Settlement Date Short Interest Avg Daily Share Volume Days To Cover
11/30/2012 5,553,193 1,445,041 3.842931
11/15/2012 5,924,688 696,431 8.507215
10/31/2012 6,383,117 914,177 6.982364
10/15/2012 6,134,462 599,785 10.227768
9/28/2012 6,085,687 1,158,906 5.251234
9/14/2012 6,501,224 1,306,208 4.977174
8/31/2012 6,322,377 1,119,000 5.650024
8/15/2012 6,069,121 1,460,822 4.154593
7/31/2012 6,248,265 2,205,581 2.832934
7/13/2012 6,337,373 1,248,396 5.076412
6/29/2012 6,452,504 2,270,375 2.842043
6/15/2012 7,489,425 1,809,206 4.139620
5/31/2012 8,452,020 2,120,870 3.985166
5/15/2012 9,780,049 1,454,631 6.723388
4/30/2012 10,445,535 1,308,459 7.983082
4/13/2012 11,574,342 1,614,616 7.168480
3/30/2012 11,367,686 4,302,041 2.642394
3/15/2012 11,278,018 2,470,444 4.565179
2/29/2012 12,512,024 6,373,449 1.963148
2/15/2012 11,611,539 7,791,840 1.490218
1/31/2012 14,956,690 5,717,124 2.616121
1/13/2012 13,730,852 4,345,195 3.160008
12/30/2011 13,661,380 1,710,258 7.987906
12/15/2011 16,482,243 2,258,624 7.297471
Read more: http://www.nasdaq.com/symbol/yge/short-interest#ixzz2Et9IW3Ob
11. DECEMBER 2012
China's Ministries of Finance, and Science and Technology, and its National Energy Administration have released figures for projects under the Golden Sun Program. Overall, it is expected that 2.835 GW of solar will be installed.
A total of 2.835 GW of solar projects will be installed across China under the next batch of the government’s Golden Sun Program, it has been announced today, December 11. In addition to publishing a list of the projects to be installed in the various provinces, the government has also identified the companies that will work on them.
At 268 MW,
Yingli Green Energy
is expected to supply approximately 10% of the photovoltaic modules required for the projects. Meanwhile, Trina Solar will work on the around 10 MW Trina Solar Golden Sun demonstration project in Jiangsu Province.
Also in Jiangsu Province, EGing Photovoltaic Technology Co., Ltd has been given the go ahead to undertake a 13.6 MW rooftop project, and in Jiangxi Province, Jinko Solar will work on an around 16 MW demostration project in Shangrao Economic and technical development Zone.
LDK SoLar Hi-TEch (HeFei) Co., Ltd has also been awarded two projects – the 20 MW Solar-power project in Ezhou agriculture demonstration unit in Hubei Province, and 20 MW worth of Net power generation projects in China’s Hunan Province.
Quickly becoming the new industry buzzword, distributed power generation, led by photovoltaics, is set to "rapidly" expand over the next five years to reach an annual installation rate of 63.5 GW by 2017.
According to Pike Research's latest Renewable Distributed Energy Generation
report, centralized energy generation is becoming more costly and, when taking into consideration an expanding population with escalating energy needs, decentralized structures are increasingly presenting more cost-effective options. Specifically, it says renewable distributed energy generation (RDEG) is "uniquely positioned to disrupt this traditional paradigm".
Over the next five years, the research company predicts that RDEG will grow almost three-fold to reach annual installations of 63.5 GW a year in 2017. Between now and then, it says nearly 232 GW of capacity will be added, of which photovoltaics is expected to account for 210 GW.
In 2011, 20.6 GW of RDEG was said to have been installed, thus representing global revenues of US$66.5 billion. Europe is the leader in terms of installed capacity, with Germany and Italy reportedly accounting for 58 percent of the market. Meanwhile, in the Asia Pacific region, China was said to comprise 49 percent of all RDEG installations.
For this year, Pike Research estimates that while Europe, North America and Asia Pacific will continue to lead growth, markets like Africa and the Middle East are becoming "indispensable". "Europe will continue to be the largest market for RDEG during this forecast period … but Asia Pacific, led by China, will grow the fastest as untapped domestic markets for RDEG installations emerge," write the authors.
