BCON - Sector: Utilities --- Industry: Electric Utilities

[Stocky2000]

2 year Chart what a beauty 

[Stocky2000]

Los Angeles, California [RenewableEnergyAccess.com] What could well be the most significant U.S. solar news for all of 2006 is likely to happen this week in California as state regulators are expected to pass the largest solar energy policy package ever seen in this country.

[Livana]

Ket - Most significant news: bad or good??
And "this week" leave only tomorrow, Friday, out... they should hurry a bit 

[Stocky2000]

Livana i hope we get news...

California Solar Initiative Expected to Pass
by Jesse Broehl, Editor, RenewableEnergyAccess.com

January 10, 2006

Los Angeles, California [RenewableEnergyAccess.com] What could well be the most significant U.S. solar news for all of 2006 is likely to happen this week in California as state regulators are expected to pass the largest solar energy policy package ever seen in this country.

In addition to displaying the M5 and highlighting its features and enhancements, Beacon will also demonstrate its new Smart Power Monitor software. Smart Power Monitor is a PC-based software solution that monitors, analyzes and reports the performance of an M5-based solar power system. Users can observe and record key system performance parameters, including solar power output (real-time and accumulated), power exported to the grid (for net metering applications), and battery charging and discharging functions.


On Thursday the California Public Utilities Commission (PUC) is widely expected to vote to approve the California Solar Initiative (CSI), which will secure USD $3.2 billion for solar energy rebates in the state for the next 11 years.

Beacon Power's Smart Power M5 is a high performance 5-kilowatt inverter for grid-connected solar power applications. It incorporates a range of components in one compact, integrated system, including inverter, charge controller with maximum power point tracking, switchgear, and battery back-up capability. Even in the event of a grid outage, the M5 will continue to operate as uninterruptible power system (UPS), providing photovoltaic (or battery) power to critical loads. Traditional grid-tied inverters do not function when primary power fails.

Our new Smart Power M5 series is a family of battery backup photovoltaic power conversion systems that offer field-tested performance with high efficiency and reliability for grid-connect applications.


San Francisco - The California Public Utilities Commission has unanimously approved the first phase of the California Solar Initiative, just two days after unveiling the 11-year proposal to install 3,000 MW of clean solar power in California. The vote makes $300 million in funds available for 2005 and 2006 solar projects on California schools, farms, businesses, and public facilities.

The program will be the nation's largest solar power investment, designed to make solar power mainstream and affordable.

The PUC is moving California to the fore in the global race to develop solar power and high-tech jobs," said SEIA's Resch. "The California Solar Initiative will add clean energy to the state's peak demand resources, reduce risk by diversifying the state's energy portfolio, and establish a world-class solar market in California."

According to a staff report prepared by the PUC last summer, this $3.2 billion investment in solar could save California ratepayers an estimated $9 billion.

[Stocky2000]

 Approved !!!!!!!!!!! 

For Immediate Release:
1/12/2006 For More Information:
Contact Bernadette Del Chiaro
(916) 446-8062 x 103

"It's Official!" CPUC Approves $3.2 Billion Solar Program

Landmark Vote Creates Nation's Largest Solar Roofs Program and Puts California on Pace to Become a World Solar Power Leader
SAN FRANCISCO—Today, the California Public Utilities Commission (CPUC) approved the California Solar Initiative (CSI), committing a combined $3.2 billion in incentive funds to drive consumers toward solar power over the next 11 years. The CSI, modeled largely on the Million Solar Roofs bill that ran aground in the state Legislature last year, is designed to provide rebates for homeowners, businesses, farmers and government projects investing in rooftop solar. It aims to install 3,000 MW of solar power regaining California's position as a world leader in solar energy.

"Its official!" celebrated Bernadette Del Chiaro, clean energy advocate for Environment California, a nonprofit, nonpartisan environmental advocacy group that has been pushing for a large-scale solar incentive program for several years. "It is about time California got serious about tapping into our abundant, homegrown solar power resources."

Today's decision adds $2.5 billion in rebate funds, available from 2007 through 2016, to the $300 million made available in December for 2006 and the $400 million already earmarked for solar power in the Public Goods Fund. The combined $3.2 billion program is the largest investment in solar power in the country. By increasing demand 30-fold, the CSI promises to cut the cost of solar by 50% within 10 years, creating a mainstream, self-sufficient solar market.

