Green energy stocks in bargain-basement territory

The plunge in pure-play green-tech stocks

Company Country Sector Symbol Exchange Price (Feb. 23) Change since January, 2008

Suntech Power China Solar panels STP NYSE $3.23 (U.S.) -96%
JA Solar China Solar cells JASO Nasdaq $1.94 -92%
First Solar U.S. Solar modules FSLR Nasdaq $37.20 -86%
SunPower U.S. Solar panels SPWR Nasdaq $7.91 -94%
Q-Cells Germany Solar cells QCE Frankfurt €0.32 -99%
Renewable Energy Norway Silicon REC Oslo 4.62 kroner -98%
Vestas Wind Systems Denmark Wind turbines VWS Copenhagen 57.10 kroner -90%
Gamesa Spain Wind turbines GAM Madrid €2.67 -91%
Suzlon Energy India Wind turbines SUZL Mumbai 27.95 rupees -93%


Green energy's deadly doldrums

by RICHARD BLACKWELL, Globe and Mail

The numbers are dismal. The stock of Denmark’s Vestas Wind Systems AS, the world’s biggest wind turbine maker, has plunged 90 per cent over the past four years. The United States’ leading solar firm, First Solar Inc., (FSLR-Q35.58-1.62-4.35%) has fallen from more than $250 (U.S.) to just over $40 in that same period. And Norway’s huge solar equipment maker Renewable Energy Corp. is trading at one-fortieth of its price at the start of 2008.

It’s a similar story at Spain’s turbine maker Gamesa Corp., China’s big solar cell maker Suntech Power Holdings, (STP-N3.06-0.15-4.67%) and India’s turbine manufacturer Suzlon Energy Inc. All have seen their shares tank over the past few years. Q-Cells, Germany’s huge solar cell maker, had to restructure its debt to stave off bankruptcy.

What’s happened to these former high fliers? “They’ve been hit with a quadruple whammy,” said Tom Konrad, editor of the AltEnergyStocks.com website. The key issues:

-Low natural gas prices (NG-FT2.52-0.03-1.10%) have made that fuel a cheap means of generating power, cutting into renewables.

-Massive new production, particularly in China, has caused a glut of solar panels, pushing prices down sharply.

-The political climate has become less favourable to renewables, both in Europe and North America.

-The global economic downturn has prompted governments and corporations to tighten support and spending on renewables. And things could get worse: On Thursday, Germany said it will cut its solar subsidies more quickly than expected.

Mr. Konrad said he thinks some of these renewable-energy companies – particularly in the solar sector – are ready for a rebound. However, they are not likely to get back to their 2007-08 levels in the short or medium term, he said. Some companies probably will disappear through consolidation, although the incentive to buy up rivals right now is diminished by the overcapacity in the sector.

Analyst MacMurray Whale of Cormark Securities Inc. said he thinks it is unlikely there will be any kind of widespread recovery among renewable stocks until the global economy improves. “Green [is seen] as a luxury you can afford when everybody feels rich,” he said.

While some solar stocks have improved a bit recently, there will likely not be any significant rebound in that sub-sector until there is consolidation and production capacity is reduced, Mr. Whale said. “There is just not enough demand to soak up that capacity. We are seeing bankruptcies and real struggles, and we are going to continue to see that.”

Big companies, such as Vestas and First Solar, have strong balance sheets, he said, allowing them to survive – albeit with lower margins – until things pick up. But stock prices are not going to show any significant recovery for a considerable time, he predicts. “They could bounce around [at these levels] for years.”

The approach many investors are taking is to look for individual stocks in the clean-technology space that appear to have some momentum, Mr. Whale said. Some are buying Canadian natural gas engine-maker Westport Innovations, (WPT-T43.961.533.61%) for example because it is a play on low gas prices. But they are not diving into renewables more broadly.

Ric Palombi, a portfolio manager at McLean & Partners in Calgary, said the big pure-play clean technology firms pop up on his screen as potential investments because the stocks are so cheap at the moment. But that’s not a good enough reason to invest, because the current prospects for the industry are still poor until governments start to spend on the sector again. Until that happens, “What is the catalyst? What is going to move the stock?” he asks.

