Cleantech "Power 10" Ranking (Vol. I)
I spend most of my day meeting and talking to companies in the
cleantech sector. And those of you who know me know I have opinions on
who is doing it right, and who is doing it wrong. So I thought it was
about time to initiate the Cleantech Blog Power 10 Ranking of cleantech
companies doing it right. Eligibility for inclusion in the ranking
requires meeting a 6 point test. Suggestions for inclusions in future
volumes are welcome. The 6 point test:
1. The company is energy or environmental technology related
2. I like their products
3. The market needs them
4. The company is smart about building their business
5. I’d like to own the company if I could (for the right price, of course!)
6. It is not already one of mine (my apologies to my friends Zenergy Power)
I have included cleantech companies big and small. Volume I surprisingly ended up with a lot more solar companies than I would have guessed, and no biofuels. Perhaps I really am a closet solar fanatic.
- Sharp Electronics (SHCAY.PK) – In solar, still the biggest, and still growing. Enough said.
- Det Norske Veritas – DNV is a massive 150 year old risk management firm. Their auditors underpin roughly half of the carbon markets. In carbon, audit and verification is everything. I could not leave them off.
- IBM (IBM) – What IBM is doing in smart grid is very exciting. They are part of a large proportion of the smart grid implementations that are in process, and a huge proponent of open standards. Smart grid is to electricity what fiber is to telecom. It underpins everything.
- Applied Materials (AMAT) – The future of photovoltaics lies in scaling thin film manufacturing process. Who better to do this than the dean of semiconductor capital equipment? I broke the story of Applied’s entry to solar in the blogosphere in 2006, and if anything, underestimated how hard they were pushing. The whisper mill has been whirring that the installations of their plants are not on track. Not only do I have faith they will get there, I think it is critical to the industry that they do.
- Fuel Tech (FTEK) – I wrote about them in 2007. The CEO John Norris is a long time friend and an excellent operator. Cleaning up coal is a huge business that needs to be done, and they do it well.
- Fat Spaniel – Distributed power, solar included, is a ticking time bomb without independent monitoring. Fat Spaniel does it the best.
- Smart Fuel Cells [XETRA:F3C.DE] – I wrote about them recently. I helped create a fuel cell business in 2002. This is the first fuel cell company in 5 years that has intrigued me. They actually ship product with solid gross margins. That is a start.
- First Solar (FSLR) – Lowest cost producer in the photovoltaic business. Guaranteed to make the list until dethroned.
- Global Solar – I have been following this company for a long time. CIGS is very hard and has broken (or is currently breaking) hundreds of millions or billions of dollars worth of wannabes. This management team, led by Mike Gering, respects how hard it is. And since they have actually been running a pilot plant shipping product for 3 years, so we need to take note when they say they have cracked the manufacturing scale nut.
- Schott – Long a major player in crystalline silicon photovoltaics, amorphous silicon photovoltaics and concentrated solar thermal, where they are one of the top manufacturers of solar thermal receivers. That balance is unique, and exciting.
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This article has 30 comments:
seekingalpha.com/artic...
And recent developments that are extremely bullish to PGM metals:
seekingalpha.com/artic...
As for First Solar, it is crystal clear to me they are doomed due to a global shortage of tellurium:
seekingalpha.com/artic...
Suzlon has 52% marketshare in India and poised to grow WW. Wind is also better than solar (no environmental issue of waste by products of PV, erratic prices and supply of PV, maturity of thin film)
regards
Watcher
has an article about Suzlon. it also has a chart of competition. unfortunately, no US players on the list except GE. If you can, you could buy European stocks listed.
Det Norske Veritas
Fat Spaniel
Global Solar
Schott
are not listed on any stock exchange.
(1) I guarantee you that wind towers and turbines will be more expensive to build in 5 years from now (and even 1 year from now, probably, unless commodities really crash). On the other hand, I also guarantee that solar will be HALF its present cost in 5 years.
(2) Wind requires (in most cases) significant transmission and distribution facilities (NIMBY as to big turbines where people can see them), whereas solar can be invisibly installed in a distributed fashion on flattish rooftops on commercial buildings (as Southern California Edison announced on March 27). This will get solar to parity with wind probably within two years.
(3) In many places, solar helps balance the load because when the sun is hottest and causing the most air-conditioning load--it is also generating the most power. In most places, this is not true for wind.
In summary, solar is better than wind in every way but one--cost.
But the cost differences will evaporate by 2010.
Of course, certain places have a great wind resource and a poor solar one. In those places, wind will continue to be cheaper than solar for some time to come, and there is such great need for renewably-generated electricity that both solar and wind will grow tremendously in the next decade.
But in most places, I predict that within 2-3 years, given increasing cost of wind and decreasing cost of solar, solar will offer the price advantage.
Jack Yetiv
"How about doing your homework next time so you don’t look like an idiot?"
I never rank my personal tastes in products as a top filter, though I throw it in as a variable depending on the stock in question.
I think in the end solar will be better in some places, and for some reasons, but that wind will also be better at other certain locations.
Wind also improves in effeciancy and costs over years like solar. From my (european sources) wind energy is to reach grid parity in 2013 and solar in 2015.
