| Canadian Solar (CSIQ) to Supply 112 MW Modules to Sunrun | |
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Solar power company Canadian Solar Inc. CSIQ announced that it has received an order from Sunrun Inc. RUN to supply 112 megawatt (“MW”) of Canadian Solar CS6P-265P PV modules. The solar modules will be utilized by Sunrun to help more families in the U.S. to switch from conventional sources of energy to solar.
Last week, the company secured a power supply contract for three solar photovoltaic (“PV”) projects, with a total capacity of 110 megawatt-peak (“MWp”), located in Pirapora in the Brazilian state of Minas Gerais (read:Canadian Solar (CSIQ) Wins 110 MW Solar Projects in Brazil). U.S. Solar Scenario
Increasing usage of alternate energy is almost guaranteed in the U.S. by the new Environmental Protection Agency ("EPA") program – Clean Power Plan – finalized in Aug 2015. The Clean Power Plan calls for CO2 reductions of 28% by 2025 and 32% by 2030, from 2005 levels. This is slightly stricter than the draft proposal wherein the EPA had proposed total CO2 reduction of 29% by 2025 and 30% by 2030.
Per a U.S. Energy Information Administration (EIA) release, utility-scale solar capacity in the U.S. is expected to increase 118% (12 GW) between 2014 and 2016 end.
Global Scenario
Awareness of the benefit of alternate energy in electricity generation has led to larger solar installations across the globe. China, India and Japan are targeting to add nearly 100 GW in their electricity generation system by 2020, 2022 and 2030, respectively. Since the sun is everywhere, solar projects are coming up in other parts of the world as well.
To accomplish these ambitious goals, we expect to see larger utility scale solar projects in the above mentioned countries. This will invariably require solar modules in larger quantities to complete the projects. Besides Canadian Solar, we expect other players like FirstSolar Inc. FSLR, SunPower Corporation SPWR and JA Solar Holdings Inc. to play a crucial role in the solar boom.
Canadian Solar Inc. currently has a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CANADIAN SOLAR (CSIQ): Free Stock Analysis Report FIRST SOLAR INC (FSLR): Free Stock Analysis Report SUNPOWER CORP-A (SPWR): Free Stock Analysis Report SUNRUN INC (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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First Solar is based in United states of america. First Solar is listed in Germany and in United States of America. Its market capitalisation is US$ 18.5 billions as of today (€ 17.3 billions). Its stock quote reached its lowest recent point on June 11, 2010 at US$ 100.19, and its highest recent level on May 01, 2024 at US$ 177.58. First Solar has 104 270 000 shares outstanding. |