Energy

China Boosts Solar Installation Goal by 2015 by 4x

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…

By Paul Ausick
Published July 3, 2012, 11:46am ET · 2 min read

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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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Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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