"With the high energy bills shocking California ratepayers this month, there is no better time to jump start an affordable solar power market bringing true independence from our over-reliance on natural gas," praised Del Chiaro. "Today's vote promises to ultimately eclipse dirty and expensive fossil fuels with clean and efficient solar power."

Leaders of the solar industry also had words of praise for today's vote.  "The CPUC should be congratulated in creating a decade-long initiative that will drive the U.S. solar industry to invest in technological innovation and scale up manufacturing," said Rhone Resch, president of the national Solar Energy Industries Association. "California will be a leader in the next great high-tech growth industry – solar energy."

The California Solar Initiative establishes a 2006 rebate at $2.80 per watt and requires an annual decline by approximately 10%, in line with the expected reduction in the cost of solar power. The rebate program will sunset at the end of 2016, at which point it is predicted that the cost of solar will be cost-effective without a direct rebate.

The typical California home today installs a 2.5 kilowatt system. With today's rebate level, the average $20,000 price tag for the system would be reduced by $7,000. In addition, over the next two years, homeowners can take advantage of a federal tax credit reducing the total cost by an additional $2,000. When combined with low interest loans, lowered electric bills and the ability to get a credit for excess electricity generated by the solar system, California homeowners could expect a return on their estimated $11,000 investment within the first month.

The CPUC anticipates it will fund the $3.2 billion program without raising electricity rates. Instead, the money would come from existing funds already earmarked for solar power and a small surcharge that the CPUC says can be absorbed into existing rates. According to a staff report prepared by the CPUC last summer, this $3.2 billion investment in solar could save California ratepayers an estimated $10 billion from a reduced need to build two dozen peaking power plants or to purchase expensive electricity during peak summer hours.

Other benefits of investing in solar power include cleaner air and more jobs. For every solar roof, at least one ton of global warming pollution is reduced each year. In addition, for every megawatt of solar installed, seven times more jobs are created compared with the equivalent in natural gas power plants.  Environment California Research & Policy Center research estimates 15,000 new California jobs will be created from this new solar market. 

The PUC program comes at the request of Governor Schwarzenegger and mirrors the bulk of the governor-backed Million Solar Roofs bill (SB 1), authored by Senator Kevin Murray (D-Los Angeles), and broadly supported by the state Legislature. The other policy elements contained in SB 1, such as net metering and making solar panels a standard option on new homes, still require legislative approval in 2006.

Major Elements of the California Solar Initiative Program:

• The complete California Solar Initiative program will invest a total of $3.2 billion over 11 years for consumer rebates. This number includes the $300 million added on December 15, 2005 and the $400 million already available through the Public Goods Fund.

• All small-scale solar technologies will be eligible: e.g. photovoltaics, thermal, hot water, etc.

• The rebate will start at $2.80/watt and declines 10% per year. It will be phased out at the end of 2016.

• Low-income ratepayers up to 260% of federal poverty levels will not pay into the fund and 10% of the fund will be set aside specifically for low-income and affordable housing projects.

• The program will be administered by the CPUC with administration of a rebate program specifically earmarked for new construction run by the California Energy Commission.

• The fund will be created from a small surcharge on electric and gas customers within PG&E, Edison, San Diego Gas & Electric and So. Cal. Gas Company territories. The PUC estimates the surcharge will be absorbed into existing rates without any discernible impact to energy bills.


Source:

http://www.environmentcalifornia.org/news

[Lucas Scott]

Seems the CSI approval caused a sell the news scenario for BCON and other alt-energy players today.

[Jimbo]

Seems the CSI approval caused a sell the news scenario for BCON and other alt-energy players today.

Indeed. I was watching Cramer's Mad Money and that is what he advised his viewers - sell solar energy plays when California Public Utilities Commission (CPUC) approve those $3.2 billion funding 
Hopefully all the selling was done and we can see some consolidation over the next few days, buildind a new base around the current price level. 


Still long ..................

