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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
OddStockTrader
1 Oct 14 12:31:44
$SCTY smaked and sitting at longterm trendline here, still keeping some $VSLR
Harry Walkman
1 Oct 14 12:30:47
$SCTY Solar City Corp. and Tesla Motors, Inc.: Better Together http://t.co/aSYH7GKtHw
steven spencer
1 Oct 14 12:27:30
despite $IWM & $SPY continuing to make new lows many individual stocks i am following bottomed earlier. $TWTR $CAR $LVS $SCTY
DESTROYMAN
1 Oct 14 12:09:48
man my stocks arent doing too good. especially $SCTY. whats the deal there
Stock Moo
1 Oct 14 11:49:25
$scty: Vivint Solar to tap former parent company’s client list http://t.co/RXtFgSt4G7
P. Ricatti
1 Oct 14 11:48:28
@arielsbdar yo no jajjajjajaja tengo el 5 y es durito volviendo $mbly diro porrazo, una fichita a $scty o a $fslr hoy como la vez?
ÐANE ŚTAR
1 Oct 14 11:46:37
Some stocks I'm buying/bot on this dip... $FB $TSLA $SCTY $CSIQ $FFIV #TWEETSHOW #TWEETHEAT
Polyticks
1 Oct 14 11:46:06
RT @ClaudiaAssisMW: Here's what sets Vivint Solar apart from SolarCity: http://t.co/o60WudnI8R $VSLR $SCTY
Jay C
1 Oct 14 11:43:10
RT @AmericanBanking: SolarCity Corp Shares Down 6.6% Following Insider Selling $SCTY http://t.co/6jjUw281og
Dwayne Membrane
1 Oct 14 11:38:51
RT @intercooleronli: SolarCity Corp Shares Down 6.6% Following Insider Selling $SCTY http://t.co/tx0YZ0JaYW
InterCooler
1 Oct 14 11:38:15
SolarCity Corp Shares Down 6.6% Following Insider Selling $SCTY http://t.co/tx0YZ0JaYW
US Banking News
1 Oct 14 11:25:54
SolarCity Corp Shares Down 6.6% Following Insider Selling $SCTY http://t.co/6jjUw281og
T Bone
1 Oct 14 11:18:16
$SCTY a bloodbath on $VSLR IPO. Want to go long for bounce but is dropping like a rock. Scary!
Jim McT
1 Oct 14 11:18:12
@JustinPulitzer $SCTY held and bounced at the 38.2% Retracement from 52 Week Low
BullTrade Corp.
1 Oct 14 11:10:06
Get some $VSLR today. Build a position. This one will definitely be a big winner. They are killing it, beating $SCTY at their own game.
Claudia Assis
1 Oct 14 11:06:38
Here's what sets Vivint Solar apart from SolarCity: http://t.co/o60WudnI8R $VSLR $SCTY
the tommysaysso
1 Oct 14 10:52:14
$VSLR better option over $SCTY ; way better value and their sales are aggressive. real aggressive
CC Lagator
1 Oct 14 10:44:29
RT @RiskReversal: I, I, Ain't Gonna Play $SUNE $SCTY http://t.co/Mmh6uyY5Hj http://t.co/qHlLZalPPf
Dan Nathan
1 Oct 14 10:43:49
I, I, Ain't Gonna Play $SUNE $SCTY http://t.co/Mmh6uyY5Hj http://t.co/qHlLZalPPf
Swing Trade Alerts
1 Oct 14 10:33:02
IBD:Competition is heating up for SolarCity in the solar installation field http://t.co/s7gyx3pm3i $SCTY $VSLR $BX #IPO
Francesco Pesciaioli
1 Oct 14 10:30:33
RT @IBDinvestors: Competition is heating up for SolarCity in the solar installation field http://t.co/0MPwz1oqEE $SCTY $VSLR $BX #IPO
Dan Nathan
1 Oct 14 10:29:25
Chart of the Day: Solar Rollover? - $SUNE, $SCTY http://t.co/MCaZ8oslcP
Investors.com
1 Oct 14 10:21:49
Competition is heating up for SolarCity in the solar installation field http://t.co/0MPwz1oqEE $SCTY $VSLR $BX #IPO
Scott Smith
1 Oct 14 10:20:34
$SCTY No way would I be daring enough to call ANY bottom on this stock. Setup (chart) previously posted. http://t.co/zar8BlW5eX $STUDY
Steve Mahoney
1 Oct 14 10:07:24
RT @sallyshin: $SCTY down 2.5% at open as Blackstone backed Vivint Solar debuts on the big board today. $VSLR CEO joins @SquawkStreet after…
Shoaib Khan
1 Oct 14 09:41:09
Investing in companies like @SolarCity are very much social investment. Good financial returns with a greater cause. $scty
Shoaib Khan
1 Oct 14 09:39:41
Time to buy more of @SolarCity. Stay long in Solar City not just for profit, but you are helping our planet. $SCTY
Anacott Steel
1 Oct 14 09:35:01
You have to think to yourself - that is one massive head & shoulders top forming on Solar City. But what do the algos do? $SCTY $VSLR
Investors Hangout
1 Oct 14 09:27:19
danrocks: $PEIX Buzz $SCTY $HQD.TO $F $RFMD $JNUG http://t.co/RSp73vx6uA
Investors Hangout
1 Oct 14 09:27:05
danrocks: $PEIX Buzz $SCTY $HQD.TO $F $RFMD $JNUG http://t.co/XGENdrtsyL
TV_Trading Ideas
1 Oct 14 09:06:52
Only thing I bought today $SCTY http://t.co/J9L05ShiO2
Paul Chertyk
1 Oct 14 09:06:20
$SPX $TSLA $MTG $SCTY Whew... and the hits just keep on comin'...
