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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)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SCTY
ProVesting
27 Jan 15 03:56:05
$TSL $SUNE $CSIQ $SCTY: Solar stocks rally on U.S.-India Agreement: Trina Solar Limited ...: http://t.co/YRrULSxVg7
Antonio Costa
27 Jan 15 01:58:39
$FSLR $YGE $JASO $TSL $JKS $SCTY $SOL $HSOL $CSIQ Taiwan solar cell makers set to lose US market http://t.co/a2emQHmjU9
ProVesting
27 Jan 15 01:21:04
$SCTY: SolarCity Corp Witness Large Outflow of Money: http://t.co/BJGLzgCzjj
iHangout
27 Jan 15 01:10:12
chartguy89: 2015 Trending Stocks: SCTY +3.85% Stock Charts $SCTY SolarCity Corp. http://t.co/mlXhuJvpzv
McK
26 Jan 15 22:42:31
Do not try and catch a bottom on Oil because there is none $XOM $COP Buy the future of Energy $TSLA $SCTY $FSLR $QQQ
Someguy
26 Jan 15 20:24:29
RT @StockConsultant: "Stocks to Watch" percentage leaders $SCTY $BAS $BCEI $BDSI $FTNT $INCY $SPWR $SUNE $ZLTQ http://t.co/vIY6P6HuLB http:…
TV_Trading Ideas
26 Jan 15 17:47:18
UCS Squeeze Bar $SCTY http://t.co/5pUHzJFpGk
Aniket Bhati
26 Jan 15 17:41:44
Solar stocks up strongly after Obama backs Indian effort http://t.co/joAd8Gq6Wo $TAN, $FSLR, $SUNE, $TSL, $SCTY, $JKS, $SOL, $SPWR & $CSIQ
Mark Brant
26 Jan 15 17:37:49
RT @ivolatility: SolarCity $SCTY implied volatility of 49 at lower end of index mean range
Jonathan Lee
26 Jan 15 16:01:41
5.69% gains in two days. Stock market treating me well this year $TSLA $NOK $SCTY $C $PLUG
Al Sabogal
26 Jan 15 15:21:07
@LMTentarelli I am effectively playing $TAN with $SCTY position only at moment
SH
26 Jan 15 14:26:07
$SCTY It's not a coincidence; closed just under the 20EMA http://t.co/wwubXZcm4V
ProVesting
26 Jan 15 13:46:05
$SCTY: Raymond James Sees SolarCity Shares Benefiting From Lease Ban ...: http://t.co/B0iyGKpI9e
Muathe
26 Jan 15 13:14:11
SHORT IDEAS [ Per VIDEO http://t.co/WBp8EsjPBG ]: $ARP $KNDI $LPI $PRB $SCTY $SSL $SSTK $VTNR http://t.co/GLTuYKg4oT
Sentiquant
26 Jan 15 13:00:10
#SENTISHIFTUP $DIS $IWM $DUST $BBBY $SCTY $MCD $GM $QQQ $EEM $SHPG #sentiquant 20150126 16:00:06:208
Bryce Goodman
26 Jan 15 12:57:29
$SCTY in long on daily http://t.co/daopBDgZcD
David Rakušan
26 Jan 15 12:25:06
In my opinion $SCTY has huge upside. The oil prices didn't let it go up, but neither down.
Anthony
26 Jan 15 11:41:00
RT @OMillionaires: $SCTY always moves nice when it gets a catalyst.. http://t.co/mfJXu1rA0Y
reflex
26 Jan 15 11:37:18
Solar's Southern Strategy Could Accelerate With Georgia Deal $SCTY http://t.co/xRsW82rAew via @forbes
AdamSam
26 Jan 15 11:35:26
$RGSE looks like a good bottom buy. $SCTY $FSLR $SPWR all bouncing. Also watching $EOX and $OCN. $BBEP $PLNR nice today
Dan Chapman
26 Jan 15 11:26:06
"Stocks to Watch" percentage leaders $SCTY $BAS $BCEI $BDSI $FTNT $INCY $SPWR $SUNE $ZLTQ http://t.co/vIY6P6HuLB http://t.co/UwrOQAd4sU
Hieu Nguyen
26 Jan 15 11:24:20
$FSLR $SCTY $SPWR $EXXI $PWE $LINE $UVXY Energy spiked up like crazy today & will see sell off at the end of the day, better to take profit.
Quantpost Technology
26 Jan 15 11:23:35
$SCTY $SPWR News: "The Far-Reaching Implications Of A Solar Supply Shortage…" http://t.co/qsyApO9LLD Board view: https://t.co/ThrzKywzJU
Seeking Alpha
26 Jan 15 11:23:35
The Far-Reaching Implications Of A Solar Supply Shortage http://t.co/ewfvAnBDEx $CSIQ $JKS $SCTY $SPWR $VSLR
unrealTAKEDA
26 Jan 15 11:16:57
$SCTY though..
