Akeena Solar Inc., a leading designer and installer of solar power systems in the United States, yesterday posted its third-quarter results for the three months ended September 30, 2009, reflecting growth and continued demand in residential applications.

The company reported net sales at $7.7 million as compared to $10.6 million for the same quarter last year, up from $5.9 million in the second quarter of 2009. The company attributes the year-on-year decline to the credit crunch and global overbearing economic conditions. However, the increase in net sales from the second quarter reflects higher residential sales.

“Our third-quarter results demonstrate the growing demand for residential solar installations and the improving leverage in our business model,” Barry Cinnamon, president and CEO of Akeena Solar stated in the press release. “The benefits of our differentiated Andalay panels and lower Andalay installation costs drove gross margin to 24.7%, double last year’s level, and

...

Rotterdam, The Netherlands, Munich, Germany -- 1 April 2009 - "In 2010, PV will be by far the most cost-effective way of generating electricity. The solar PV market in California will explode once people discover that they can generate their own rooftop power for less than it costs from their utility," says Barry Cinnamon, long-term expert, CEO and founder of solar system integrator Akeena Solar in California.

October 16, 2008 – We attended the Solar International Expo this week in San Diego and were amazed by the participation and attendance for the event by the industry trade, as well as Wall Street. On Tuesday, Lazard held a closed conference for the industry’s leading solar firms, attended by its institutional clients, and yesterday, Piper Jaffray held a Symposium of its own for leading solar firms, and we attended that event, with a client of ours Premier Power (OTCBB:PPRW). Other firms in attendance at Piper’s Symposium were JA Solar (Nasdaq:JASO), GT Solar (Nasdaq:SOLR), Canadian Solar (Nasdaq:CSIQ), Applied Materials (Nasdaq:AMAT), Energy Conversion Devices (Nasdaq:ENER), LDK Solar (NYSE:LDK), BP Global Wind and Solar (NYSE:BP), Suntech Power (NYSE:STP), ReneSolar (NYSE:SOL), Trina Solar (NYSE:TSL), Akeena Solar (Nasdaq:AKNS), Q-Cells (QWV.DE) and Solarfun (Nasdaq:SOLF). Here are some of our notes from the presentations: Overall, one of the takeaways was that there are expectations for further ...