24 Aug '11, 3pm

Rough Patch For Owners of Solar Stocks: Filed under: Energy News

This sector defines investment risk. Not only has Evergreen Solar, Inc. [ESLR ] filed for bankruptcy, investors in another high visibility solar developer have been saddled with a 72% loss over the last week. In a massive shift that has to shake confidence in the company, Germany’s Solar Millennium AG [S2M.DE] announced on Thursday said it will convert the first 500 megawatts of its 1,000 MW Blythe solar power plant in the Mojave desert to PV. It will decide what technology to use for the second half of the project at a later date. Nor has it revealed the charge it will need to take due to the shift. It’s not just these companies. The two solar sector specific ETFs [KWT and TAN ] have lost 36.8% and 33.2% respectively this year. This is about double the loss broad-based market indices have suffered and lead the losses across all the clean energy ETFs and mutual funds. In f...

Full article: http://www.altenergystocks.com/archives/2011/08/rough_pat...

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