Pacific Crest’s Mark Bachman Comments on California Solar Initiative – SunPower Losing Share
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/lBmjoXEgk8Y/Posted on Friday, August 7th, 2009 | In Market Commentary, Small & Micro Cap
August 6, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman weighed in on Californiarsquo;s Solar Initiative (CSI) this morning, noting that it continues to gain traction.
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; About 20MW of applications were submitted to the CSI program in July
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; YTD, the market is up 24%, and over the trailing six months it is up 50%
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Commercial sector is lagging (down 25% YTD), while government, residential and nonprofit are showing YTD improvement
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Government applications totaled 47.8MW YTD, up 129%over the same period in 2008
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; SunPower (Nasdaq:SPWRA) continues to lose market share, down 32% YTD and 18% on a trailing six months basis
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Lower priced Chinese and Japanese modules have gained traction in the U.S. market
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