By: Dylan Sikes - AllPennyStocks.com News

Thursday, January 22, 2015

The U.S. solar sector generated significant interest from investors in 2010 but increasing supplies of solar modules, especially from China, pushed down prices and put pressure on margin. As a result, the financial performance of a number of solar companies weakened and their stocks struggled until the end of 2012. Since the start of 2013 though, the solar sector has seen renewed interest from investors. The sector has even seen an investment from Warren Buffett, who is bullish on the prospects of renewable energy. Not surprisingly, solar stocks have registered strong gains since the start of 2013 despite the fact that the slump in oil prices has led to a sharp pullback recently.

Among the biggest gainers in the solar sector over the last two years has been Solar3D Inc. (OTCQB:SLTD), a Santa Barbara, California-based company engaged in the business of developing and marketing a three-dimensional solar cell technology to maximize the conversion of sunlight into electricity.

Earlier today, Solar3D announced that its commercial operating division, SUNworks has received contracts to perform commercial solar design and installation programs from two major California-based companies.

One of the companies is Innovative Produce Inc., which is one of the largest agricultural grower-packers in the region. The estimated 892.8 KW project is expected to generate cost savings of $6.6 million over the next 25 years. The other contract is with Woodland, California-based Heidrick & Heidrick Properties L.P., which provides building and land leasings for a range of agricultural and mixed-use purposes.

Jim Nelson, CEO of Solar3D, said that the company’s commercial operating division continues to attract large clients who are looking to reduce overall energy costs while increasing efficiencies across the board. Abe Emard, who serves as the CEO of SUNworks, said that the SUNworks brand has exploded in popularity across California over the past year. Emard attributed SUNworks’ revenue growth to its improved business model, which involves promoting ownership advantages as well as cost-efficient leasing programs. This model has allowed the company to differentiate itself from the competition, according to Emard.

Going forward, lower oil prices could continue to keep pressure on solar stocks. However, Solar3D, with its increasing commercial projects, is well-positioned to withstand any pressure. Late last year, the company had said that its revenue would exceed $20 million in 2014, which would represent year-over-year growth of around 130%. The strong start made by SUNworks this year puts the company on track for similar growth in 2015.

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