Bullish Future for Solar says IEA; Solar Stocks to Watch: LDK, XSNX, TSL, YGE
New York, NY - July 15, 2013 (Investorideas.com renewable energy stocks newswire) Investorideas.com, a research portal specializing in investing ideas for independent investors, issues a trading alert for solar stocks following a bullish trading session for the sector and a recent report from the IEA that shows the rapid global advancement of renewable energy as a cost competitive choice.
In an overall strong day in the market, solar stocks closed up significantly in Monday’s trading session, some with double digit gains. Chinese solar stocks saw some of the biggest gains following headlines that China State Council said it has plans to build 35 GW of solar by 2015.
Factoring into investor sentiment, the International Energy Agency (IEA) reported in late June in its second annual Medium-Term Renewable Energy Market Report (MTRMR), that despite a difficult economic context, renewable power is expected to increase by 40% in the next five years. Renewables are now the fastest-growing power generation sector and will make up almost a quarter of the global power mix by 2018, up from an estimated 20% in 2011. The share of non-hydro sources such as wind, solar, bioenergy and geothermal in total power generation will double, reaching 8% by 2018, up from 4% in 2011 and just 2% in 2006.
According to the report," renewables are becoming cost-competitive in a wider set of circumstances. For example, wind competes well with new fossil-fuel power plants in several markets, including Brazil, Turkey and New Zealand. Solar is attractive in markets with high peak prices for electricity, for instance, those resulting from oil-fired generation. Decentralised solar photovoltaic generation costs can be lower than retail electricity prices in a number of countries."
The report also noted in relation to China solar stocks, "Led by China, non-OECD countries are expected to account for two-thirds of the global increase in renewable power generation between now and 2018. Such rapid deployment is expected to more than compensate for slower growth and smooth out volatility in other areas, notably Europe and the US.”
LDK Solar Co., Ltd. (NYSE LDK) closed at $1.75, up $ 0.31 or 21.53% on over 6 Million shares. The stock had a day high of $1.77.
XSUNX Inc. (OTCBB: XSNX) closed at .011 on over 500,000 shares The CA based Company is a developer of CIGSolar®, a patent-pending technology for the mass production of CIGS solar cells that offers a capital-efficient, low-cost alternative to the use of silicon solar cells.
Trina Solar Limited (NYSE: TSL) ended the day at $7.74, gaining 0.87 or 12.66%.
Yingli Green Energy Holding Co. Ltd. (NYSE:YGE) closed at $4.16, spiking 0.42 or 11.23% and continued gains in after hours trading.
Ascent Solar Technologies, Inc. (NASDAQ: ASTI) had notable gains, closing at $1.12, up 0.09 or 8.74%
First Solar, Inc. (NasdaqGS: FSLR) closed at $50.27, moving up 2.62 a share or 5.50%, with a high of $51.
About the IEA
The International Energy Agency is an autonomous organisation which works to ensure reliable, affordable and clean energy for its 28 member countries and beyond. Founded in response to the 1973/4 oil crisis, the IEA’s initial role was to help countries co-ordinate a collective response to major disruptions in oil supply through the release of emergency oil stocks to the markets. While this continues to be a key aspect of its work, the IEA has evolved and expanded. It is at the heart of global dialogue on energy, providing reliable and unbiased research, statistics, analysis and recommendations.
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