Ophir Gottlieb
1 Oct 14 09:03:18
10-1-14: Daily Covered Call Report $SUNE $AMBA $SCTY $SLCA and more: http://t.co/voMNONC2Du
iHangout
1 Oct 14 08:58:19
http://t.co/Vv1sYDyeQn danrocks: The Launch Pad: $PEIX Buzz $SCTY $HQD.TO $F $RFMD $JNUG http://t.co/h2gIDHUF4H
danrocks
1 Oct 14 08:57:11
$PEIX Buzz $SCTY $HQD.TO $F $RFMD $JNUG http://t.co/FPBzVahKKu
James G.
1 Oct 14 08:54:00
Holding out on #solar? It's time to reconsider http://t.co/ktE8PKDvCj via @GreenBiz #solarpower #energyefficiency $FSLR $SCTY $SWI $PWR
Investor News Source
1 Oct 14 08:50:53
New Sales Opportunities Lead to Increased Revenues for XsunX, Inc. $XSNX $RSOL $SCTY $VSLR http://t.co/r4UuDyqE70 via @sharethis
StockTweets
1 Oct 14 08:50:45
STATS FOR $SCTY $SCTY Issued-12 times in Weekly options Hits-9, Miss-2,Break Even-1 Accuracy-82% http://t.co/S5tmzO0OMF
Joe Schmo
1 Oct 14 08:48:25
$FEYE $FUEL $TWTR $SCTY what do they all have in common??? All died during their lockup expiration be smart & buy puts on $ZOES before 10/8
Samantha LaDuc
1 Oct 14 08:47:03
8-8 wrote: "$GTAT...is broken chart on W. PT 15-11...a lot of these momos are broken on W: $SCTY headed to $56" BOTH HIT
L.V. Walker
1 Oct 14 08:43:40
RT @MelissaLeeCNBC: $VSLR- Vivint, new solar IPO, +3% on down tape, as $SCTY sinks 4.5%. Vivint has abt 8-9% of US residential solar market
Keith Lovell
1 Oct 14 08:41:13
$VSLR door-to-door sales model - no thanks, $SCTY rules the residential space
US_proptrader
1 Oct 14 08:16:46
$CRR $CVEO $DWA $KERX $RADA $SCOK $SCTY $VMEM $WAC autocharts @ http://t.co/hj7PGeTQk3
Raj  Patel MD,FAAC.
1 Oct 14 08:16:31
RT @MelissaLeeCNBC: $VSLR- Vivint, new solar IPO, +3% on down tape, as $SCTY sinks 4.5%. Vivint has abt 8-9% of US residential solar market
Eternity101
1 Oct 14 08:16:10
RT @ronin245: $SPY ...they dod a great job propping $IBB as mentioned yest -->no mas past 276 , $scty what can u say about that $90 upgrade…
ronin245
1 Oct 14 08:15:27
$SPY ...they dod a great job propping $IBB as mentioned yest -->no mas past 276 , $scty what can u say about that $90 upgrade here?
Barrett Daniels
1 Oct 14 08:14:36
Nice work vivint, now go get $SCTY http://t.co/Oy3kSC6LFL
Macrae Heppler
1 Oct 14 08:12:35
RT @sallyshin: $SCTY down 2.5% at open as Blackstone backed Vivint Solar debuts on the big board today. $VSLR CEO joins @SquawkStreet after…
C Guy
1 Oct 14 08:07:12
Was going to step away from market, but adding to my solars in IRA first. $FSLR $SCTY
Investors Hangout
1 Oct 14 08:05:09
DennyT: SCTY Morningstar $SCTY $V $VXX $FXI $JNUG http://t.co/jjDFIKwJtv
				
				
By  +Follow September 16, 2013 12:48PM
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