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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
Rob Wile
16 Sep 14 06:30:02
RT @rvlandberg: #Solar on track for record $5 billion of investment from Silicon Valley this year $SCTY http://t.co/S4VL06TW5l via @Bloombe…
justin doom
16 Sep 14 06:29:49
RT @rvlandberg: #Solar on track for record $5 billion of investment from Silicon Valley this year $SCTY http://t.co/S4VL06TW5l via @Bloombe…
Dan
16 Sep 14 06:12:19
$SCTY high open interest range is 65.00 to 75.00 for option expiration 09/20/2014. http://t.co/IQUG42zf1y
Dan
16 Sep 14 06:00:53
$SCTY Max Pain = 70.50. Maturity = 09/20/2014. Previous close = 67.36. http://t.co/Z7Zmqn9xWc
z
16 Sep 14 06:00:25
$LEXG Valleyview Project (NW Alberta) 650,000 acres RESOURCES100% mineral rights http://t.co/WCX4EpcCfZ $TSLA $SCTY $QQQ $IWM #Lithium
Matt K
16 Sep 14 05:44:51
RT @DrDuru: %stocks>40DMA=34.7% Another Follow-Thru on Divergence.This Time Is Different http://t.co/fiesi9rcnF $SPY $BIDU $TWTR $IWM #T210…
Dr. Duru
16 Sep 14 05:27:22
%stocks>40DMA=34.7% Another Follow-Thru on Divergence.This Time Is Different http://t.co/fiesi9rcnF $SPY $BIDU $TWTR $IWM #T2108 $QQQ $SCTY
4-traders.com
16 Sep 14 05:05:22
SolarCity : New SolarCity Product Makes it Possible for Businesses to Significantly Increase Solar Output F... http://t.co/RauWu99qtS $SCTY
Stocks to Buy
16 Sep 14 04:14:21
SolarCity $SCTY Stock Analysis September 2014 - http://t.co/pe4ovsXAwB
Dave
16 Sep 14 04:03:43
$SCTY at bottom of recent trading range having failed b/o. Current mkt volatility warrants caution http://t.co/TpMW9VnJPz
Stock Forums
16 Sep 14 03:52:14
$EEM 52Wk High Click Here: http://t.co/6B8sjnNPrj Also See: $IWM $NFLX $MMM $SCTY ~
♫♪ Soul Girl ♪♫
16 Sep 14 03:39:49
RT @smtraderCA: Something different happened to the market http://t.co/jIucBaPlql $SPX $DJIA $NDX $SCTY $GOOGL $AMZN $NFLX
Точка Входа.Трейдинг
16 Sep 14 03:00:27
In Play / / $RAX $SCTY $YY $ALR / / #трейдинг #nyse #nasdaq #биржа
Chasing Stars
16 Sep 14 02:49:43
$DRYS Volume Click Here: http://t.co/rpoPZkzJ13 Also See: $SMH $SCTY $CGRA $LULU ~
Stock Forums
16 Sep 14 02:34:28
$DBC Stock Message Board Click Here: http://t.co/HqFz9erpDw Also See: $SCTY $NBG $BRZL $PFE ~
Stock Forums
16 Sep 14 02:17:37
$CVX Ask Click Here: http://t.co/QImaAi8ZAd Also See: $TMV $SCTY $NUGT $BBRY ~
takethisbet
16 Sep 14 01:53:19
@1232falcon score of $107.74! $SCTY 1c07e #takethisbet http://t.co/FOP3hHKSj8
Woll Street
16 Sep 14 01:45:53
https://t.co/dx6lFSJqO2 $SCTY bottom of this cup n handle is this green line near 62.75 which may be great dip buy entry. Bottom of cloud.
