Welcome to Green Chip Review's Weekend Edition — our insights from the week in everything renewable and cleantech, as well as links to our most-read Green Chip Review and sister publication articles.
It was yet another good week for cleantech, with bullish news coming from both the financial and political realms.
Here's what went down. . .
On Tuesday, the President made the largest single Recovery Act announcement to date, dedicating $3.4 billion to further advancing smart grid development. The money — paid in grants of up to $200 million each — will go to pay for as many as 18 million smart meters across the country.
That announcement sent many smart grid stocks to one-day, double-digit gains. It also foreshadowed great earnings in the same sector. . .
Seemingly on cue, Enersys (NYSE: ENS), Itron (NASDAQ: ITRI), and American Superconductor (NASDAQ: AMSC) all released positive earnings reports this week. The latter climbed over 20% in one day!
(As an aside, I've closed one of those stocks for profit in the Alternative Energy Speculator, and the other two are still open.)
And the good news didn't stop there, as cleantech continued to prove it can combat recession, create jobs, and stoke portfolios. . .
German solar firm SMA Solar Technology announced it is opening a $22 million factory in Colorado. Fisker Automotive announced plans for spending $528 million to overhaul an automotive manufacturing plant it bought from the now-bankrupt GM as part of a stimulus-funded deal.
In fact, the results of cleantech funding have been so fruitful that Obama signed another spending bill into law this week — a bill that will push another $33.5 billion into everything from solar research to energy efficiency and flood control.
Just hours later, Obama's signing was followed by a Reuters report stating that solar executives from Suntech, Sharp, and BP are "bullish on 2010." According to the report, "Executives cited various forces that could drive growth in 2010, including U.S. stimulus funds for green projects, extended tax incentives and new financing."
Of course, we'll be ready to capitalize on that bullishness as it plays out.
In the meantime, you can catch up on the rest of the week's top-read stories from Green Chip and our sister publications below.
Enjoy your weekend,
What are Global Acres?: Global Acres & Ecological Footprints
Green Chip Contributing Editor Emily Rutan defines global acres for readers and discusses what our total world ecological footprint means for the planet's biocapacity.
Solar Rights: A Solar Bill of Rights
Green Chip's Jeff Siegel reports on the Solar Power International Conference this week, as the Solar Energy Industries Association details a "Solar Bill of Rights."
Smart Grid Investments: A Smart Grid Recap for Investors
Energy & Capital Editor Nick Hodge discusses smart grid investments by compiling his recent works on the subject.
Super Start-Ups: Get In Now on this $297-billion- a-year Market
Tech giants like Cisco Systems and Google will share billions of gov't stimulus dollars and make tens of billions in profit as the smart grid develops. . . but the real money is in start-up companies. There's still profit to be had in these super start-ups. . . if you act soon.
Solar Energy Stocks: The Truth about Solar
Editor Nick Hodge discusses solar energy stocks, including the rampant misinformation disseminated about the sector.
Veolia Environnement Stock: French Company's Water and Transit Projects Boost the Big Easy
Editor Sam Hopkins reports from New Orleans on the city's continuing Katrina recovery efforts and the French company being paid to finally get the job done.
23 Energy Companies You Should Know About: Share Prices to Pop from Gov't Slush-fund Boost
Knowing how much funding each company gets — and when — will be worth its weight in gold. We'll share with you this little-known list of companies in line to receive big dollars, and how you can profit from their government funding.
Smart Grid Development: $3.4 Billion for Smart Grid Development
Editor Jeff Siegel discusses the government's plans to award $3.4 billion in grants for smart grid development, and billions more in private investment dollars that will also go to the awarded companies.
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