Editor’s Note: Related tickers: SolarCity Corp (NASDAQ:SCTY), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Trina Solar Limited (ADR) (NYSE:TSL), Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE)
SolarCity to buy Paramount Solar, ups 2013 guidance (SolarServer)
SolarCity Corp (NASDAQ:SCTY) has entered into an agreement to purchase channel partner Paramount Solar (Granite Bay, California, U.S.) for USD 116 million in stock and a cash payment to total roughly USD 120 million. SolarCity Corp (NASDAQ:SCTY) has raised its 2013 guidance to 278 MW due to the acquisition of Paramount’s backlog, and expects an even larger impact in 2014. The acquisition also involves the transfer of executives. …“SolarCity Corp (NASDAQ:SCTY) has developed what I believe to be the best field sales and marketing organization in the solar industry,” said SolarCity Corp (NASDAQ:SCTY) CEO Lyndon Rive.
First Solar, Inc. (NASDAQ:FSLR) is living up to its name this year, with the No.1-ranked company expected in 2013 to become the first engineering, procurement and construction (EPC) firm ever to install 1 gigawatt worth of solar or photovoltaic (PV) power systems in a single year. The U.S.-based company is forecast to install 1.1 gigawatts (GW) of solar systems in 2013, more than double the 516 megawatts (MW) in 2012, according to information and analytics provider IHS (NYSE: IHS). This high rate of growth will allow First Solar, Inc. (NASDAQ:FSLR) to maintain its leadership in the EPC business for the year, despite even faster growth from Chinese rivals, No. 2 China Power Investment Corp. (CPIC) and third-ranked GD solar.
SolarCity holds grand opening for Las Vegas location (KTNV)
Wednesday was the official opening of SolarCity Corp (NASDAQ:SCTY)’s new Las Vegas facility. The major location, near Sunset and I-15, has already created 100 new jobs. The solar power company provides service to 14 states across the country, giving consumers a viable solar power alternative. While many positions have been filled before the grand opening, the company is still looking for reliable employees.
The Solar Market Is Booming Again (DailyFinance)
The solar market is back on its feet again after a rough few years dealing with oversupply. The Japanese market is booming and U.S. residential installations are steadily growing. SunPower Corporation (NASDAQ:SPWR) and Canadian Solar have already reported better than expected earnings, while Trina Solar Limited (ADR) (NYSE:TSL) and Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) have already raised guidance. But not all solar companies are enjoying the boom, as exemplified by First Solar, Inc. (NASDAQ:FSLR)’s struggles. Motley Fool contributor Travis Hoium covers the trends that investors should look for in the video below. Solar power is just one source revolutionizing our energy picture — the other is natural gas.