Reed Landberg
16 Sep 14 01:29:03
.@ElonMusk's returns from SolarCity in #solar better than Tesla's electric cars http://t.co/S4VL06TW5l via @BloombergNews $TSLA $SCTY
Reed Landberg
16 Sep 14 01:28:07
#Solar on track for record $5 billion of investment from Silicon Valley this year $SCTY http://t.co/S4VL06TW5l via @BloombergNews
smtrader StockTrader
16 Sep 14 01:25:58
Something different happened to the market http://t.co/jIucBaPlql $SPX $DJIA $NDX $SCTY $GOOGL $AMZN $NFLX
Henry@R-investing
16 Sep 14 00:59:35
Tesla Dives As Musk Doubts Stock Price http://t.co/qyPjMskaRZ #IBDNews via @IBDinvestors $TSLA $SCTY
Rosner Stocks
16 Sep 14 00:40:01
$C Shares Click Here: http://t.co/oodwepF09P Also See: $MMM $AMBA $SCTY $CNE.TO ~
Tomas
15 Sep 14 23:58:12
RT @CDMCapital: If $TSLA is overvalued by Musk's standards, then $SCTY must be the bubble boy poster child. $QQQ $SPY $IWM #blackbox #IPO #…
Dr. Duru
15 Sep 14 23:35:26
%stocks>40DMA=34.7%. Another Follow-Thru on Divergence...This Time Is Different. http://t.co/jxhUQ9uh5x $SPY $BIDU $TWTR $SCTY #T2108 $QQQ
Rosner Stocks
15 Sep 14 23:22:21
$ARTX P/E Ratio Click Here: http://t.co/6ZDfaMIeR3 Also See: $XLK $SCTY $SMN $JNUG ~
Stock Forums
15 Sep 14 23:12:34
$AOL Chart Click Here: http://t.co/IdMx7zYpxT Also See: $CGA $NBG $SCTY $TSLA ~
Ryan LaRue
15 Sep 14 22:35:59
9/16 WL $ANVR $YHOO $DUST $SINO $DRYS $ETAK $GPRO $LOCO $VNET $SCTY $RWLK $VIMC
Stock Forums
15 Sep 14 22:07:25
$XCLL Stock Message Board Click Here: http://t.co/6bMBpsjpJP Also See: $PLKD $SCTY $SOHU $EPI ~
Seeking Alpha
15 Sep 14 21:56:04
Tesla Rally Hits Speed Bump, Fuels Momentum Sell-Off http://t.co/zwbzgNqhBu $BABA $BIDU $GTAT $LNKD $NFLX $SCTY $TWTR $TSLA
chartguy89
15 Sep 14 20:57:24
SCTY 67.36 Stock Charts $SCTY SolarCity Corp. (NASDAQ) Last Updated: 09/15/2014 22:57:26 SCTY Stock Chart - 1 http://t.co/4aglCqcgTs
AoverK
15 Sep 14 20:46:52
Primary watch list for tomorrow: $BK $CLF $GPRO $MU $RWLK $SCTY $YHOO
Investors Hangout
15 Sep 14 20:28:49
$ONE Chart Click Here: http://t.co/VD3SoJUfRe Also See: $FNMA $VIIC $SCTY $BRZL ~
YourPersonalTrader
15 Sep 14 20:15:36
MOMO TAP OPENED @ QNET 405 'S" WARNED http://t.co/yljZfiSF8E $TSLA $YELP $FEYE $TWTR $SCTY $LNKD $MBLY $DATA $WDAY http://t.co/XhJxu0BVWf
PennyStock Zone
15 Sep 14 20:09:45
Multimillionaire trader SUPERTRADES and his EASY to replicate strategy can make you money! http://t.co/Ho9ydXHTWl $CNAT $SCTY $ECYT
Chasing Stars
15 Sep 14 17:57:27
$GRCU Last Trade Click Here: http://t.co/pVRWb1rSNY Also See: $HYG $PG $SDRL $SCTY ~
Buttercup Bids&Asks
15 Sep 14 17:45:51
$TSLA $SCTY $NFLX $LNKD $WDAY Nasty long red candles w/ tiny lower wicks. Faded from open.
Chasing Stars
15 Sep 14 17:28:33
$FBCD Change Click Here: http://t.co/FQnESVKQ7a Also See: $SCTY $SIRI $XLI $TASR ~
nixon786
15 Sep 14 16:56:11
not a good day for elon musk & co.. $TSLA $SCTY #SpaceX....
Parag Kanade
15 Sep 14 16:55:55
@WeeklyOptTrader only MoMo from now on is $BABA. as we saw today, charts don't matter $tsla $fslr $ddd $twtr $scty on and on
Green Guy
15 Sep 14 16:54:44
So many broken charts hard to wrap head around. $P has more to go, $scty ascending triangle, $GM my doubel bottom beauty! momos brutalized
Investors Hangout
15 Sep 14 16:53:08
$EOD Investor Opinions Click Here: http://t.co/0kfzUuXCaq Also See: $SCTY $XOM $PFE $GRCU ~
Kevin F.
15 Sep 14 16:48:48
guarentee $SCTY caught hella bulls off-guard. dope looking #VSBD1 breakout on Friday
suriNotes
15 Sep 14 16:43:57
Elon Musk's Correlated stocks $TSLA $SCTY http://t.co/brxlHJ3y63
Anthony
15 Sep 14 16:19:19
RT @OMillionaires: $YELP $WDAY $SCTY $SINA - nasty today - $SPY hanging in and financials strong.
Trader Bob
15 Sep 14 16:18:15
Monday TODAY'S VIDEO IS UP HERE: http://t.co/GJH4k2vxRz $CSUN $SCTY $ABTL http://t.co/DKfZDGnjtA
DESTROYMAN
15 Sep 14 16:17:44
yow... my $SCTY stock tanked today. hoping it's just people gearing up for $BABA
Trader Bob
15 Sep 14 16:17:00
Monday TODAY'S VIDEO IS UP HERE: http://t.co/nePOh28lcU $CSUN $SCTY $ABTL http://t.co/OEmYXWit70
Trader Bob
15 Sep 14 16:16:06
Monday TODAY'S VIDEO IS UP HERE: http://t.co/zrRvrxNUmG $CSUN $SCTY $ABTL http://t.co/gUtAOPqbIW
Joshua Payne
15 Sep 14 16:03:12
RT @gilmoreport: Some interesting and sudden cracks in stocks like $TSLA, $TWTR, $FB, $LNKD, $NFLX, $BIDU, $JAZZ, $SCTY, etc. come out of n…
				
				
By  +Follow September 16, 2013 12:48PM
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