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Solar Stocks Fall After Worrisome Reports

Solar are taking a hit after the industry’s trade group, the Solar Energy Industries Association, posted an alert on its website Friday suggesting Congress may pass an energy bill with no solar Investment Tax Credits (ITC). The site stated “there are widespread reports that a decision has been made, at least provisionally, to move energy legislation without a tax title that extends the Solar Investment Tax Credits.” There has been no confirmation that congressional leaders will fail to pass extensions for the ITC, which allow commercial system owners a 30% tax credit against the total cost of solar systems. However, if the credit were to expire in 2008, it could reduce the demand for solar systems among commercial customers. According to Stephen Chin, an analyst at UBS, these customers accounted for 41% of 2006 solar installations. The U.S. represents only 10% of the solar-products market, but as seen in the last two days, U.S. policy decisions could have widespread effects on the industry. However, some analysts are not worried. Jonathan Hoopes, a ThinkEquity Partners analyst told the Associated Press, “With oil treading near $100 per barrel, we fully expect Congress to figure out a way to work incentives (be they […]

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Honda Soltec Opens of Thin-Film Solar Plant

Honda Soltec Co., Ltd., Honda’s (NYSE: HMC) wholly-owned solar cell subsidiary, opened a thin-film solar cell plant last month that the company says will required 50% less energy for production than conventional crystal silicon solar cells. Using thin film made from a compound of copper, indium, gallium and selenium (CIGS) instead of silicon, Honda says the next-generation solar cell provides environmental benefits not only during its life-cycle but during production as well. Honda Soltec began mass production in October, and expects annual production will reach full capacity of 27.5 megawatts by next spring. The company has also begun sales of solar cells for homes throughout Japan with 80 distributor locations and plans to accelerate sales by increasing the number of distributor locations to more than 200 within 2008. Honda will also work to begin exports of Honda solar cells from its new operation based in Kumamoto. In addition to solar cells, Honda says it is also developing technology to produce ethanol from cellulose, as well as fuel cell vehicles and household cogeneration units for sale in Japan and the U.S. Website: [sorry this link is no longer available]     

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Akeena Solar Reports Record Revenue Growth for Q3

Akeena Solar, Inc. (NASDAQ: AKNS), which designs and installs solar power systems, posted record revenue growth in Q307. The company says net sales for the Q307 were $8.1 million, compared with $3.6 million of net sales in Q306. Compared to Q207, net sales increased 8%. Gross profit for Q307 was $1.7 million, or 21.0% of sales, compared to $0.9 million, or 24.7% of sales, in Q306. Total operating expenses for the quarter were $5.4 million, compared with $1.3 million in Q306. Net loss for the Q307 was $3.7 million, or $0.16 per share, compared to net loss of $0.4 million, or $0.04 per share, in Q306. Installations for the quarter amounted to approximately 1,000 kilowatts, versus approximately 400 kilowatts for Q306. “This quarter, Akeena again posted record revenue growth, with top-line results up 125% over last year’s $3.6 million,” said Barry Cinnamon, CEO of Akeena. “This performance puts us squarely on track to meet our full year goal of increasing revenue 135% over 2006. We are experiencing greater demand for our commercial business owing to favorable government rebates and expect this dynamic will open up more opportunities for us to pursue larger contracts in the future. Cinnamon said, “Our agreement […]

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Wind Demands Dwarf Supply

URL: http://www.oregonlive.com/news/oregonian/index.ssf?/base/business/119458232117650.xml&coll=7 Website: http://www.oregonlive.com/news/oregonian/index.ssf?/base/business/119458232117650.xml&coll=7     

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EPA Grants $3M To Sustainability Studies

The U.S. Environmental Protection Agency awarded $3 million in grants last week to universities under its Collaborative Science and Technology Network for Sustainability (CNS) program. The funds will be used to study how communities can develop sustainable practices without hurting their economies. Projects were funded in two areas: Communities and the Built Environment and Industrial Ecology and Organizational Behavior. According to George Gray, assistant administrator for the Office of Research and Development at the EPA, it is necessary to study human behavior related to sustainable practices, because sustainable development requires a change in thinking. He says projects on behavior will attempt to identify specific obstacles to the implementation of sustainability and ways to surmount them. Other projects will help predict the impact of housing development on nearby lakes and streams, and devise methods for urban planners to build sustainability into land development and transportation in cities. Awardees included the following universities that received grants ranging from $200,000 to $300,000: Dartmouth College in Hanover, N.H., New Jersey Institute of Technology in Newark, N.J., Ohio State University in Columbus, Ohio, $300,000, University of Maine in Orono, Maine, University of California in Irvine, Calif., University of Massachusetts in Amherst, Mass., University of Maryland […]

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