But most of the developed world is in the north where the sun shines somewhat less and wind is somewhat more present.
I am interrested in Jack yetivs reason to guarantee why solar will be cheaper i 5 years than wind energy.
I am in agreement with solar watchers sting towards the poster claiming sharp as the largest solar company. Q-cells is bigger in solar cells ad even the isn't the largest solar company, though as european i have a fair share in Q-cells and i easily find it the most interresting company in the whol solar space, and it really surprizes me that so few is said about it, hence why i symphatize with solars watchers reaction, its like European renewable company's are not to be taled about here, anti-european bias?
Besides, the largest solar company is Renewable energy corp (REC) a Norwegian company.
@ Pelusin, here is a (incomplete) list of wind energy company's:
Wind turbine manufacturers (pure play) (often turbine manufacturers also opperate windfarms)
- Vestas wind systems VWS.CO (copenhagen listing)
- Gamesa tecnologica GAM.MC (Spain listing)
- Nordex Ag NDXGK.DE (German listing)
- Repower RPWGN.DE (German listing)
- Suzlon energy SUZL.NS (India listing)
- Clipper windpower CWP.L (Londen)
- Windflow Technology Ltd WTL.NZ (New Zeeland)
- AAER INC AAE.V (canada)
non pure play turbine manufacturers
- General electric GE (USA)
- Trinity TRN (USA)
- Siemens SI (GERMANY)
Wind farmers (pureplay)
- Greentech Energy Systems GES.CO (denmark)
- Air energy AIR.BR (belgian, taken over)
- Indowind Energy Limited INWI.NS (india)
- Japan Wind Development Co Ltd 2766.T
- Western Wind Energy Corp WND.V (USA)
- EDF Energies Nouvelles Group EEN.PA
- Nacel Energy Corp NCEN.OB (USA)
Others/mixed
Tower Tech Holdings Inc TWRT.OB
Plambeck Neue Energien AG PNEGnk.DE
Iberdrola SA IBR.MC
Hansen transmissions, gearboxes HSNT.L
Renewable Energy Generation Ltd RERWE.L
Cleanfield Alternative Energy AIR.V
Americas Wind Energy AWNE.OB
Composite Technology Corp CPTC.OB
FPL Group Inc FPL
GreenHunter Energy Inc GRH
Novera Energy Ltd NOEN.L
Greenwind Power Corp GWDP.PK
Mass Megawatts Wind Power Inc MMGW.OB
NaiKun Wind Energy Group Inc NKW.V
Sea Breeze Power Corp SBX.V
I would be very quick in researching the american pure play wind energy company's, some of them have made stellar gains the last months. Expect wind energy to be the next hot thing and solar falling a bit to the background, hey Cramer just got started covering wind energy.
Advice: Look elsewhere until FSLR's p/e gets in the realm of relative realism.
i will buy some of them
looking atcptc.ob because i see there more volume
what do you think
Watcher
sion
I am more in favor of geothermal than wind as an investment, because I think it is easier and cheaper to build while providing base load (24/7), for this I might suggest RZ as a good investment.
Ultimately, I think central solar (non-PV) in the SW will be big but i don't know of any public companies in this and it is just getting started with new designs.
The company was originally listed on the OTC.BB during its development phase and now has moved onto the Nasdaq as its commercialization phase has commenced. The float is minuscule, less than 2 million shares, with only ~ 8 million outstanding shares in total!!
I mainly invest in Europe, home turf. I have positions in quite a few turbine manufacturers, i order of size f position now, it's Repower (5MW turbine's), Vestas (up to 3.5MW turbine's, probably developing better ones), Gamesa (3MW turbine's but developing a 4.5MW to 5MW turbine) and nordex AG. I have a position in Greentech energy systems and EDF energys novelle as windfarmers, used to own Air energy as windfarmer before it got taken over.
I have few american stocks in general. I do have a fair position in nacel energy (NCEN.ob) a wind farmer with a fairly ambitious growth plan. Watching AAER.inc as it has been flying up lately. Also hanson transmissions, though i would like to buy them cheaper. Iberdrola also on my watchlist.
And i got good hopes for all these stocks. Been in most turbine manufacturers since 2006 so i got ample green there. hey are good long term investments if one has patience.
Nice rundown of all the wind power stocks available, but you left out Kaydon, KDN! A large part of their business comes from selling large bearings that go into wind turbines. Plus they trade in the US, for all the not-so-sophisticated investors like my self!
I am still new to stock buying/research...so I am wondering abt a couple of solar/wind companies. Can someone tell me a little about what they think?
ESLR
VSE
AKNS
WWAT.OB
Thanks! Fish
"Nanosolar’s founder and chief executive, Martin Roscheisen, claims to be the first solar panel manufacturer to be able to profitably sell solar panels for less than $1 a watt. That is the price at which solar energy becomes less expensive than coal.
With a $1-per-watt panel,” he said, “it is possible to build $2-per-watt systems.
According to the Energy Department, building a new coal plant costs about $2.1 a watt, plus the cost of fuel and emissions, he said."
from www.grinzo.com/energy/.../
Wind verses solar?
