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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
WKRB News
5 Mar 15 11:54:54
Research Analysts’ Recent Ratings Updates for SolarCity Corp $SCTY http://t.co/j0HvIQIwwP
PolgarStocks
5 Mar 15 11:51:31
$NFLX Stock Message Board Updated Thursday, March 5, 2015 2:07:11 PM $SCTY $TQQQ $SRPT $EWY http://t.co/39EVmQx992
Breaking News Now
5 Mar 15 11:51:03
$SCTY: Research Analysts' Recent Ratings Updates for SolarCity Corp (SCTY): http://t.co/oEw4UtiglY
dailystockplays.com
5 Mar 15 11:47:46
7 Winning Trades 3/5/15 in Members Area http://t.co/OGUcexNAYy $ZIOP $DEPO $COMM $NE $SCTY $TV $FE
US Banking News
5 Mar 15 11:46:46
Research Analysts’ Recent Ratings Updates for SolarCity Corp $SCTY http://t.co/WhD53BwIcw
dailystockplays.com
5 Mar 15 11:40:41
NR7 Trade Review VIdeo for SCTY on 3/5/15 http://t.co/Xjyxjr4Mai $SCTY
Contrarian Investor
5 Mar 15 11:30:27
The best Solar Sector analysts discuss here: http://t.co/rcEzqn657a $CSIQ $JASO $TSL $SOL $JKS $SUNE $FSLR $SPWR $SUNE $CSUN $SCTY
Diogenes
5 Mar 15 11:14:02
@RJMahan @RiskReversal A bank plus an installer can do the same thing,at lower cost,by passing-through tax benefits. Shorter term,too. $SCTY
Rob Mahan
5 Mar 15 11:11:06
@WallStCynic @RiskReversal $SCTY provides a clean energy alternative w/out upfront costs, consumers still have the choice
John Turd
5 Mar 15 10:59:04
RT @RiskReversal: @WallStCynic @RJMahan as an aside, $SCTY is one of the worst stock charts I have seen of late: http://t.co/c420EniJSU
Prakash Gopinath
5 Mar 15 10:56:17
RT @WallStCynic: $SCTY "applications for rooftop solar in SRP territory fell 96%." On a $50/month surcharge. Shows how cost-sensitive Solar…
Dan Nathan
5 Mar 15 10:53:07
@WallStCynic @RJMahan as an aside, $SCTY is one of the worst stock charts I have seen of late: http://t.co/c420EniJSU
Diogenes
5 Mar 15 10:50:11
@RJMahan @RiskReversal But it's fair for $SCTY to lock consumers into 20-yr leases, while utilities bring prices down? Still like free mkt.
Stocks On The Move
5 Mar 15 10:46:43
SolarCity rallies following Vivnt's earnings, MLP comments http://t.co/K1kLFpg56Z $SCTY
Tech Stocks SA
5 Mar 15 10:46:43
SolarCity rallies following Vivnt's earnings, MLP comments http://t.co/f5ciPX01bg $SCTY
Quantpost Technology
5 Mar 15 10:46:42
$SCTY News: "SolarCity rallies following Vivnt's earnings, MLP comments $SCTY …" http://t.co/8xqGAXBCOs Board view: https://t.co/84pDWtslq6
SA Breaking News
5 Mar 15 10:46:42
SolarCity rallies following Vivnt's earnings, MLP comments http://t.co/XzBHDWN9An $SCTY
Rob Mahan
5 Mar 15 10:46:35
@WallStCynic @RiskReversal unfair penalties from SRP to keep customers reliant on the utility and away from solar, still like $SCTY model
Maximilian
5 Mar 15 10:43:37
$SCTY watching
Diogenes
5 Mar 15 10:41:58
Arizona SRP Decision Draws Focus To SolarCity's Uncertain Future $SCTY http://t.co/9lkRsLjXAW
BreakingStocksNews
5 Mar 15 10:41:04
$CSIQ $VSLR $SCTY: Canadian Solar Latest To Plan Yieldco, Boosting Stock CSIQ VSLR: http://t.co/3NEjCytRP2
Alexander Fernandez
5 Mar 15 10:39:00
$TSLA if TSLA can overcome most corruption including China.. Look out... Solar panels are already being installed in Mexico. $SCTY.
