SOLAR

Maybe the future of climate friendly energy won't have as much to do with wind and solar energy as current booms in those technologies suggest.

First Solar Inc on Wednesday said it expected to cut manufacturing costs by a third or more over the next five years, mainly by making its solar panels more efficient at transforming sunlight into electricity.

A 400-billion euro ($554 billion) project linking solar power produced in the Sahara to energy users in Europe and North Africa is a win-win for both continents and could also promote integration around the Mediterranean, a German minister said.

Beijing's bid to boost the solar energy sector could draw more than $10 billion in private funding for projects and put China on track to become a leading market for solar equipment in the next three years.

Kyocera Corp, fighting to hold its own in a competitive solar panel market, is banking on a revival of Japanese subsidies to bolster sales, and said orders for its panels in Japan have jumped this year.

A program to place 500 megawatts of solar photovoltaic panels on commercial rooftops in the Southern California Edison territory was approved unanimously by the California Public Utilities Commission on Thursday.

Southern California Edison, a utility arm of Edison International, said on Wednesday it had signed contracts to buy up to 960 megawatts of power from solar thermal and wind power suppliers.

Flat-screen maker LG Display Co Ltd said on Tuesday it would invest 50 billion won ($40 million) in a pilot line and testing facility for solar power cells, aiming for commercial production in 2012.

A consortium of around 20 companies, including Munich Re, Siemens, RWE and Deutsche Bank, plans to build a 400 billion euro ($555.3 billion) solar power project in Africa, a Munich Re executive told a German newspaper on Tuesday.

Beijing is expected to unveil subsidized prices for solar power production as soon as the second half of the year, the South China Morning Post reported on Monday, citing an industry official.

NRG Energy and eSolar will build a 92-megawatt solar thermal power plant in New Mexico, part of an effort to place 500 MW of solar power in California and the U.S. Southwest, the companies announced on Thursday.

General Electric, 3M and DuPont and twenty one firms more were given the green light by the U.S. government for up to $22 million worth in investments for projects with the potential to impact the photovoltaic (PV) solar industry within 2 to 6 years, the Department of Energy announced Thursday.

Solar stocks rallied on Wednesday as investors bet that increased Chinese interest in solar power, higher oil prices and signs of improvement in lending and financing will help spur demand for the clean energy source.

U.S. demand for residential solar power installations is surging despite an economic recession, thanks to government financial incentives, some easing in credit availability, and increasing public recognition of its environmental benefits, industry executives said on Tuesday.

Solar firm SunPower Corp. said Monday it signed a deal with Jabil Circuit to manufacture solar panels in Mexico for the North American market.

Utility firm Pacific Gas and Electric Company announced Friday it made a deal for 230 megawatts of solar photovoltaic power with a subsidiary of NextLight Renewable Power.

Xcel Energy Inc would offer incentives for Minnesota customers who take steps to conserve energy, which could include installation of solar panels on homes and businesses, under a $280 million plan filed this week with regulators, the state's biggest power company said on Thursday.

PV Crystalox Solar expects 2010 will prove better for the solar industry as new stimulus packages take effect and as weak demand and inventory overhang that has hit pricing improves in the second half of this year.

First Solar Inc shares rose more than three percent on Friday after it announced the signing of a long term supply deal for rooftop and free fields solar projects with Pfalzsozar GMbH, a unit of German Pfalzwerke AG.

Ascent Solar Technologies Inc said Wednesday it has agreed to provide its thin-film photovoltaic modules for an energy efficient unmanned aerial vehicle being developed by Bye Aerospace.

BP Solar will join forces with SolarEdge to test new products designed to help solar modules operate more efficiently in harvesting the sun's rays, the companies said on Wednesday.