FSLR CC notes:
2010 balance of system cost improved almost 30% compared to 2008, which is well ahead of our 2014 balance of systems cost reduction roadmap. This strong performance demonstrates the improvements our EPC team has made in reducing cycle time and cost per watt through engineering design improvements and economies of scale.
2H11 risk of accelerating Europe FIT digression and market size cap
expect roughly 0.5% per year solar efficiency improvement (So, 12.1% by end-2011, 12.6% end-2012)
we still have the objective to be between $0.52 and $0.60 (manufacturing cost per watt) by 2014
the U.S. is the fastest-growing, highest volume market for the next couple of years
I will not necessarily describe ourselves as a (system) developer in China...in China, in order to apply and get a pre-feasibility study and feasibility study approved which is typically what we think of as project development, you have to be a state-owned enterprise...
year end 2011 fully diluted share count to be in the range of 87 to 88 million shares
seekingalpha.com
phx.corporate-ir.net
my comment: I really can't find anything to complain about (and I avidly look for them). Cutting BOS costs by 30% in 2 years is excellent. They continue to lead the industry in balance sheet, manufacturing costs, geographical diversification, vertical integration. Share count is stable, in marked contrast to the Chinese solars. They are 100% certain they will sell all 2011 production, although they are less certain about pricing. Doubling capacity by end-2012, and funding it out of cash flow. Not a level playing field in China. |
