes. The project will displace 1,164,120 metric tons of carbon dioxide emissions. Also, the project is expected to create more than 500 new jobs during the development and construction phases of all five solar projects.