Bachman Comments on Solar to Bloomberg

Apr 22, 2009
Author: SCP Editor

April 22, 2009 – Analyst Comments – Pacific Crest’s Mark Bachman talked to Bloomberg about the solar sector, noting that there is significant upside in several names in the group. He likes First Solar (Nasdaq:FSLR), SunPower (Nasdaq:SPWRA) and SolarWorld (SWVG.DE). He said that driving solar growth is the cost of energy, and with energy prices generally moving higher across the board, while solar power prices are coming down, the outlook is good.

In terms of the primary consumers, he said look to Germany in the near term. He said looking forward  the US market is going to drive solar, citing announcements from Southern California Edison, PG&E and large deals signed by Sempra, Tri-State, Excel Energy and Exelon, the likes of which will push the US to the market leader.

Stimulus Boosts for Solar

·         30% solar investment tax extended

·         Cap lifted on residential PV installs

·         Tax credits can be applied to AMT

·         Utilities can use investment tax credit