SOURCE: Paragon Financial Limited

Paragon Financial Limited

April 03, 2012 08:20 ET

Solar Market Expected to Continue Rapid Growth in 2012

The Paragon Report Provides Stock Research on First Solar, Inc. and Trina Solar Ltd.

NEW YORK, NY--(Marketwire - Apr 3, 2012) - 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 First Solar, Inc. (NASDAQ: FSLR) and Trina Solar Ltd. (NYSE: TSL).

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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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First Solar, Inc. announced that Enbridge has acquired a 100% interest in the 50-megawatt (MW) Silver State North photovoltaic (PV) project that First Solar has developed and constructed in Clark County, Nevada, near the community of Primm. Terms of the transaction were not disclosed. Located 40 miles south of Las Vegas, Nevada, Silver State North was constructed under a fixed-price engineering, procurement and construction (EPC) agreement with First Solar, and is expected to begin commercial operation by May 2012.

Trina Solar Limited's Trina Solar (Germany) GmbH announced that it has signed a sales agreement with Mohring Energie GmbH (Mohring), a well-established German-based project developer and engineering, procurement and construction services company. Under terms of the agreement, Trina Solar is expected to deliver to Mohring 130 MW of the Company's solar modules in the second and third quarter of 2011 at agreed prices in US dollars. Initial shipments have already commenced.

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