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Solar Stocks on the Rise

By  +Follow September 16, 2013 12:48PM
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Several major solar companies showed gains on Monday, potentially reflecting industry approval of utilities legislation passed by the California legislature last Thursday. SolarCity Corp. (SCTY) saw gains exceeding 5 percent in early trading before ending the day just up just over 4.5 percent. SunPower Corporation (SPWR) was also up over 5 percent in early trading before settling into gains of over 3.5 percent, First Solar Inc. (FSLR) gained almost 3 percent before gains leveled out at just over 1 percent, and Chinese manufacturer Hanwha Solarone Co Ltd (HSOL) saw gains approaching 13 percent before retreating to a spike of just over 10 percent.

California Assembly bill 327, known as the “Parea Bill” for its author Assembly Member Henry T. Parea (D–Fresno), eliminated California’s previous four-tier system that charged the bigger energy users higher rates, replacing it with a simpler two-tier system that would see the majority of users paying the same rate. It also included a new monthly grid maintenance fee for all users of up to $10 (though Parea estimates it will begin at closer to $2 or $3 a month). The new fee is intended to get owners of distributed solar to pay their fair share of grid maintenance. Critics, however, claim that the new fee, combined with lower rates, could discourage future investment in rooftop solar panels.

Many in the solar industry still view the bill as an overall positive. It removes the cap on the total number of solar owners eligible for net metering payments, something advocates of the bill argue would benefit rooftop solar by eliminating uncertainty. The bill also clearly establishes the requirement that 33 percent of California’s retail energy sales come from renewable sources by 2020 as a floor, rather than a ceiling. This could pave the way for further increases, as some lawmakers have been discussing raising this requirement as high as 40 or 50 percent.

"Passage of this legislation means more Californians will now have access to cleaner, cheaper, and better energy," said John Stanton, co-Chair of the Alliance for Solar Choice and Vice President of Policy and Electricity Markets for SolarCity in a Thursday press release. "And greater market stability creates the opportunity for more jobs across California's rooftops."

Monday also brought news that China is slapping a new 6.5 percent trade duty on some polysilicon imported from the United States, targeting specific companies that are receiving government subsidies. Despite a strong domestic solar industry including 40 manufacturers of polysilicon, Chinese solar panel makers purchased some $2.1 billion worth of imported polysilicon.

 

(image courtesy of Wikimedia Commons)