"The same acre can produce 10 times as much energy from wind as it can from corn ethanol, 180,000 miles per acre per year. But both corn ethanol and wind power pale in comparison with solar photovoltaic, which can produce more than 2 million miles worth of transport per acre per year." www.ecogeek.org/conten.../
They both have their place. Since wind is generally stronger at night, solar and wind go hand in hand.
Solar thermal plants can store heat to generate electricity at night, thus eliminating much or their intermittency.
And intermittency is an overblown argument against both wind and solar. It doesn't seem to be a problem in these countries.
"There are areas in Denmark and Germany who use more than 40 percent of their electricity from wind. From what I have read, they are less concerned about the intermittency than we are in the United States even though we aren't at 1 pecent yet. Why? Because we are told by the fossil fuel guys, hey, can't use wind, can't use solar, what about the intermittency. If wind gets up to 40 percent of the electricity we use and solar gets up to 40 of the electricity we use, the other percents of electricity we need can be made up from the fossil fuel plants that are still there. If they are run less at full power, they can last a long time. That can be your electricity `battery.'"
User 126360 They all have potential. FSLR is a year or so away from full production, but their stock is low right now.
I've been looking to do a little bottom fishing. The chart is showing bearish signs still, so looking for a bottom.
In fuel cells, I think Fuel Cell Technology is interesting. Utility scale fuel cells that run on natural gas or methane. They just got a fairly big order from a Korean company.
"The greatest obstacle to implementing a renewable U.S. energy system is not technology or money, however. It is the lack of public awareness that solar power is a practical alternative—and one that can fuel transportation as well. Forward-looking thinkers should try to inspire U.S. citizens, and their political and scientific leaders, about solar power’s incredible potential. Once Americans realize that potential, we believe the desire for energy self-sufficiency and the need to reduce carbon dioxide emissions will prompt them to adopt a national solar plan"
from Scientific American Article
Scientific American A Solar Grand Plan
www.sciam.com/article....
Solar thermal, which I would emphasize more than the concentrating PV that the above proposal does, has less environmental impact than PV, is lower tech and can store heat. PV is better for distributed energy, and over a larger geographical area. Solar thermal really needs to be in very sunny climes and works best in fairly large utility scale projects.
like these
"Abengoa Solar's 280 MW parabolic trough project with 6-hour molten salt storage for the investor-owned utility Arizona Public Service will be designed to supply the late afternoon and evening electric load of the Arizona summer."
"In recent months, PG&E has signed deals for more than a gigawatt of electricity — enough to light more than 750,000 homes — with solar power plant developers."
"The solar thermal industry is in its infancy but utilities like PG&E (PCG), Southern California Edison (EIX) and San Diego Gas & Electric (SRE) have signed several contracts for solar power plants and negotiations for gigawatts more of solar electricity are ongoing."
Green Wombat has several articles about solar thermal plants in California and Arizona. California has 9 small pilot plants that were built in the 80s and 90s. They produce 355 megawatts. Two larger plants have been approved for the Mojave Desert at 355 and 500 megawatts. Another is to be built near San Luis Obispo at 175 megawatts.
"Hamilton Sundstrand, a subsidiary of United Technologies Corp. [NYSE: UTX], and US Renewables Group have formed a new entity, SolarReserve, to commercialize the concentrated solar power tower technology and corresponding molten salt storage system developed by Rocketdyne. This renewable technology will enable utility-scale solar power generation. It is designed to meet a utility's needs with a single installation capable of producing up to 500 MW of peak power."
From CNET:
Read more at Green Wombat
blogs.business2.com/gr.../
Oh and i don't think US investors are unsophisticated.
A company I've followed for a long time and own is Energy Conversion Devices (ENER) that makes amorphous Si solar panels. They also make batteries for hybrid cars and have some interesting developments in hydrogen technology. They also have a phase change memory patent that has attracted some developmental interest from major semiconductor companies. It could become a major addition to revenues if it works out.
Neighborhoods or several blocks of people could afford it wind or solar, where both solar and wind are to expensive for many to purchase for a single home.
llo
On May 05 10:49 AM Piggybank wrote:
> @Pelusin:
>
> I mainly invest in Europe, home turf. I have positions in quite a
> few turbine manufacturers, i order of size f position now, it's Repower
> (5MW turbine's), Vestas (up to 3.5MW turbine's, probably developing
> better ones), Gamesa (3MW turbine's but developing a 4.5MW to 5MW
> turbine) and nordex AG. I have a position in Greentech energy systems
> and EDF energys novelle as windfarmers, used to own Air energy as
> windfarmer before it got taken over.
>
> I have few american stocks in general. I do have a fair position
> in nacel energy (NCEN.ob) a wind farmer with a fairly ambitious growth
> plan. Watching AAER.inc as it has been flying up lately. Also hanson
> transmissions, though i would like to buy them cheaper. Iberdrola
> also on my watchlist.
>
> And i got good hopes for all these stocks. Been in most turbine manufacturers
> since 2006 so i got ample green there. hey are good long term investments
> if one has patience.