RenewableEnergyStocks.com, a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on solar stocks with commentary from solar expert J. Peter Lynch, Adam Krop, Vice President-Equity Research at Ardour Capital Investments and Robert Wilder, Manager of the WilderHill Clean Energy Index.
Solar stocks were given a boost as Lehman Brothers raised targets on Evergreen Solar Inc. and First Solar Inc. First Solar was up $19.78 (7.37%) on the day following Lehman’s analyst, Vishal Shah, increasing his price target to $335 from $280.
Renewable Energy Stocks solar expert, J. Peter Lynch, commented, “Solar stocks are beginning to come back from their recent correction. About half of the stocks I follow have broken above their 50- day moving averages. If the tax credits get extended the whole sector will run up, but it will require a close eye and the ability to exit quickly if the extension fails.”
According to Adam Krop, Vice President-Equity Research at Ardour Capital Investments, LLC, “In addition to Lehman upgrade, solar stocks are moving higher on chatter that Japan may be on the verge of reinstating solar subsidies to make up for lost market share in the past two and a half years.”
The Ardour Solar Energy Index, a compilation of global solar energy stocks in three primary solar energy sectors: Photovoltaics, Solar Thermal, and Solar Lighting was up $9.20 at the close.
Robert Wilder, Manager of the WilderHill Clean Energy Index (^ECO) noted, “One needn't look very far to see why several solar stocks have seen increasing valuations lately. With oil around unprecedented highs, Saudis unable to calm concerns they cannot make up for growing depletion of existing supply, natural gas demand outstripping supply, and coal costs rising to boot, there's an environment of new attention to alternatives.”
"Solar could make up 10% of U.S. generation by 2025 according to a recent utility solar assessment study by Clean Edge and Co-op America. This kind of projection evidences the growth potential of the Solar Industry to its participants, and we feel privileged to be a part of it," said Tom Djokovich, CEO of XsunX, Inc. (OTCBB: XSNX).
Sector Close-Up as of Trading June 23, 2008:
First Solar, Inc. closed at $288.00 US, up $19.78 (7.37%) following Lehman’s upgrade.
Akeena Solar Inc. (NASDAQ:AKNS) was down $0.02 on the day but up in after markets $ 0.12 (2.06%).
Evergreen Solar Inc closed up 3.52%.
LDK Solar ADR increased $1.80 (4.80%) with additional gains after hours.
SunPower Corporation had gains of $1.29 (1.59%).
Yingli Green Energy was down $0.48 (2.46%) with after market gains of$0.15 (0.79%).
Clear Skies Solar Inc. (OTCBB: CSKH) closed down $0.08.
XsunX: (OTCBB: XSNX) closed down $0.01 (1.27%).
ICP SOLAR ended down$ 0.02 (3.23%).
WorldWater & Solar Technologies traded volume of 925,958.
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Coming soon to Investorideas.com - InvestorIdeas.com Green Investor:
Follow well-known financial columnist Michael Brush, who also writes the Insiders Corner for Investorideas.com, in a series of interviews with some of the leading CEOs, investment banking and financial leaders in the sector.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTCBB: CSKH). Clear Skies Solar, Inc. (CSS) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector.
Leading the charge among the Clear Skies technologies is their patented XTRAXR, the first of its kind to handle the trading of carbon credits and its comprehensive billing procedures, designed and developed entirely by Clear Skies Group's in-house research and development department. XTRAXR will deliver reliable autonomous data readings for solar energy systems around the United States. Additionally, the XTRAXR system can also provide monitoring of energy production from wind, solar-thermal, geo-thermal, tidal and other types of facilities and installations that are fossil-fuel independent.
CSS has become one of the premier solar electric installation companies in the country. More info can be found on the Investorideas.com Company Showcase
Featured Showcase Solar Company XsunX: (OTCBB: XSNX) Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large-scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010.
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RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our websites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure: XsunX and Clear Skies Holdings compensate the website $5000 per month. In addition CSKH has issued options.
Source: RenewableEnergyStocks.com, WilderHill Clean Energy Index, XsunX, Clear Skies Solar