) along with its partner Salt River Project (:SRP) dedicated the
solar photovoltaic (PV) power plant at Arizona State University
(ASU) in Mesa, AZ.
CANADIAN SOLAR (CSIQ): Free Stock Analysis
RENESOLA LT-ADR (SOL): Free Stock Analysis
SUNPOWER CORP-A (SPWR): Free Stock Analysis
TOTAL FINA SA (TOT): Free Stock Analysis
To read this article on Zacks.com click here.
This 1 megawatt (MW) solar photovoltaic power plant is the first
to commercially utilize SunPower C7 Tracker technology that was
introduced in late 2011. This facility will provide sufficient
electricity for about 225 residential SRP customers. As per the
U.S. Environmental Protection Agency, the system will counteract
the production of 1,277 tons of carbon dioxide emissions per
SunPower performs engineering as well as construction works on
the plant, located in the southeast corner of the ASU Polytechnic
campus. The company is also responsible for operating and
maintaining the unit.
Under a power purchase agreement, SRP will purchase the full
production from the solar plant from SunPower. ASU in turn will
buy all the power from SRP for its Polytechnic campus under a
This solar PV tracking system, the C7 Tracker, is unique in the
sense that it magnifies the amount of light hitting SunPower's
Maxeon PV cells by seven times to realize a lower levelized cost
of electricity. The C7 Trackers use SunPower's silicon PV cells,
which are one of the most capable in the market at a 22.8%
SunPower Corporation is a vertically-integrated solar
manufacturer, with a presence along the entire solar value chain
from cells through installation. The company is increasing its
global market presence within the residential and commercial
markets by expanding its network of dealers.
However, over the near term, we are apprehensive about the higher
cost structure of the company compared to its peers, the glut of
solar panels in the market, lower Average Selling Price (ASPs),
subsidy roll-back risk in Europe, rising competition, financial
stability of its customers and foreign exchange risk.
SunPower − largely owned by French oil and gas major
) − carries a Zacks Rank #3 (Hold). Other stocks in the solar
industry that are currently performing well and have a bright
Canadian Solar Inc.
), both with a Zacks Rank #2 (Buy).