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SunPower to Supply 64MW Panels for French Rooftop Projects
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SunPower Corporation (SPWR - Free Report) , a subsidiary of TOTAL S.A. , has been selected to supply solar panels for France’s rooftop solar projects. As part of the project, the company needs to supply 64 megawatts (MW) of its high efficiency SunPower® E-Series solar panels.
Most of these solar panels will be manufactured at the company's facilities in France.
Order Inflow Continues
This is the second time in 2017 SunPower has been awarded a contract to supply high efficient solar panels. In Mar, the company was selected to supply 130 MW of its high efficiency SunPower® E-Series solar panels for rooftop solar projects.
Earlier in May, SunPower initiated the construction of a 28 MW solar photovoltaic system at Vandenberg Air Force Base near Lompoc, CA. (Read more: SunPower to Build 28 MW Air Force Solar Project)
What Lies Ahead for the Solar Industry?
With growing concerns regarding climatic changes, many countries across the globe are focusing on solar and wind generation. Solar power is expected to become one of the major energy sources.
U.S solar companies are serving customers globally as the big economies are willing to explore the power of the sun. China remains the biggest market for these companies, followed by India and Japan.
More Focus on Renewable Sources
Most of the utility service providers of the country have been working steadily to expand their renewable energy portfolio. The rise in greenhouse gases has forced the entire globe to look for eco-friendly energy opportunities. Thus such companies have shifted their focus towards solar, wind and hydro power. EIA reported that at the end of 2016, wind generators constituted about 8% of the operating electric generating capacity in the U.S.
Another report by EIA stated that carbon emission in the U.S. witnessed a dip of almost 1.7% in 2016 year on year. The generation capacity from the renewable sources is expected to rise significantly over the upcoming years.
Peer in News
In Apr 2017, ReneSola Ltd (SOL - Free Report) announced that it has entered into an agreement with New York-based Greenbacker Renewable Energy Company, LLC to sell its utility-scale project located in North Carolina. (Read more: ReneSola Inks Deal to Sell 6.75MW of Solar Project in NC)
Price Movement
In the last six months, SunPower has outperformed the Zacks categorized Solar industry. During this period, the company’s shares gained 20.5%, compared to the industry’s gain of 15.3%.
The company’s focus on expanding its services to the untapped global market has boosted its performance.
SolarEdge Technologies' 2017 Zacks Consensus Estimate moved up by approximately 14.4% to $1.11 per share in the last 60 days.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
SunPower to Supply 64MW Panels for French Rooftop Projects
SunPower Corporation (SPWR - Free Report) , a subsidiary of TOTAL S.A. , has been selected to supply solar panels for France’s rooftop solar projects. As part of the project, the company needs to supply 64 megawatts (MW) of its high efficiency SunPower® E-Series solar panels.
Most of these solar panels will be manufactured at the company's facilities in France.
Order Inflow Continues
This is the second time in 2017 SunPower has been awarded a contract to supply high efficient solar panels. In Mar, the company was selected to supply 130 MW of its high efficiency SunPower® E-Series solar panels for rooftop solar projects.
Earlier in May, SunPower initiated the construction of a 28 MW solar photovoltaic system at Vandenberg Air Force Base near Lompoc, CA. (Read more: SunPower to Build 28 MW Air Force Solar Project)
What Lies Ahead for the Solar Industry?
With growing concerns regarding climatic changes, many countries across the globe are focusing on solar and wind generation. Solar power is expected to become one of the major energy sources.
U.S solar companies are serving customers globally as the big economies are willing to explore the power of the sun. China remains the biggest market for these companies, followed by India and Japan.
More Focus on Renewable Sources
Most of the utility service providers of the country have been working steadily to expand their renewable energy portfolio. The rise in greenhouse gases has forced the entire globe to look for eco-friendly energy opportunities. Thus such companies have shifted their focus towards solar, wind and hydro power. EIA reported that at the end of 2016, wind generators constituted about 8% of the operating electric generating capacity in the U.S.
Another report by EIA stated that carbon emission in the U.S. witnessed a dip of almost 1.7% in 2016 year on year. The generation capacity from the renewable sources is expected to rise significantly over the upcoming years.
Peer in News
In Apr 2017, ReneSola Ltd (SOL - Free Report) announced that it has entered into an agreement with New York-based Greenbacker Renewable Energy Company, LLC to sell its utility-scale project located in North Carolina. (Read more: ReneSola Inks Deal to Sell 6.75MW of Solar Project in NC)
Price Movement
In the last six months, SunPower has outperformed the Zacks categorized Solar industry. During this period, the company’s shares gained 20.5%, compared to the industry’s gain of 15.3%.
The company’s focus on expanding its services to the untapped global market has boosted its performance.
Zacks Rank and Other Stock to Consider
SunPower carries a Zacks Rank #2 (Buy). A better-ranked stock in the same space is SolarEdge Technologies, Inc. (SEDG - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SolarEdge Technologies' 2017 Zacks Consensus Estimate moved up by approximately 14.4% to $1.11 per share in the last 60 days.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>