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FOR IMMEDIATE RELEASE

PROGRESSIVE INVESTOR RELEASES REPORT, "INVESTING IN SOLAR PV."

NEW YORK, NY, February 15, 2005 --/WORLD-WIRE/-- Progressive Investor announces the release of its report, "Investing in Solar Photovoltaics: a Market at the Tipping Point."

2004 may well be remembered as the watershed year for solar energy. It's been a long time coming, but in this 50th anniversary of the solar cell, the industry is showing clear signs it is indeed at the tipping point toward mass commercialization.

Experts say the solar PV market will grow from the current US$7 billion to US$30 billion in 2010. With annual growth rates exceeding 30%, and expanding profit margins, solar PV is in transition to becoming one of the world's fast-growth, profitable industries.

2004 was the year the industry really took off. Together, the world's 24 publicly traded solar companies saw their shares jump by almost 185%. Customer demand is so high that solar manufacturers are completely sold out and are ramping up to meet demand.

2005 portends to be even a bigger year, with over 20 IPOs in the works. The sector will be much bigger with many new players, and with existing players practically all reaching profitability.

The companies our analysts favor for investors are Japan's Sharp (6753 JP), Kyocera (6753JP),and Tokuyama (4043JP), Germany's SolarWorld (SWVG.BE) and Q-Cells (a much anticipated 2005 IPO), and Evergreen Solar (ELSR) in the U.S.

"Until recently, few analysts followed this industry. Now, especially because Sharp is investing so heavily in the field - with an impressive annual growth rate of 63% and with solar contributing to about 15% of operating profit by the end of next year - they are incorporating solar into their financial models. Institutional investors are also showing great interest," notes Rona Fried, Editor.

Says, Michael Rogol, a solar analyst with CSLA Asia Pacific, The company I'm most excited about is Q-Cells. It has the potential to be the Netscape of the solar sector. When Netscape went public in 1994 it started the Internet stock boom."

This report is a succinct overview of the industry, the investing landscape, and the main players.

    The sections are:
    • The Solar PV Landscape
    • The Solar Investment Landscape
    • The Major Solar Players
    • Meet the German Pure Play Favorites: SolarWorld & Q-Cells
    • Meet the U.S. Pure Play Favorite: Evergreen Solar
    • Meet Canada's Pure Play Favorite: Carmanah Technologies
    • Performance Charts & Table of the Public Companies
    • Future PV Technologies
    • Partner Conversation: The Experts' View on Solar Investments

    The contributing analysts are:
      Michael Rogol, Senior Analyst with CSLA Asia Pacific Markets.
      Walter Nasdeo, Managing Director & Head of Energy Technology Group, Ardour Capital.
      Mark Cox, CEO, New Energy Fund, LP.
Progressive Investor is a monthly newsletter that guides investors and advisors toward sustainable investments. Each issue can be purchased individually or as part of a subscription. http://www.sustainablebusiness.com/progressiveinvestor/index.cfm

CONTACT:
Rona Fried
631-423-3277
rona@sustainablebusiness.com

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