Solar investors suffer
Share prices in the cleantech sector have suffered in line with global stockmarkets. The solar sector has been especially hard hit, with the collapse of privately owned Solyndra in the US hitting sentiment in the sector.
Solyndra was a unique case, with a technology which had proven unviable in the context of falling prices for traditional PV due to massive capacity increases in China. The publicity surrounding Solyndra in the US has focused attention on the fact that costs are falling sharply in the sector, with implications for any manufacturer based outside of China.
Notable Share Price Declines
| Company | Share Price | Currency | % Chg year to date |
| Solar Millennium | 2.089 | EUR | -89.6 |
| IdaTech | 0.07 | EUR | -89.6 |
| American Superconductor | 4.493 | US$ | -84.3 |
| PV Crystalox | 8.19 | £ | -83.7 |
| Ceres Power | 12.125 | £ | -83.2 |
| ACTA | 10.87 | £ | -81.2 |
| Phoenix Group Holdings | 5.1 | EUR | -78 |
| Canadian Solar | 3.03 | US$ | -75.5 |
| ReneSola | 2.15 | US$ | -75.4 |
| REC | 4.96 | NOK | -72.1 |
| A123Systems | 3.161 | US$ | -66.9 |
| First Solar | 45.2399 | US$ | -65.2 |
| Zenergy Power | 9.425 | £ | -62.7 |
| Nanoco Group | 43.5 | £ | -57.8 |
| Cree | 29.03 | US$ | -55.9 |
| Veolia Environnement | 9.115 | EUR | -55.9 |
| Q-Cells | 1.11 | EUR | -55.8 |
| Vestas Wind Systems | 79.75 | DKK | -54.7 |
| Centrotherm Photovoltaic | 11.95 | EUR | -54.2 |
| BYD Company Limited | 18.78 | HK$ | -54 |
| Codexis | 5.01 | US$ | -52.7 |
| Falck Renewables | 0.797 | EUR | -52 |
| AFC Energy | 29 | £ | -47.3 |
| OPT | 3.26 | US$ | -43 |
| Gamesa | 3.354 | EUR | -41.3 |
| Ormat | 18.68 | US$ | -36.5 |
| Helius Energy | 14.5 | EUR | -36.3 |
| Suzlon | 35.7 | INR | -34.7 |
| Plant Health Care | 43 | £ | -34.4 |
| PetroAlgae | 7.25 | US$ | -34.1 |
| SMA Solar Technology | 44.64 | EUR | -33 |
| Suez Environnement | 10.14 | EUR | -31.4 |
| Oxford Catalysts | 50.5 | £ | -30.3 |
| Ceramic Fuel Cells | 7.625 | £ | -27.1 |
| Impax Environmental | 94.6 | £ | -26.5 |
| Ilika plc | 44 | £ | -26.1 |
The share prices included in these tables are a sample of notable declines (above) and - rare - rises (below). The sample is based on the universe of stocks we have written about in the past in this newsletter and should not be regarded as representative of the sector globally (we have a particular bias towards the AIM market, for example). We rarely include Chinese listed stocks - but it is notable that one which we have written about, electric vehicle manufacturer, BYD, features amongst the largest fallers. However, Tesla Motors has bucked the trend, managing to record a 15% rise so far this year. Water sector stocks such as Hydrodec, Watermark and Amiad have managed to outperform. Otherwise, bid activity is a key reason for strong performance (see comment on GTL and Hansen Transmissions elsewhere in this issue).
Notable Share Price Rises Notable Share Price Declines
| Company | Share Price | Currency | % Chg year to date |
| Drax | 554 | £ | 61.8 |
| Dialight plc | 776 | £ | 52.8 |
| GTL Resources | 100.25 | £ | 35.5 |
| Indian Energy | 24.5 | £ | 19.5 |
| Tesla Motors | 30.77 | US$ | 15.5 |
| Hydrodec | 10 | £ | 14.3 |
| Watermark | 0.32 | £ | 14.3 |
| Hansen Transmissions | 66.25 | £ | 13.2 |
| Novozymes | 153.65 | US$ | 10.8 |
| Amiad Water Systems | 197.5 | £ | 4.2 |
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