Solar Stocks Still Rising as Oil Declines: (CSUN), (FSLR), (WEST)
Category: Investment, Solar, Renewable Energy
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News about First Solar, Inc.
New York, NY - June 21, 2012 (Investorideas.com renewable energy/green newswire) Investorideas.com news staff: Investorideas.com, a leader in renewable energy stock research for independent investors, issues a trading alert for solar stocks. The sector looks like has reached a bottom recently, with several of the well-known players showing an uptrend, even as oil prices decline.
China Sunergy Co. Ltd. (NASDAQ:CSUN) is up, trading at $1.79, gaining 0.09(5.29%) 10:06AM EDT
First Solar, Inc. (NASDAQ: FSLR) is trading at $14.94, up marginally at 0.01(0.07%) 10:04AM EDT with a morning high of $15.34.
Westinghouse Solar, Inc. (NASDAQ: WEST) is trading at $0.31, up 0.02(6.90%) 10:07AM EDT
The Dow Jones is down over 21 Points and oil is down, trading at 80.760002 at the time of this report.
The sector had been beaten down so badly that a sign of strength in the global industry in select markets is moving stocks in spite of lower oil prices.
Japan's shift to solar has been a recent factor in some of the stocks turning to the upside.
A report from the Solar Future UK conference had Giovanni Terranova, founding partner of Bluefield Partners LLP, a specialist asset manager for solar PV infrastructure, stating he sees increasing opportunities in the UK market for installers and investors:
"The UK solar industry has reached an important and exciting stage in its development and has the opportunity, for the first time, to be the cornerstone of the government's onshore renewable policy.
Due to significant cost reductions in the price of modules the solar industry in the UK is now a cost-effective solution in comparison to other renewable technologies. Solar has the potential, using lower subsidies, to see to a significant increase in installed capacity over the coming years and to be a major part of the government's 2020 renewable electricity target. The 22GW target set and confirmed by the Government has the potential to transform the UK market in one of the most interesting markets in Europe over the next few years
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