Gordon Johnson, the Axiom Capital Management Inc. analyst who predicted “Armageddon” for the solar industry 14 months ago, said the crash that wiped $27 billion off the value of the shares last year may be over.
An index of Chinese solar manufacturers led by LDK Solar Co. and Suntech Power Holdings Co. rose the most in eight weeks as China announced a tax rebate for power produced from sunlight and more panel makers begin developing their own projects.
Trina Solar Ltd., China’s third- largest maker of solar panels, is shifting its focus to profitable orders and away from deals aimed primarily at gaining market share, in an effort to curtail “irrational” pricing.
On grassy pasture in western Spain, Fotowatio SL is preparing to build a solar plant to supply electricity 25 percent cheaper than a local utility charges for traditional power, a breakthrough that’s sending tremors through the global energy industry.
Trina Solar Ltd. fell to its lowest in more than three years after cutting its forecast for second- quarter shipments by about a fifth on project delays in China and the effect of U.S. anti-dumping duties.
Chinese equities rose in New York, driven by Trina Solar Ltd. and Yingli Green Energy Holding Co. on speculation investors are favoring solar makers with sufficient cash after Suntech Power Holdings Co. defaulted.