First Solar (FSLR) CEO Hughes Sees Bright Future for Segment
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First Solar (Nasdaq: FSLR) is active on Tuesday's trading session following a discussion between the company's CEO, James Hughes, and venerable stock guru Jim Cramer.
Monday night, Hughes told Cramer that it would take some time for solar companies to rebuild investor credibility given continued negativity surrounding the segment. Hughes believes that First Solar is doing just that with each passing quarter.
Huges also noted that First Solar's panel efficiency is at 59 cents per Watt, making it competitive with fossil fuels in some parts of the world. While the power is still a little pricey for many, First Solar's plan calls for that cost to come down to 40 cents per Watt over the next few years. He thinks about 5 percent of the world's energy could come from solar in the next 10 years.
Finally, Hughes noted that, while companies like SolarCity (Nasdaq: SCTY) are focused mainly on residential rooftop installations, First Solar's main area of expertise is utility-scale solar plants.
Cramer agreed and thinks the solar sector might be in rebound mode.
Shares of First Solar are down about 0.3 percent.
Monday night, Hughes told Cramer that it would take some time for solar companies to rebuild investor credibility given continued negativity surrounding the segment. Hughes believes that First Solar is doing just that with each passing quarter.
Huges also noted that First Solar's panel efficiency is at 59 cents per Watt, making it competitive with fossil fuels in some parts of the world. While the power is still a little pricey for many, First Solar's plan calls for that cost to come down to 40 cents per Watt over the next few years. He thinks about 5 percent of the world's energy could come from solar in the next 10 years.
Finally, Hughes noted that, while companies like SolarCity (Nasdaq: SCTY) are focused mainly on residential rooftop installations, First Solar's main area of expertise is utility-scale solar plants.
Cramer agreed and thinks the solar sector might be in rebound mode.
Shares of First Solar are down about 0.3 percent.
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