NEW YORK, NY--(Marketwire -04/03/12)- The solar market in the United States doubled in 2011, with an approximate of 1.9 GW of new capacity installed across the nation. Decline in equipment costs, along with favorable incentives at the federal and state levels contributed to the market growth, which is expected to continue in 2012. The Paragon Report examines the outlook for companies in the Solar Industry and provides equity research on Suntech Power Holdings Co., Ltd. (NYSE: STP - News) and LDK Solar Co., Ltd. (NYSE: LDK - News)
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"The North American solar market is steadily gaining traction, thanks to a combination of maturing technologies, declining costs and burgeoning regional incentives. California remains at the forefront of the U.S. market, standing as a prime example of the positive impact to be had through investment in renewable energy," said Daniela Schreiber, Executive Vice President of EuPD Research USA. "We anticipate approximately 1,020 MW in new installed capacity during 2012, and as many as 8,462 jobs created across the supply chain."
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Suntech Power Holdings Co posted a quarterly loss and forecast a weak first quarter, a day after rival Canadian Solar issued a similar warning, indicating a recovery is still not in sight for the struggling solar industry. The company's shares were down 6 percent at $2.75 in premarket trade on Thursday. They closed at $2.93 on Wednesday on the New York Stock Exchange
LDK Solar Co Ltd revised announced that for the fourth quarter of 2012, LDK Solar revised its guidance for revenue to be in the range of $440 million to $450 million. For fiscal 2012, LDK Solar estimates its revenue in the range of $2.0 billion to $2.7 billion. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.9 billion for fiscal 2012.
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