[Stocky2000]

I totally agree with this:

I believe the action today in the last few hours was indicative of a market top capitulating and taking profit. Someone posted that the last half hour of the day was irrational, and I agree. The selloff today had nothing to do with BCON, but with those taking profits from a market that has gone up nicely since the beginning of the year. Once those sell programs started running the little guys got scared and shit their pants. I think we saw some stops get taken out under 2.10 also. It's frustrating seeing what appears to be a non BCON related selloff of the stock, as by all accounts the stock is alive and well. CPUC voted in favor of the California Solar initiative, NY is on the near horizon, and perhaps something new in the fire. As strong as the stock was today it needed a breather, except this one was overdone....or irrational. I reviewed the chart on this stock going back to before and during the run from under 1 to over 5, and guess what, this setup is VERY SIMILAR. That move up was characteristic of move up and pullback, only to head higher after the pullback. That is healthy stock movement boys and girls. I was extremely aggravated by the close today, but a friend of mine who is pretty sharp at this game added on the move down at 2.09. He's usually right calling these emotional moves, so I hold tight and wait for the real profits in the coming weeks/months as this heads into the next Q. We should see some positive PR's from the company prior to that event. We may have 1 or 2 more rough days ahead, but tomorrow will tell us how strong BCON is short term. Will the market stabilize or continue selling off? Should be interesting to watch nonetheless. I think the BCON holds the line tomorrow and bumps up back to 2.20....Good luck and good night!

[Melf Elf]

Yesterday's selloff was what I didn't want to see from this devil.   

A give back of ALL of the day's gains and more, on 7.1 milliion shares traded, which is 3½ times average daily volume.  Although the technicals like MACD and RSI still look fine, that's an ugly-looking candlestick.  An Inverted Hangman, and the "real body" (the open and the close) bearishly engulfs the prior day's real body. 

Short-term, this looks like we're at least going to the bottom of the Kumo (Cloud), and possibly back for a re-test of the breakout.  I likely will sell some or all of my position today.  I'll post it if I can.  I've been getting "Web Site Not Responding" a lot all this week.

[Stocky2000]

I am holding long and i am not selling because of one bearish candle....long and strong up. Sooner or later the money flows in here...even if it going to test the support around 1.90. My target is 3 or higher. 

In Wake of California Solar Plan, Industry Prepares for Expansion
by Jesse Broehl, Editor, RenewableEnergyAccess.com

  January 13, 2006

San Francisco Mayor Gavin Newsom spoke at a packed reception in city hall to celebrate the passage of the CSI.

San Francisco, California [RenewableEnergyAccess.com] Solar advocates and industry executives alike were in a state of complete exuberance at an industry reception Thursday at San Francisco City Hall following the narrow but successful vote by California state regulators to implement a long term rebate plan with unprecedented funding levels in the U.S.

"The most important significance to this plan is that it takes long term commitments to grow the industry. Manufacturers are contemplating major investments because of this."

- Mark Farber, co-founder and Vice President, Strategic Planning of Evergreen Solar, a photovoltaic manufacturer Earlier in the day, The California Public Utilities Commission passed the California Solar Initiative (CSI), an historic plan that allots USD $3.2 billion for solar energy rebates in the state for the next 11 years, providing for the installation of approximately 3000 MW of solar energy.

"Of all the numbers in this plan, it's the 11 number that's most important," said Mark Farber, co-founder and Vice President, Strategic Planning of Evergreen Solar, a photovoltaic manufacturer. "The most important significance to this plan is that it takes long term commitments to grow the industry. Manufacturers are contemplating major investments because of this. As well as for many installers and distributors, they need the long term commitment too."

Evergreen solar will "absolutely" increase capacity as result of this, said Farber. Already, the company has been in the process of expanding their manufacturing facilities three-fold in Germany, thanks partly to the country's supportive policies for solar. Now California, where roughly 80 percent of the U.S. solar market has been centered, has its own long-term rebate plan.

"It has been a bit embarrassing for us as Americans to not play as strong a role as Germany," Farber said. "This is clearly changing this."

Gordon Handelsman, Sr. Director of Marketing and Sales for Shell Solar, also a solar PV manufacturer, echoed Farber's thoughts.

"I see the market as a tripod between Japan, Germany and now the U.S.," Handelsman said. "The U.S. has been the lagging piece of the stool, this will address that."

Mark Roper, Vice President of sales and marketing for the U.S. division of solar manufacturer Schott Solar's U.S., added that propping up that U.S. leg of the global solar market also helps reduce the global risk for the industry and its current and future investors by diversifying the demand portfolio. This is similar to the basic mantra of diversifying investments: the more markets open up, he says, especially ones with long-term policies, the more that mainstream financial institutions will feel comfortable getting involved.

And, Roper also now expects Schott to strongly consider opening a new manufacturing facility somewhere in the NAFTA zone to meet the expected demand for solar in California.