They add, "North America, led by the United States, will see significant growth as the cost of renewable energy approaches that of conventional energy in many parts of the country and the solar lease and power purchase agreement business models gain momentum. Meanwhile … developing countries are increasingly looking to RDEG technologies as a critical piece to their short- and long-term growth."
This swing from centralized to decentralized is said to have been driven by a shift in the economic, environmental, social and political landscapes, following such changes as the modern scale of fossil fuel and renewable energy systems, and growing environmental concerns.
The report’s authors add, "The centralized power generation, transmission, and distribution model is growing more costly to maintain at current levels, let alone expand to meet the rising electricity needs of growing (and increasingly city-dwelling) populations. Therefore, despite being smaller in scale, renewable distributed energy generation (RDEG) sources such as distributed solar photovoltaics (PV), small wind, and stationary fuel cells, with less need for transmission and little to no emissions, are uniquely poised to turn the 20th century power production paradigm on its head."
They go on to point out the two energy concepts are not mutually exclusive, and admit that RDEG, which currently contributes less than one percent to the total electricity generated, is still in its infancy, compared to centralized energy models.
"That said," they state, "RDEG is rapidly maturing and expected to play an increasingly important role in meeting the energy challenges of the 21st century. One such indicator is that in a growing number of cases around the world, RDEG technologies are more cost-effective than centralized installations that require transmission to population centers. In many ways, the overall momentum is shifting to RDEG sources that inherently provide consumers more control over the electricity they consume and generate."
In order for RDEG to realize its full potential however, Pike Research says investments must be made, new business models created, technology developed, and utilities must become involved. Furthermore, they believe such financing options as solar leasing programs, will help drive the market as the technology becomes more available to end-consumers.
China Begins Picking Solar Winners and Losers
By Travis Hoium
December 12, 2012
But we may be seeing a peak into whom China will choose to emerge as a long-term winner, and what qualities it's looking for.
Chinese solar manufacturers including Yingli Green Energy Holdings Co. (YGE) and Trina Solar Ltd. (TSL) jumped after three separate reports indicated the government is adding financial support for an industry struggling with falling prices.
China allocated 13 billion yuan ($2 billion) in subsidies for domestic solar companies this year, the Xinhua News Agency reported. The Shanghai Securities News said officials may double their target for solar installations. The Ministry of Science and Technology confirmed subsidies for more than 100 developers including Trina and Yingli.
The moves throw a lifeline to the biggest solar-panel manufacturers and their suppliers after a glut of capacity depressed prices and profits worldwide. In recent weeks, the government also extended loans to the industry through China Development Bank Corp. and allowed local authorities to extend support.
Yingli rose 18 percent to $2.14 at the close in New York, the most since Feb. 9. Trina increased 10 percent, and JinkoSolar Holding Co. climbed 19 percent. GCL-Poly Energy Holdings Ltd. (3800), which makes polysilicon that’s the main raw material for solar panels, gained 11 percent in Hong Kong.
“The government is providing subsidies to save the industry,” Wang Xiaoting, an industry analyst for Bloomberg New Energy Finance in Beijing, said in an interview today.
Even with the government support, falling prices are driving down margins and manufacturers aren’t making profits, said Aaron Chew, an analyst at Maxim Group LLC in New York.
“The stocks are generally oversold and given up for dead. When you get positive news like this they rip,” Chew said in an interview today.
China, the world’s biggest maker of solar modules, chose developers with a combined 2.8 gigawatts of capacity to receive subsidies, according to a statement from the Ministry of Science today.
The government may pay at least 15.4 billion yuan for the projects if they are completed by the end of June, Wang said.
The total capacity chosen in 2012, including 1.7 gigawatts selected in the first round, is seven times more than previous years, said Lian Rui, a Beijing-based analyst at research company NPD Solarbuzz.
“China uses the program to offer cash sooner to developers, rather than preferential power prices, to boost installations,” Lian said.