A better bet for investors is to consider utilities, power producers or developers who can actually take advantage of the downward pressure in equipment prices. Mr. Palombi said he owns Brookfield Renewable Energy Partners LP, (BEP.UN-T27.39-0.20-0.72%) a Canadian dividend-paying stock with power plants in Canada, the U.S. and Brazil. In contrast to the equipment makers, it has seen its stock rise about 35 per cent since the beginning of 2008.

Wikipedia's list of global clean energy stocks

Best green power companies - Worldwide renewable energy companies

The list from wikipedia consists of companies whose primary produce is either renewable energy or renewable energy products and services. Public renewable energy companies are listed by stock exchange and symbol.

Company Exchange Symbol IPO Industry

Abengoa, SA BMAD ABG - Solar thermal

Aleo solar FWB AS1 2006 Photovoltaics

Alternative Energy, LTD LSE ALR 2003 Renewables

Americas Wind Energy Corporation OTC AWNE 2006 Wind

Anwell Technologies SGX G5X 2004 Photovoltaics

Applied Solar, INC NASDAQ - 2005 Photovoltaics

Ascent Solar Technologies, INC NASDAQ ASTI 2006 Photovoltaics

Aventine Renewable Energy NYSE AVR - Bioenergy

Ballard Power Systems NASDAQ BLDP 1995 Fuel Cell

Canadian Solar, INC NASDAQ CSIQ 2006 Photovoltaics

Centrosolar Group, AG FWB C3O 2005 Photovoltaics

Ceramic Fuel Cells, LTD ASX CFU 2004 Fuel Cells

China Power New Energy HKSE 0735 1999 Wind/Hydro/Biomass

China Sunergy Co, LTD NASDAQ CSUN 2007 Photovoltaics

Clipper Windpower, PLC LSE CWP 2005 Wind

Comtec Solar Systems HKSE 712 2009 Photovoltaics

Conergy, AG FWB CGY - Photovoltaics

Clenergen Corporation, OTC CRGE - Biomass

DayStar Technologies, INC NASDAQ DSTI 2004 Photovoltaics

DelSolar Co, LTD GTSM 3599 - Photovoltaics

Dyesol, LTD ASX DYE 2005 Photovoltaics

Eaga, PLC LSE EAGA 2007 Energy Efficiency

Enbridge, INC TSX ENB 1957 Wind, Solar, Fuel Cell, Geothermal

Energy Conversion Devices, INC NASDAQ ENER 1993 Photovoltaics

E-ton Solar Technology Co, LTD TSE 3452 - Photovoltaics

Evergreen Solar, INC NASDAQ ESLR 2000 Photovoltaics

EnviroMission, LTD ASX EVM 2005 Solar Thermal

EDP Renováveis, SA BVLP EDPR 2007 Wind [1]

