NEW YORK, NY -- (Marketwire) -- 11/30/12 -- Solar stocks received a boost earlier this week after manufacturers -- JA Solar and Yingli Energy -- in their recent quarterly reports showed Chinese demand for solar products is on the rise. The Market Vectors Solar Energy ETF (KWT) has risen nearly 15 percent in the past week. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on JA Solar Holdings Co., Ltd. (NASDAQ: JASO) and Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE).
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Solar companies have struggled in 2012 as poor economic conditions and increased competition have caused demand for solar cells to fall. Chinese manufacturers have been hit the hardest as complaints from U.S. companies have led to "anti-dumping" tariffs as high as 250 percent on Chinese solar products.
While markets in the U.S. and Europe have slowed, demand for solar products in China remains strong. Despite posting quarterly losses, JA Solar and Yingli Energy shares surged as revenues within China increased. JA Solar reported shipments within China more than doubled quarter-over-quarter, while Yingli Energy reported Chinese sales rose 14 percent sequentially and 28 percent year-over-year. Both companies have plans to expand into Southeast Asian markets in the fourth quarter.
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JA Solar is one of the world's largest producers of solar cells. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The company reported shipments of 418 MW, in the third quarter, which was above the company's guidance of 350 MW to 370 MW. Shares of JA Solar have rallied nearly 20 percent in the past week.
Yingli Green Energy is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. The company recently announced that it has been selected to supply 200 MW of utility-scale solar PV modules for the Centinela Solar Energy Facility Project in California. The contract is the largest project supply agreement in the company's history.
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