Anybody else get the impression that FirstSolar had a lukewarm view of setting up a Solar Yieldco? I think it's interesting that Wall St. is so enamored with solar yieldco's right now that--had First Solar expressed a lot of enthusiasm, this might have temporarily boosted their stock price. But they didn't. Perhaps they see a yieldco as unnecessary in the context of their current business model of selling a project it's developed and built. And after a project is built and sold, they then enter into agreements to operate and maintain those solar plants, and so make money without being exposed to fluctuations or downward trends in the price of electricity. This might be a smart strategy, at least for now. I could see certain scenarios where the price of solar-produced electricity could keep going lower and lower as efficiency goes up and installation cost goes down. This might end up making some solar yieldcos toxic in the long run.
Not to mention discontinuance of subsidies, higher inflation and interest rates and trouble stirred up by power companies on the defensive could also have an affect on the long-term desirability of yieldcos.
Funny how everyone was saying FSLR was going to announce a yieldco this quarter - and now that they are lukewarm on it you guys are now against it. I'm guessing most of those in favor of the yieldcos don't understand it and don't understand that is bad for shareholders. Also, subsidies are not being discontinued. The 30% tax credit expires at the end of 2016, but are not eliminated, they revert back to the old 10% tax credit. Also, there is a high likelihood that the tax credits will be extended - but Congress won't touch it until the very last minute. The 5-year accelerated depreciation is also not going away.