Solar Energy Investing

Nanowerk News reports that impractical materials used for solar cells, less costly than crystalline silicon, could cut the cost of solar photovaltaics. The readily-available materials could allow solar cells to further expand globally and become a legitimate source of low-carbon energy.

The Financial Post reports that Timminco has announced plans to cut production of high-purity silicon due to the continuing economic plummet. A downward spiral that has directly affected the solar industry. Timminco’s actions are nothing new as similar companies are also reducing production to conserve finances. The most notable of their cuts is the reduction of their solar-grade silicon.

Reuters reports that Goldman Sachs lowered the rating on its shares inthe solar industry group Renewable Energy Corp (REC). The rating went from “sell” to “neutral” as Sachs also placed REC on it’s “conviction list” citing that the company has ’significant risks.’ Some of which were described as the ‘worsening solar macro environment and the material risk of delay and limited earnings contributions from its new silicon facilities.

Physorg.com reports research has been published in the Journal of Materials Chemistry on a record conversion efficiency with solar cells based on organic models.  Organic solar cells produce 5% efficiency compared to 15% efficiency of silicon cells but are abel to be manufactured cheaply with little environmental impact.  This technology’s intended use is for packaging, clothing, and recharging cell phones and laptops - not to compete with silicon cells.

Greentechmedia reports Solicium de Provence, a French polysilicon producer, is in danger of claiming bankruptcy after three years of operation.  The company couldn’t raise enough money to keep the factory manufacturing the raw ingredient used in making solar cells due to the credit crunch.  Renewable Energy Corp has cut its solar cell and panel production by 50% and OptiSolar has sold off unfinished solar panel projects.

FoxBusiness.com reports Solarfun Power Holdings, a photovoltaic solar cell and module manufacturer in China, has announced its net revenue for the entire year of 2008.  The revenues equal to US $725.4 million, a 106.6% increase from the numbers in 2007.  The company recently had a change in management, bringing about a new President of the company and with an unpredictable year ahead, has currently signed contracts for 200MW in 2009.

finchannel.com reports the 2009 Eni Awards have been announced.  In the category of Renewable Energy & Non-Conventional Energy the award was given to Martin Green. Green and his team have identified the limitations of solar cell efficiency and then successfully increased the efficiency of silicon cells to 25%.  His research is most likely to increase the mass use of solar power.

Nanowerk reports the University of California, Berkeley, and the Lawrence Berkeley National Laboratory have discovered unconventional solar cell materials could expand the potential for solar cells.  Currently, solar photovoltaics is being held up by cost per kilowatt hour and resource abundance.  Silicon is expensive and thin film depletes natural resources.  New materials and resources are being research to harness the sun’s energy.

Greentechmedia reports Madar City has awarded SunTech Power and First Solar contracts for a 10MW solar farm.  The emisssion free utopia will house 50,000 people when complete in 2016.  The cost of the solar farm is $50 million and will power the construction of building the city once it is complete this year. Thirty three solar companies are setting up forty solar systems to be installed on rooftops, from multicrystalline silicon to thin film technologies.

Greentech Media reports SunPower Corp has had to lay-off sixty of their employees due to declining shares.  Many solar companies are experiencing staff reductions due to economic turmoil, Ausra cut 10% of their labor and changed their business model and OptiSolar cut 50% of their staff.  SunPower may be more in jeopardy due to the exclusiveness of the solar panels they manufacture.  SunPower panels feature monocrystalline silicon, which converts sunlight more efficiently to energy, but is also more costly.