Cowen’s Rob Stone Says Germany Could Install 3GW in 2009, and Spanish Markets Rebounding

Oct 06, 2009
Author: SCP Editor

October 6, 2009 – Analyst Comments – Cowen’s Rob Stone commented on both the German and Spanish solar markets this morning, noting that Germany could install nearly 3GW in 2009 and that the Spanish markets are rebounding.

Key Takeaways

·         German markets could install as much as 3GW in 2009 (Street expectations are for 2GW). Based on PHOTON International data, YTD installations through July are about 826MW, with 308MW installed in July. Stone said even if remaining five months are flat with July, the implication is 2.365GW for 2009.

·         Spain “might be reflecting the benefit of price elasticity with rooftop applications maxing out the quarterly quota for the first time in Q4

·         PV market is on pace to resume strong growth in 2010, likely growing to 9GW


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