China Boosts Solar Installation Goal by 2015 by 4x

Energy

Published: July 3, 2012 11:46 am

The Chinese government has increased its planned installation of solar energy projects by 2015 from 5,000 megawatts to 21,000 megawatts. And at least one analyst expects the total to climb to more than 30,000 megawatts. That total is roughly equal to the expected new solar installations globally in 2012. The bad news is that global manufacturing capacity is about 59,000 gigawatts.

Still, the Chinese announcement has given share prices in a number of Chinese solar makers a boost today. Suntech Power Holdings Co. Ltd. (NYSE: STP) is up about 4.2% at $1.99 in a 52-week range of $1.50-$8.04. Suntech is China’s largest maker of solar cells and modules.

Trina Solar Ltd. (NYSE: TSL) is up about 1.7% at $6.75 in a 52-week range of $5.01-$21.55.

Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) is up 2.3% at $2.86 in a 52-week range of $2.50-$9.14.

Jinkosolar Holding Co. Ltd. (NYSE: JKS) is up 4.4% at $3.57 in a 52-week range of $3.06-$26.98.

LDK Solar Co. Ltd. (NYSE: LDK) is up 7.5% at $2.00 in a 52-week range of $ 1.54-$7.35.

JA Solar Holdings Co. Ltd. (NASDAQ: JASO) is up 4.2% at $1.13 in a 52-week range of $0.89-$5.70.

Canadian Solar Inc. (NASDAQ: CSIQ) is up 4.7% at $3.79 in a 52-week range of $2.07-$11.65.

US solar panel makers First Solar Inc. (NASDAQ: FSLR) and SunPower Corp. (NASDAQ: SPWR) are also getting a boost. First Solar is up 4.1% at $15.91 in a 52-week range of $11.43-$134.21, and SunPower is up 3.5% at $5.33 in a 52-week range of $4.51-$23.36.

The Guggenheim Solar ETF (NYSEMKT: TAN) is up about 1.8% at $19.09 in a 52-week range of $2.42-$34.12.

Paul Ausick

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