"Yes we'll increase capacity. This plan is the kind of thing that can really grow markets," Roper said. "The next move for expansion is to locate manufacturing in the strong markets."

A key point playing into the industry's growth, and how the CSI might affect it, is the current bottleneck in the supply chain for silicon, needed for roughly 90 percent of solar panels built around the world. Robust global demand has led to a shortage of this critical raw material, and that situation is predicted to continue to hamper the market, at least within the next year or more.

"In the short term we probably are not going to see enormous growth," Roper said in reference to what the CSI plan could do to boost the market. "But this gives us as an industry confidence to work with silicon producers to expand capacity. This enables us to secure the feedstock."

Long term investments in solar silicon feedstock are critical to long-term investments in overall manufacturing, said Chris O'Brian, Vice President of Strategy and Government Relations for Sharp's solar division, currently the largest solar PV producer globally.

Just as it takes some lead time to ramp up solar manufacturing facilities, it takes lead time for silicon suppliers to ramp up their production. One of the first items O'Brian sees from the California's new long-term policy on solar is a new atmosphere of security where companies can make long-term deals for the feedstock supply.

However the industry embraces this plan, there was a resounding satisfaction that the public utilities commissioners, led by its President Michael Peevey, took a bold and progressive step this week with a policy that sends a strong message about the future of solar.

"We can begin to grow again in California," said Kari Smith, Regulatory Affairs for PowerLight, a solar systems project integrator. "The PUC effort, led by Commissioner Peevey, showed real leadership. In the end, it's individuals who show real leadership and that's what makes things happen

[Stocky2000]

 

"It's a very large measure and it's a long-term measure so it provides solar companies with incentives and visibility to undertake expensive expansion programs," said Jefferies & Co. analyst Jeffrey W. Bencik, noting that the industry already can't meet demand.

:
BCON[/size]

[Melf Elf]

Bought BCON at 1.93

Sold all of my BCON at 2.20.  Gain: 14%

BCON currently is BID 2.20...ASK 2.21

[SMTM]

me
good call on that hod and made a nice profit. i'm in @1.85, i was going to sell today. but i going to hold through the weekend. there should be a pr anytime. depending on what it is it could be a rocket.
in the past they have put pr's out at wierd times. could cause a rush of covering. right now its moving without any news at all.
i would appreciate your thoughts.
smtm

[Melf Elf]

good call on that hod and made a nice profit. i'm in @1.85, i was going to sell today. but i going to hold through the weekend. there should be a pr anytime. depending on what it is it could be a rocket.
in the past they have put pr's out at wierd times. could cause a rush of covering. right now its moving without any news at all.
i would appreciate your thoughts.

SMTM,

Thanks.  After my first two gains of 1% and ½% on this stock, I'm real happy with 14%. 

In addition to my concerns about yesterday's reversal, we've got the possibility a H&S Top basis the 10-minute chart.

Sorry about the bad writing on the chart.  It's hard to write with that pencil in Paint. 

The neckline would be Wednesday's low of 2.05 and yesterday's low of 2.07, if we've got a H&S Top.  If we take out 2.05-2.07, that puts 1.76 IN PLAY, which was the low of December 28.

Math:

The neckline was at 2.06 when the 2.37 high was made yesterday, so...

2.37 - 2.06 = 0.31 points, subtracted from the point of the break.

If we break 2.07...

2.07 - 0.31 points = Target 1.76 IN PLAY.

That doesn't mean that we're going down that low, but on my first two trades, BCON reversed far more than I thought it should have, which is why I took the small gains and exited.

On my first trade, I had a 17% paper gain at the 2.15 high, then it came all the way back.

On my second trade, Lucas Scott (Luke) and I liked the upside reversal off the December 28 low of 1.76, so I re-entered.  BCON rallied to 1.92, then  came all the way back the bottom of the Symmetrical Triangle again on December 30...and again on January 6.  Ugh!

So, if BCON breaks below 2.05-2.07, it wouldn't surprise me to see it come all the way back to 1.76, especially since we'll have a pattern target that puts 1.76 IN PLAY.

BCON currently is BID 2.15...ASK 2.16, well above the neckline.

[rickjust]

hey melf,
you'll never go broke taking profits. nice trade!

i didn't end getting in after all , just missed my chance on the run up .
so , there is always another opportuntity in the market
happy trading
maxi