Separately, Xinhua said China allocated a total of 13 billion yuan this year from central government funds for domestic solar installations.
The funds will be spent on solar power demonstration projects with 5.2 gigawatts of capacity, Xinhua said, citing an unidentified official from the Ministry of Finance. China will provide an incentive of 5.5 yuan a watt for projects whose developers will consume the power for their own use.
The subsidies will be raised to 18 yuan a watt for residential systems and 25 yuan a watt for independent photovoltaic power plants, the government-owned news agency said.
The nation chose 4.5 gigawatts of solar projects eligible for subsidies under the Golden Sun program this year.
The government will focus on selecting large-scale projects and
big companies for demonstration projects, Xinhua reported. Two phone calls to the ministry’s Beijing-based press office went unanswered.
Yesterday, the Shanghai Securities News reported the government may boost its target for expanding solar capacity to 40 gigawatts between 2011 and 2015 from 21 gigawatts previously. It cited unidentified industry officials.
Seeing double: Beijing’s solar stunner
Published 11:11 AM, 13 Dec 2012
China, CleanTech, solar manufacturers, solar power, Policy & Science
It is no secret that Chinese solar manufacturers are struggling, many flailing under debt loads so big they would be bust if it weren’t for the generous backing of the nation’s banks. What few comprehend however, is just how
strategically Beijing views the sector.
It is a burgeoning industry China wants to dominate in the next decade.
If that wasn’t clear last week, it should be now, after state news agency Xinhua broke two significant news stories this week:
1) China intends to elevate its upper limit for solar capacity to 40 gigawatts by 2015, from a previously announced 21 GW. This will likely include 3 GW of solar thermal power; and
2) Beijing will double solar subsidies this year.
On Tuesday, Xinhua quoted an industry source saying that the upper limit would be lifted to around 40 GW, although the exact amount is yet to be finalised. The figure would be more than
a ten-fold increase
on generation capacity as of the end of 2011 and comes after three lifts in the past year and a half.
The latest, in August, saw Beijing raise the target 40 per cent to 21 GW.
Then, on Wednesday, the Chinese government more than doubled solar subsidies dished out in 2012.
The Ministry of Finance said it would allocate another $A1.05 billion to subsidise local solar PV demonstration projects. Earlier in the year it offered around $A900 million, with the funds to be directed to projects that should generate 5.2 GW of solar power, according to Xinhua.
Solar manufacturers have been battling to stay afloat this year as demand drops in the key European market. At the same time, Chinese manufacturers have been confronted with anti-dumping battles that will inflict extra costs on exports to the US and Europe.
An oversupply of panels, plummeting prices and enhanced trade barriers are not conducive to strong performance, which has led Beijing to find an alternative – a home grown solar boom.
The problem to the remedy is that most Chinese manufacturers are selling stock at incredibly slim margins, if they have any margin left at all. Selling more product for no gain (or a loss), won’t take the red off the balance sheet anytime soon – although it will at least lift revenues and potentially alleviate the crippling oversupply.
Crucially, it will keep more Chinese firms afloat, allowing the
country to maintain the leading position it has assumed in the past couple of years. And in the end, that’s what the Chinese government is eagerly chasing.
The importance of the news has not been lost on investors in beaten down solar manufacturers, with a universal surge seen in their stock prices overnight. Yingli climbed 18 per cent, Trina 10 per cent, JA Solar 19 per cent, Suntech 10 per cent and JinkoSolar 19 per cent. Not anywhere enough to cover losses this year, but a step in the right direction.
Xi Jinping is set to become the country’s new President, succeeding the current President Hu Jintao, and Li Keqiang will take over from Wen Jiabao as the country’s Premier. Li Keqiang’s appointment should be good news for China's photovoltaic industry.
According to Professor Hui Shen, Director of the Institute for Solar Energy Systems at Sun Yat-Sen University and one of the leading photovoltaic experts in Guangdong province, Li Keqiang’s appointment should be good news for the country’s photovoltaic industry, since Li as China’s Vice Premier has been a leading advocate of renewable energy adoption in China.
