RenewableEnergyStocks.com, a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on renewable energy and green stocks following a general rally in the market Monday, incited by President-elect Obama’s discussion on the weekend of proposed significant infrastructure spending moving forward.
President-elect Obama has aggressive plans for the greentech and tech sectors as well, which has investors looking at the stocks with renewed optimism. According to change.gov The Obama-Biden New Energy for America plan has goals to “create five million new jobs by strategically investing $150 billion over the next ten years to catalyze private efforts to build a clean energy future.”
Renewable Energy Stocks solar expert, J. Peter Lynch noted,” I think that solar stocks have moved to an extremely oversold position and certain companies (ones with management, strong cash positions and some form of product differentiation) will be positioned to take advantage of the long range planning of the Obama administration in the area of renewables.”
Sector Close-Up as of Trading December 8, 2008:
The WilderHill Clean Energy Index (^ECO) was up $ 6.99 (8.48%). ECO was the first Index for clean renewable energy and has since become a benchmark Index for the sector.
The First Trust Global Wind Energy (FAN) ETF was up $ 0.90 (8.08%) and the Claymore/MAC Global Solar Energy (TAN) was up 0.4537 (6.11%). The Claymore ETF (TAN) tracks the MAC Global Solar Energy Index (^SUNIDX) that was up 6.61 % on the day.
Akeena Solar Inc. (NASDAQ:AKNS) was up over 4%.
Archer-Daniels-Midland Co. (NYSE:ADM) was up$ 0.98 (3.79%).
Clean Energy Fuels Corp. (NASDAQ:CLNE) was up $ 0.26 (5.32%).
Evergreen Solar Inc (NASDAQ:ESLR) closed with gains of $0.18 (7.29%).
First Solar, Inc. (NASDAQ: FSLR) closed up $6.30 (4.90%).
SunPower Corporation (SPWRA) closed up $ 2.19 (6.70%).
Suntech Power Holdings Co. Ltd. (STP) closed up $1.54 (18.12%).
Yingli Green Energy (YGE)ended the day up $0.76 (17.47%).
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Featured Showcase Renewable Energy Stocks: XsunX Inc: (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. More info on XsunX, Inc. can be found on the media profile on the InvestorIdeas website.
OriginOil, Inc: (OTCBB: OOIL)
OriginOil, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today, our technology will produce "new oil" from algae, through a cost-effective, high-speed manufacturing process. This endless supply of new oil can be used for many products such as diesel, gasoline, jet fuel, plastics and solvents without the global warming effects of petroleum. Other oil producing feedstock such as corn and sugarcane often destroy vital farmlands and rainforests, disrupt global food supplies and create new environmental problems. Our unique technology, based on algae, is targeted at fundamentally changing our source of oil without disrupting the environment or food supplies.
Carbon Sciences, Inc. (OTCBB: CABN)
Carbon Sciences, Inc. is developing a breakthrough technology to transform carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other portable fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world.
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Source: RenewableEnergyStocks.com, XsunX, OriginOil, Inc, Carbon Sciences, Inc.