Finavera Renewables, INC TSX-V FVR 2006 Renewables

First American Scientific Corp. OTCBB FASC 1995 Biomass

First Solar Holding, LLC NASDAQ FSLR 2007 Photovoltaics

Gamesa Corporación Tecnológica BMAD GAM 2000 Wind

Gintech Energy Corporation TSE 3514 2007 Photovoltaics

Good Energy Group, PLC LSE GEGP - Renewables

Green Energy Holding Corporation OTC GEYO 2007 Renewables

Green Plains Renewable Energy, INC NASDAQ GPRE 2007 Ethanol Quote

GT Solar International, INC NASDAQ SOLR 2008 Solar Mfg Equipment

Iberdrola Renovables, SA BMAD IBR December 2007 Wind, Solar, Biomass

Innergex Renewable Energy Inc. TSX INE 2007 Renewables

JA Solar Holdings Co, LTD NASDAQ JASO 2007 Photovoltaics

Kedco PLC AIM KED 2008 Bio Energy

Jetion Solar Holdings LTD AIM JHL 2007 Photovoltaics

LDK Solar Co, LTD NYSE LDK 2007 Photovoltaics

Mass Megawatts Wind Power OTC MMGW 2001 Wind

Motech Industries Inc. TSE 6244 2003 Photovoltaics

Neo Solar Power Corporation TSE 3576 2008 Photovoltaics

Nevada Geothermal Power, INC OTC NGLPF 2005 Geothermal

Nordex, AG FWB NDX 2001 Wind

Phoenix Solar, AG FWB PS4 2004 Photovoltaics

PV Crystalox Solar, PLC LSE PVCS 2007 Photovoltaics

Q-Cells, AG FWB QCE - Photovoltaics

Ram Power, Corp. RPG RPG - Geothermal

ReneSolar, LTD AIM SOL 2007 Photovoltaics

Renewable Energy Corp, ASA OSX REC 2006 Photovoltaics

Renewable Energy Generation, LTD LSE RWE 2005 Renewables

Renewable Energy Holdings, PLC LSE REH 2005 Renewables

Renewable Energy Resources, INC OTC RWER 2008 Hydro

Renewagy, AS OMX REN - Renewables

REpower Systems, AG FWB RPW 2006 Wind

Run of River Power Inc. TSX-V ROR 2005 Hydro

S.A.G. Solarstrom, AG FWB SAG - Photovoltaics

Solar-Fabrik, AG FWB SFX - Photovoltaics

Solarfun Power Holdings Co, LTD NASDAQ SOLF 2006 Photovoltaics

SolarWorld, AG FWB SWV - Photovoltaics

Solco, LTD ASX SOO 2000 Solar Thermal

SunPower Corporation NASDAQ SPWR 2005 Photovoltaics

Suntech Power NYSE STP 2005 Photovoltaics

Tiger Renewable Energy, LTD OTC TGRW - Ethanol

Trina Solar, LTD NASDAQ TSL 2006 Photovoltaics

Verenium Corporation NASDAQ VRNM - Biofuels

Vestas Wind Systems, AS OMX VWS - Wind

WaterFurnace Renewable Energy, Inc. TSX WFI 2001 Geothermal

Western Wind Energy Corp. TSX-V WND 2001 Wind

Windflow Technology, LTD NZAX WTL 2001 Wind

Yingli Green Energy Holding Co, LTD NYSE YGE 2007 Photovoltaics


Full Wikipedia list of green power companies with links to stock quotes and financials

Specific green energy stocks UP in today's DOWN market

Even though the Dow Jones was off 228 and NASDAQ fell an equivalent 51 points, a few rays of sunshine fought through the tumult. Most stocks were down today, however these names (primarily green energy companies) were flat or up on the day.

Stocks Up Today, Thursday, March 10th, 2011:

Name Symbol Last price Change Mkt cap Volume Open High Low

Carbon Sciences, Inc. CABN 0.0750* +0.0095 (14.50%) 14.76M 250,454.00 0.075 0.075 0.065
Applied Solar Inc APSOQ 0.0027* +0.0003 (12.50%) 363,535.00 2,000.00 0.0027 0.0027 0.0027
Solar Power Inc SOPW 0.440* +0.030 (7.32%) 23.01M 27,475.00 0.4 0.45 0.39
Shear Wind Inc SWX 0.265* +0.015 (6.00%) 38.66M 4,282.00 0.27 0.27 0.265
Cleanfield Alternative... AIR 0.095* +0.005 (5.56%) 2.91M 48,000.00 0.09 0.095 0.09
C&D Technologies, Inc. CHHP 0.210* +0.010 (5.00%) 7.64M 40,596.00 0.2 0.21 0.2
Catch the Wind Ltd. CTW 0.650* +0.030 (4.84%) 52.32M 11,650.00 0.59 0.65 0.59
ARISE Technologies Corp. APV 0.125* +0.005 (4.17%) 24.05M 353,680.00 0.125 0.125 0.12
AeroVironment, Inc. AVAV 33.80 +1.32 (4.06%) 740.13M 644,616.00 32 34.35 31.73
FuelCell Energy, Inc. FCEL 1.86 +0.07 (3.91%) 229.14M 6.33M 1.98 1.99 1.85
Solar EnerTech Corp. SOEN 0.0950* +0.0030 (3.26%) 16.29M 23,350.00 0.091 0.1 0.09
Nevada Geothermal Power... NGP 0.640* +0.020 (3.23%) 74.43M 199,185.00 0.64 0.64 0.6
Ascent Solar Tech., Inc. ASTI 2.69 +0.06 (2.28%) 86.87M 234,001.00 2.61 2.71 2.5
ReneSola Ltd. (ADR) SOL 8.79 +0.18 (2.09%) 764.05M 5.08M 8.33 8.88 8.3
Suzlon Energy Limited 532667 48.50 +0.95 (2.00%) 86.20B 3.75M 47.15 48.9 46.9
A-Power Energy Generatio... APWR 4.84 +0.09 (1.89%) 224.40M 460,630.00 4.76 4.87 4.65
Rare Element Resources... RES 10.94* +0.08 (0.74%) 472.28M 230,943.00 10.85 11.22 10.56
Ultralife Corp. ULBI 5.20 +0.03 (0.58%) 89.66M 99,564.00 5.12 5.45 5.08
5N Plus Inc. VNP 9.24* +0.05 (0.54%) 421.88M 97,759.00 9.32 9.32 8.96
Xinjiang Goldwind Sci &... 002202 20.23 +0.06 (0.30%) 44.42B 3.80M 20.1 20.28 20.05
Nordex SE NDX1 6.00* +0.02 (0.33%) 401.07M 371,045.00 5.95 6.11 5.92
Kopin Corporation KOPN 4.16 +0.01 (0.24%) 269.86M 507,426.00 4.09 4.17 4.02
Approach Resources Inc. AREX 28.75 +0.03 (0.10%) 809.63M 1.37M 28.32 30.5