No doubt due to Li’s efforts, Premier Wen Jiabao recently pushed the country’s grid monopolies to move faster to integrate renewable energy sources like photovoltaics. And increasingly, the Chinese government is promoting distributed photovoltaics, such as the recent 500 MW per province program, which by itself could add 15 GW of distributed photovoltaics by the end of the current 12th Five Year Plan (2011 to 2015).
In his presentation, Shen lamented the fact that Guangdong had not done more to promote photovoltaics in recent years. For example, a plan to install 5 MW on the new Scientific Center in the province’s capital, Guangzhou was scrapped and the 240 KW put on the city’s new railway station was described as "kind of measly" by Shen.
And when the Asian Games were held in Guangdong recently, the organizers showed no interest in using solar energy. So there was clearly frustration in Shen’s depiction of the status quo, but hope that leaders like Li could push things forward and also challenge provincial and local officials to do more to support the photovoltaics industry.
As the recent central government initiatives regarding accelerated access to the grid and the promotion of distributed PV show, the policy and regulatory framework is in fact becoming increasingly favorable to photovoltaic installations in this country.
Guangchun Zhang, Senior Vice President of Suntech Power Holdings Co., Ltd has said that China's top economic planning body, the National Development and Reform Commission (NDRC), is about to announce additional policies to boost the domestic photovoltaics market further.
Zhang chairs SEMI’s China PV Standards Committee and more critically serves as a key intermediary between China’s photovoltaic industry, and the central government and key ministries like NDRC. He is pushing the government to adjust its photovoltaics subsidy system to take into account the country’s wide range of solar resources and provide additional support to distributed photovoltaics and self-consumption.
While many people regard the solar resources of Guangdong as inadequate, Shen set the record straight that Guangdong’s solar resources are actually better than Beijing’s, which has a lot of sunshine, but little rain to clear the air and clean the photovoltaic modules.
Luo Duo, Chief Engineer at China Singyes Solar Technologies Holdings Limited, a Guangdong solar developer, showed the money-saving potential of photovoltaics in a smart micro-grid project her company is developing in #$%$’ao island near Zhuhai. A tour of #$%$’ao is on the Forum’s program and #$%$’ao is now powered largely by renewable sources, including a 100 KW system on its tourism center and a 256.7 KW system on its cultural center.
Having shifted from 100% diesel to 70% renewables and 30% diesel, the island has reduced its electricity bill dramatically – from RMB 3.8/kWh to just RMB 1.9/kWh – and made this tourist attraction even more popular with visitors.
As if to demonstrate the hope and potential that exists in Guangdong, a tour of Lecong Steel World, a massive new steel manufacturing site and mixed development project in Shunde district, that is largely still on the drawing board, but promises to deliver 60 MW of roof-top PV to this new development.
According to the latest research, the Chinese photovoltaics industry is shifting to a more decentralized model, following a "sharp" increase in non-residential building-mount applications, and a rise in non-utility commercial projects. Furthermore, it is believed the market is becoming more open to overseas companies.
Self-sustained power generation is growing on the back of non-residential building-mount photovoltaic applications, which totaled over 400 at the end of last month, with 700 more such projects in the pipeline.
While China’s solar market has been dominated by the utility sector, planned non-utility commercial photovoltaic projects now comprise the lion’s share of projects, a further indication of the growing trend towards non-utility-driven PV adoption.
This trend is expected to help open the market – typically difficult to enter – to overseas companies. The growing share of non-utility commercial projects will provide new opportunities for a wider range of module, inverter, and other balance-of-systems component suppliers.
Access to the Chinese PV market by overseas systems integrators is now more viable, which is fortunate at a time when sales pipelines in major European PV markets are at risk from policy uncertainties. However, identifying the most suitable PV projects and partners, and understanding the mechanics of the different bidding processes within China will be key factors for all companies targeting these new opportunities.
Both the utility and corporate sectors will continue to lead China’s solar industry; however, the corporate segment is now forecast to exceed the utility segment in 2013.
With 58 percent of the market share, ground-mounted photovoltaic systems will remain the largest sector in the country in 2012, followed by large building-mount applications.