Solar power energizes financial markets II

by Antonio Pasolini on February 25, 2008

It seems like 2008 will be a leap year in more ways than one. In the case of solar power, this type of clean energy has lept to the front pages of the financial pages of newspapers as companies deliver impressive results. The latest positive news coming from the solar power front was published by the Wall Street Journal, which ran a report about First Solar‘s results. “Enthusiasm about the prospects for big solar projects and an increase in orders lifted First Solar Inc. to a stunning 795.2% total return in 2007, making it the top one-year performer among 1,000 companies in this year’s Shareholder Scoreboard”, wrote the WSJ. Impressive indeed.

“During the fourth quarter of 2007 we benefited from the full capacity and economies of scale of our Frankfurt/Oder plant. This combined with continued throughput and conversion efficiency gains afforded us strong operating leverage and decreased our manufacturing cost per watt by 12% year over year to $1.12 per watt in the fourth quarter of 2007, further solidifying our cost leadership position in the industry,” said Michael J. Ahearn, Chief Executive Officer of First Solar.

Here’s the other blog we published recently about a flurry of positive financial results posted by other solar power companies.

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