Bachman Comments on California Solar Initiative – Sees Continued Application Growth
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/c-Yc6nHMMlY/Posted on Monday, October 5th, 2009 | In Investing Lessons, Small & Micro Cap
October 5, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman commented this morning on the California Solar Initiative, noting that analysis of the CDI Program Data through 3Q2009 indicates continued application growth in California.
Key Takeaways
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; In C2009, as of September 30, the CSI has submitted 169MW worth of applications (compared with 185.6MW for all of C2008)
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; YTD, the overall market has grown 23% Y/Y
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Residential sector has already reached 103% of its 2008 total
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Government sector has reached 139% of its 2008 total
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Commercial sector is down 25%
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 42% of Q3nbsp; applications came from SunPower (Nasdaq:SWPRA), Suntech (NYSE:STP) or Sharp (7503.T)
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Believes Suntech and Sharp offer the best solutions, while SunPowerrsquo;s market share has flattened to the mid-teens
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; New entrants in the market include First Solar (Nasdaq:FSLR), Yingli (NYSE:YGE) and BP Solar
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