SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Jul 25, 2012) - Clean energy stocks have struggled considerably this year as the emergence of natural gas as a cheaper alternative have led to growth concerns for the industry. The PowerShares Wilderhill Clean Energy Portfolio (PBW) is down more than 13 percent over the last month. Five Star Equities examines the outlook for companies in the Renewable Energy Industry and provides equity research on A123 Systems, Inc. (NASDAQ: AONE) and American Superconductor Corporation (NASDAQ: AMSC).
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According to recent data from the Energy Information Administration (EIA) approximately 13 percent of the electricity generated in the U.S. came from renewable energy sources. Macroeconomic uncertainties stemming from the Eurozone crisis and plummeting natural gas prices have combined to produce a challenging environment for the renewable energy industry in 2012. The current glut of natural gas and improvements in "fracking" techniques will see natural gas as a cheaper alternative for years to come.
"This is significant, as natural gas is expected to have a stronger future than ever, serving as a cleaner transition away from traditional fossil energy for power generation and transportation fuel," Dallas Kachan, industry analyst and managing partner of cleantech research and consulting firm Kachan & Co.
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A123 Systems shares surged last Friday after the company announced it will supply a 2MW grid energy storage system to Ray Power Systems Co. Ltd., a Chinese company focused on developing the frequency regulation market and relevant technologies. "This is an application A123 has been chasing for some time and it's good to see they're making progress," said Michael Lew, a senior analyst at Needham & Co.
American Superconductor's solutions are now powering gigawatts of renewable energy globally and enhancing the performance and reliability of power networks in more than a dozen countries. The company recently announced that it has been chosen as the high-temperature superconductor wire provider for Europe's POSE2IDON Project.
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