PrivateCapBlogger
26 Jan 15 11:16:20
Solar stocks up strongly after Obama backs Indian... $TAN $FSLR $SUNE $TSL $SCTY $JKS $SOL $SPWR $CSIQ $JASO http://t.co/c0SfDyksco
Gregory Bent
26 Jan 15 11:08:47
RT @theflynews: Solar names rise after Obama pledges U.S. help for Indian solar push $FSLR $SUNE $CSIQ $JKS $JASO $SCTY: Full Story http://…
strader55
26 Jan 15 11:04:17
DTGoody: I would Love to see $SCTY Hit $60 - DTGoody http://t.co/Cyuz1fnn94
Perfor Mance
26 Jan 15 11:02:33
Option Millionaires: DTGoody: I would Love to see $SCTY Hit $60 http://t.co/9rOGcVNdGw
Hieu Nguyen
26 Jan 15 10:51:43
$FSLR $SCTY $SPWR $EXXI $LINE $HAL $IMMU now market is all Green now. $UVXY continue dip further. Will watch how low it goes to jump in.
Cody Purcell
26 Jan 15 10:49:04
Monopoly Money http://t.co/SC7ROHWYGo $SCTY
Perfor Mance
26 Jan 15 10:47:10
Option Millionaires: jimmybob: $SCTY always moves nice when it gets a http://t.co/o3NEC6RNRu
Matthew Kracht
26 Jan 15 10:44:32
RT @inthemoneybitch: $SCTY HOD
Hot Stocks Under 10
26 Jan 15 10:44:18
$JUNO UP 3 FROM GAP WDC BAD SALE BUT DECENT TRADE LNKD BT 225 GAP USING 224 $kite looking int $scty 20 mill short
InTheMoneyBitch
26 Jan 15 10:43:34
$SCTY HOD
Javier Temprano
26 Jan 15 10:41:51
$SCTY y tal vez $FSLR Georgia House tees up solar bill http://t.co/3ShCJD5lyJ vía @AtlBizChron
Al Sabogal
26 Jan 15 10:39:00
RT @OMillionaires: $SCTY always moves nice when it gets a catalyst.. http://t.co/mfJXu1rA0Y
Option Millionaires
26 Jan 15 10:37:33
$SCTY always moves nice when it gets a catalyst.. http://t.co/mfJXu1rA0Y
_
26 Jan 15 10:37:32
$SCTY breaking out
Flux
26 Jan 15 10:00:10
$SCTY buys 47/48 shown here :)
StockWizard
26 Jan 15 09:42:06
RT @kcprojects90: Think im gonna save my money for $SHAK IPO this Friday. Unless an oppurtunity comes up obviously with $FXCM $FCEL $PLUG o…
kevin
26 Jan 15 09:41:12
Think im gonna save my money for $SHAK IPO this Friday. Unless an oppurtunity comes up obviously with $FXCM $FCEL $PLUG or $SCTY
Linda Finelli
26 Jan 15 09:40:44
RT @theflynews: Solar names rise after Obama pledges U.S. help for Indian solar push $FSLR $SUNE $CSIQ $JKS $JASO $SCTY: Full Story http://…
Christian
26 Jan 15 09:36:01
RT @theflynews: Solar names rise after Obama pledges U.S. help for Indian solar push $FSLR $SUNE $CSIQ $JKS $JASO $SCTY: Full Story http://…
US Banking News
26 Jan 15 09:35:01
SolarCity Corp Receives Positive Rating from Raymond James $SCTY http://t.co/8FXqWudieW
Ultimate Stock Alert
26 Jan 15 09:01:32
$SCTY has resistance at 20-Day EMA of $50.14 above which it can go till $50.75
StockNewsWires
26 Jan 15 08:51:04
$SCTY: First Call Rating Update on SolarCity Corp: http://t.co/n0YSIF6n9D
The Fly
26 Jan 15 08:50:13
Solar names rise after Obama pledges U.S. help for Indian solar push $FSLR $SUNE $CSIQ $JKS $JASO $SCTY: Full Story http://t.co/T4PSdU0E8E
Dan Chapman
26 Jan 15 08:31:08
$SCTY (SolarCity) stock bounce off strong 48.5 triple+ support area, http://t.co/vIY6P6HuLB http://t.co/MumjpT7bYr
StockNewsWires
26 Jan 15 08:21:07
$SPWR $FSLR $SCTY $SUNE: Solar stocks jump after U.S.-India tie: SunPower Corporation ...: http://t.co/VGmmsrfDYg
				
				
By  +Follow September 16, 2013 12:48PM
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