Stocks Unchanged, Thursday, March 10th, 2011:

Name Symbol Last price Change Mkt cap Volume Open High Low

TNR Technical, Inc. TNRK 13.95* 0.00 (0.00%) 4.28M 0.00
SANYO Electric Co... SANYY 7.40* 0.00 (0.00%) 9.09B 175.00 7.4 7.4 7.4
New Energy Tech., Inc. NENE 1.02* 0.00 (0.00%) 63.04M 210,382.00 1.01 1.05 0.96
Ocean Power Tech., Inc. OPTT 5.01 0.00 (0.00%) 52.19M 13,130.00 4.97 5.01 4.95
Real Goods Solar, Inc. RSOL 2.60 0.00 (0.00%) 47.60M 28,200.00 2.65 2.66 2.5
Western Lithium USA... WLC 1.40* 117.45M 0.00
China Windpower Group... 0182 0.790* 0.000 (0.00%) 5.75B 530,000.00 0.78 0.79 0.78
SIERRA GEOTHERMAL POWER... SRA 0.210* 28.00M 0.00
Torrens Energy Limited TEY 0.083* 0.000 (0.00%) 5.28M 15,500.00 0.083 0.083 0.083
Q-CELLS AG THALHEIM QCLSF 4.07* 0.00 (0.00%) 608.31M 0.00
Nacel Energy Corporation NCEN 0.0520* 0.0000 (0.00%) 2.72M 465,593.00 0.05 0.062 0.05
XZERES Wind Corp. XWND 2.18* 0.00 (0.00%) 28.95M 750.00 2.18 2.18 2.18
Renegy Holdings, Inc. RGYH 0.200* 0.000 (0.00%) 1.30M 0.00
Akeena Solar, Inc. WEST 0.540 0.000 (0.00%) 24.72M 186,354.00 0.55 0.55 0.51
Magma Energy Corp MXY 1.42* 0.00 0.00% 352.93M 0.00
American Environmental... AEEI 0.0800* 0.0000 (0.00%) 2.40M 0.00
Hy Drive Technologies... HGS 0.165* 0.000 (0.00%) 12.54M 53,600.00 0.16 0.165 0.145
Maxim Power Corp. MXG 2.77* 0.00 (0.00%) 149.68M 2,900.00 2.72 2.77 2.72
GWS Technologies Inc GWSC 0.0450* 0.0000 (0.00%) 517,567.00 14,215.00 0.045 0.045 0.0275
Zongshen PEM Power... ZPP 0.770* 0.000 (0.00%) 102.79M 8,700.00 0.81 0.81 0.77
Solid Resources Ltd. SRW 0.165* 0.000 (0.00%) 13.10M 0.00
Cree, Inc. CREE 46.99 0.00 (0.00%) 5.14B 4.51M 47.29 48.38 46.51
Hydrogenics Corporation HYG 4.58* 0.00 (0.00%) 25.14M 8.00
WaterFurnace Renewable... WFI 27.67* 334.60M 0.00
Great Canadian Gaming... GC 7.96* 0.00 (0.00%) 659.00M 151,572.00 7.96 8.01