PHOENIX--(BUSINESS WIRE)--Evolution Solar Corporation (PinkSheets:EVSO). China’s new $2.70 per watt government solar incentive has delivered a strong stimulus to solar stocks. China’s stimulus program represents a 50% government participation in the cost of many solar projects. Clearly this changes the economics for solar companies with a footprint in China.
This strong investment in solar power technology signals that China intends to stake out a position as the world leader in the manufacture, sale and use of solar energy. EVSO is currently deepening its relationships in China in order to access this growing market for solar resources and products needed around the world. China’s continued growth will make it an even more important source of new technology as the world’s economies emerge from the current recession.
“This news validates our decision to establish an office in China from which we will reach out to projects in other parts of the world,” stated Robert Kaapke, CEO of Evolution Solar Corp. “China is friendly to the solar industry and provides fertile ground on which to grow our product offerings.”
Yingli Green Energy Holdings (NYSE: YGE) was up 43% on the news. ReneSola (NYSE: SOL) was up 31% and Suntech Power Holdings (NYSE: STP) was up 50%.
Monday, July 27, 2009
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