Results for SCTY
Harris Market Trends
16 Apr 14 18:15:35
Watch List for 4-17 $CAT $XLE $GPRE $DTV $QCOR $LGF $NOV $SCTY $WUBA $GWRE
Will Logon
16 Apr 14 17:39:42
$WYNN Are you looking for winners like $SCTY $PC $AAPL #money http://t.co/zveyz2HtVS
Scott Redler
16 Apr 14 17:00:41
@KymLang I have $scty from today - hope it goes red to green for a add tomorrow
Kym L
16 Apr 14 16:44:22
$JASO $SCTY $CSIQ and $TRL had nice moves today
Krishna Almanzak
16 Apr 14 16:37:25
Awesome #Stock #Research $RGLD $JBL $SCTY $YOD Must see http://t.co/y92VIbQl1Y
AB
16 Apr 14 16:35:55
“@szaman: Watch List 04/17/14 http://t.co/OcTWrdjsBf $SCTY $YY $ZU $GWRE and more.” Love your picks!!!!
Erick
16 Apr 14 16:12:50
RT @szaman: Watch List 04/17/14 http://t.co/arNrtcH4BC $SCTY $YY $ZU $GWRE and more.
NYC Trader
16 Apr 14 16:11:12
Watch List 04/17/14 http://t.co/arNrtcH4BC $SCTY $YY $ZU $GWRE and more.
Pollux Technical
16 Apr 14 15:47:52
RT @RobotsWithSwag: You're a paper trader: @TheDestinyShow Show your P&L, unedited. Show proof? You was telling people to buy $SCTY at 70-8…
Robots With Swag
16 Apr 14 15:41:14
You're a paper trader: @TheDestinyShow Show your P&L, unedited. Show proof? You was telling people to buy $SCTY at 70-80 & $FB from 70
Lars Meath
16 Apr 14 15:29:43
$SLH #Stock Watchlist. Dont be left behind $SCTY $THC $QLYS Try this http://t.co/fSRGs3cpdL
Research Keeper
16 Apr 14 15:27:09
Do you think you should hold $SEIC $ATW $SCTY $S I suggest http://t.co/gLlUueXt28
Lathan Kobem
16 Apr 14 14:09:12
Todays movers to research $DTE $SCTY $TRMB $CBM #financialnews http://t.co/tKOUL7zwbq
JBS Trades
16 Apr 14 13:56:18
$tsla $amzn $nflx $lnkd $scty $xbi $gild will be on my radar to go long on
Arian Baker
16 Apr 14 13:41:54
Top Performing #Stocks today $SCTY $APA $DWA $IR #liquidity http://t.co/1XSJDkL7Td
Ignacio Johnson
16 Apr 14 13:30:30
$DPZ Get more info on $SCTY $FITB $RAX Must have http://t.co/yuByC40RMN
Yehuda Jarvis
16 Apr 14 13:17:46
It could be breaktout time on $SCTY $Q $PXD $FB #NSE http://t.co/XpFMyaaa1P
Yuonne Fulton
16 Apr 14 13:12:57
Looking for the next $MRO $DTE $SCTY $CI Check out http://t.co/eFUvkK3176
CABuyer
16 Apr 14 13:08:05
$SCTY Is this March 2000? http://t.co/SwUtGTNJuz
Spading Traces
16 Apr 14 13:01:05
RT @TheDestinyShow: Fav stocks: $FB $NFLX $AAPL $GOOG $SCTY $TSLA $TWTR $DIS $AMZN plays. $FB #1 - 80s trgt & $SCTY #2 - 90s trgt .Ask caus…
Destiny Investments
16 Apr 14 12:56:35
Fav stocks: $FB $NFLX $AAPL $GOOG $SCTY $TSLA $TWTR $DIS $AMZN plays. $FB #1 - 80s trgt & $SCTY #2 - 90s trgt .Ask cause some need pullback
Urbane_Gorilla
16 Apr 14 12:56:10
No California County Produces 152% More Solar Energy Than It Uses | EcoWatch http://t.co/yh6fwWkFb2 ** And jobs. $SCTY $FSLR $TAN etc.
JFritz
16 Apr 14 12:51:26
How could I leave out $scty Good times ahead
Peter D. Hofmann
16 Apr 14 12:45:34
$SCTY: Is this March 2000? http://t.co/VXsX4kXRXt
Mag Wilde
16 Apr 14 12:44:52
$AMZN $CSIQ $TWTR $SCTY are a few betas that kind of got moving today
Michael Lahris
16 Apr 14 12:37:58
$SCTY held up well. Sold half, will hold remainder into tomorrow.
GavinGreenberg
16 Apr 14 12:34:35
$SCTY: Is this March 2000? http://t.co/QZWUjlPnEc
DK1
16 Apr 14 12:33:49
$MA $TSLA $SCTY moving well
Klaus Daimler
16 Apr 14 12:31:17
$SCTY looking to take out day highs here.
The Bucket Shop
16 Apr 14 12:26:54
Got long some $SCTY at 55.25. 1st target is the 20 dma ~$60. 2nd target is upper BBand/50 dma ~$69.
Jon Vince
16 Apr 14 12:23:35
RT @DayTradersGroup: TSLA Apr25 190 calls finally on fire now 8.90 from our buy this morning at 7.90 #realTimeAlerts $TSLA $GM $F $GOOG $MS…
SNN Team
16 Apr 14 12:23:33
$SCTY - Is this March 2000? -> http://t.co/Bf2UJ1m0yY #stock #stocks #stockaction
Day Traders Group
16 Apr 14 12:16:32
TSLA Apr25 190 calls finally on fire now 8.90 from our buy this morning at 7.90 #realTimeAlerts $TSLA $GM $F $GOOG $MSFT $FB $SCTY $YHOO
Esau Braxton
16 Apr 14 12:12:49
#Stocks to hold onto $SCTY $PCG $MDU $OPK Worth a look http://t.co/wbosQMKLTB
Andrew Gelston
16 Apr 14 12:02:30
SolarCity Resumes Applications for California Batteries -> http://t.co/l70DO1zAYX $SCTY #energystorage #dg $TSLA
BK
16 Apr 14 12:02:03
Need to see some volume spikes here to push thru 56. $SCTY
Pollux Technical
16 Apr 14 11:53:15
Here comes the $SCTY rollover...
Rick
16 Apr 14 11:48:06
$SCTY long here
GreenUSASolar.com
16 Apr 14 11:36:29
RT @atrembath: SolarCity $SCTY comes out against grid defection http://t.co/H8p2be0aJE #solar
Brendon Slotterback
16 Apr 14 11:32:00
RT @atrembath: SolarCity $SCTY comes out against grid defection http://t.co/H8p2be0aJE #solar
CABuyer
16 Apr 14 11:27:36
$SCTY 3 Stocks Improving Performance Of The Electronics Industry http://t.co/vDvwZxLYIb
trader j
16 Apr 14 11:23:02
RT @SirMarket: This Massive Report Shows The Growth And Massive Potential Of Solar Energy In America http://t.co/IClcDtE43e $FSLR $TAN $SCTY
Exploring Markets
16 Apr 14 11:17:25
This Massive Report Shows The Growth And Massive Potential Of Solar Energy In America http://t.co/IClcDtE43e $FSLR $TAN $SCTY
Mind Equity
16 Apr 14 11:10:15
#Best #Pennystock research $SCTY $CRL $L $SPY #personalfinance http://t.co/i9ZxNpr6I7
Adriana Cristina
16 Apr 14 11:10:00
$SCTY just creeping up to $56 frustrating!
Destiny Investments
16 Apr 14 11:03:37
Troll said i'd regret buying $SCTY yesterday on dip http://t.co/tSyXE3JRSq
G
16 Apr 14 11:02:23
$SCTY day high..not that it means anything in this tape
Rookie_investor
16 Apr 14 10:49:58
RT @psychsignal: 1500.0% increased bullish conversations in $SCTY in the past 3 hours.
CABuyer
16 Apr 14 10:42:18
$SCTY SolarCity Resumes Applications for California Batteries http://t.co/kn3cG0KO4V
				
				
By  +Follow September 16, 2013 12:48PM
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