Tag: "midamerican energy"

01/05/13

  07:50:00 am, by Jim Jenal - Founder & CEO   , 169 words  
Categories: All About Solar Power, Solar Economics, Solar News, SCE

Buffett Bets Big - on Solar!

A company controlled by Warren Buffett’s Berkshire Hathaway - MidAmerican Energy Holdings - has announced that it will pay SunPower between $2.0 and $2.5 billion for the 579 MW Antelope Valley solar projects.

SunPower stock price chartShares of publicly-traded SunPower (SPWR) jumped on the news and closed the week at $8.73, up 2.6 times over its 52-week low.

MidAmerican had previously purchased a 49% stake in a 290 MW solar project in Arizona and the FirstSolar Topaz Solar Farm (590 MW) in California.  The Antelope Valley project will sell power to SCE under two long-term contracts.

The announcement was certainly good news for SunPower which, like other manufacturers of solar power modules, has struggled in the last year as modules prices have continued to fall.

Of course, falling module prices - while extremely painful for module makers - is good news for installers and their clients.  That said, we do not anticipate significant drops in system prices during 2013 and with rebates continuing to decline, waiting to buy is not likely to be a rewarding strategy.

Or at least so Mr. Buffett seems to think.

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Jim Jenal is the Founder & CEO of Run on Sun, Pasadena's premier installer and integrator of top-of-the-line solar power installations.
Run on Sun also offers solar consulting services, working with consumers, utilities, and municipalities to help them make solar power affordable and reliable.

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