Goldman starts U.S. solar sector with neutral
Goldman Sachs expects present factors like the euro volatility, declining subsidies in existing markets in Europe and financing uncertainty to resolve into a positive trend for the solar industry.
Analyst Mark Wienkes started First Solar Inc with a "buy" rating and named the stock his top pick, mainly on its low cost structure, while MEMC Electronic Materials Inc was initiated with a "sell" on its sub-peer margin recovery.
"In an increasingly competitive global market, solar panel manufacturers will need to lower costs by investing in R&D and capacity growth," Wienkes wrote in a note to clients.
Shares of solar power companies have been hit hard this year by a weak euro and concerns about Europe's stability, but demand has surged ahead of scheduled subsidy cuts in top markets of Europe.
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B.C. politicians must focus more on phasing out fossil fuels, report says
VANCOUVER - Politicians in British Columbia aren't focused enough on phasing out fossil fuel industries, a new report says.
The report, authored by the left-leaning Canadian Centre for Policy Alternatives, says the province must move away from fossil fuel industries by mid-century in order to meet its climate targets, but adds that the B.C. government is ill prepared to transition to a green economy.
"We are totally moving in the wrong direction," said economist Marc Lee, one of the authors of the report, on The Early Edition Wednesday.
He said most of the emphasis of B.C. government policy has been on slowing reductions…
