Alternative Energy: See a balanced market in 2009@COWN -UPDATED

		Alternative Energy: See a balanced market in 2009@COWN
		Cowen sees balanced global PV supply/demand in 2009 and believes concerns regarding steep ASP declines are overstated. The firm said the best positioned names in the group are thin-film players, ENER and FSLR, and c-Si companies with strong portfolio such as SPWR, STP, ESLR, and TSL. "We expect end market diversification, enhanced U.S. subsidies, rapid growth in Italy and France, and emergence of new regions such as the Middle East," Robert W. Stone said in a report issued Thursday. Stone said he expects module average selling price declines of 10 percent to 15 percent in 2009 and that supply and demand for global photovoltaics should be balanced. The report said demand is expected to grow from 6 gigawatts in 2008 to 14 gigawatts in 2010. Stone said he assumed an increased Democratic majority in Congress that will pass a multiyear investment tax credit with higher residential credits and utility participation. State programs also will become important. "Lower prices and improved supply should drive German expansion and renewed Japanese growth. Italy appears close to grid parity, while Middle Eastern countries could deploy PV to preserve valuable hydrocarbons for export," he said." Source: theflyonthewall.com