Captain Napalm
5 Mar 15 10:37:28
RT @WallStCynic: $SCTY "applications for rooftop solar in SRP territory fell 96%." On a $50/month surcharge. Shows how cost-sensitive Solar…
pennies dymes
5 Mar 15 10:35:44
RT @WallStCynic: $SCTY "applications for rooftop solar in SRP territory fell 96%." On a $50/month surcharge. Shows how cost-sensitive Solar…
Capital Market Labs
5 Mar 15 10:28:58
$SCTY Revenue Trend #CML http://t.co/u7IfHwuyBP
BullBear365
5 Mar 15 10:27:14
RT @WallStCynic: $SCTY "applications for rooftop solar in SRP territory fell 96%." On a $50/month surcharge. Shows how cost-sensitive Solar…
Dan Nathan
5 Mar 15 10:26:23
RT @WallStCynic: $SCTY "applications for rooftop solar in SRP territory fell 96%." On a $50/month surcharge. Shows how cost-sensitive Solar…
Mark Phillips
5 Mar 15 10:25:57
Solar Firms Expand As Solar Electricity Costs Fall http://t.co/ZeWfMa0Xjq #IBDNews via @IBDinvestors $SCTY $VSLR $NRG $SPWR
Prometheus
5 Mar 15 10:24:47
@reflex_division @JohnConaway i noticed that $SCTY likes to tweet about $TSLA on their official twitter
reflex
5 Mar 15 10:19:12
@quikjl @JohnConaway it's my assertion that $tsla and $scty in tandem will help to redefine the energy grid. #disruption.
Joe Guevara
5 Mar 15 10:18:36
$SCTY Can someone explain or give a link to what this MLP stuff is? Thanks.
Diogenes
5 Mar 15 10:14:42
@herbgreenberg At some point investors will realize this is a (subsidized) consumer finance company, not a solar technology play. $SCTY
US_proptrader
5 Mar 15 10:12:34
$ATHM $BCEI $BLRX $CNDO $INSM $LLNW $NLNK $SCTY $TSRO autocharts @ http://t.co/cLiki3R0GR
daniel
5 Mar 15 10:09:50
@codytrades nice call on $SCTY.
Wu Weed
5 Mar 15 10:09:25
@reflex_division @quikjl @JohnConaway ppl - $scty will be manufacturing it's own solar panels in upstate New York (tax free for 10 years...)
Diogenes
5 Mar 15 10:07:50
$SCTY "applications for rooftop solar in SRP territory fell 96%." On a $50/month surcharge. Shows how cost-sensitive Solar City model is.
reflex
5 Mar 15 10:05:46
@quikjl @JohnConaway $scty is my 2nd largest long position overall. after $tsla and ahead of $aapl. it's not gambling if you win ;) #future
reflex
5 Mar 15 10:01:33
@quikjl @JohnConaway you know i think $scty is a GREAT long investment.
Capital Market Labs
5 Mar 15 09:56:06
$SCTY Assets and Earnings Trends #CML http://t.co/KjIlT0l7MM
Lucky Jimmy
5 Mar 15 09:52:38
SCTY Stock up +1.82% percent Today $SCTY High is at 50.96 and the Low 50.01 with current volume of 411,318. So http://t.co/bmsTFEQdZd
Lucky Jimmy
5 Mar 15 09:52:16
$SCTY SCTY up +1.82% percent Today $SCTY Stock High is at 50.96 and the Low 50.01 with current volume of 411,318. So http://t.co/LtX1b1lt1I
Rosner Stocks
5 Mar 15 09:51:10
$SCTY Company Info Updated Thursday, March 5, 2015 11:59:27 AM $XOM $TWTR $GDX $LUV http://t.co/WicUNCDkQF
Anthony
5 Mar 15 09:39:17
RT @OMillionaires: Guess folks just realizing the MLP + $SCTY possibility? ~ Dirt cheap here regardless imho
Phil Criminale
5 Mar 15 09:37:28
Liking the long $VSLR call; 20% it's $SCTY all over again.
Rick Gobel
5 Mar 15 09:31:53
All welcome to Free Chat Friday at http://t.co/ettm4sXnc9. Find out why subs went long $SCTY at the close on Wednesday.
Prometheus
5 Mar 15 09:29:03
@JohnConaway took a position sub $51 in $SCTY. kind of surprised the investment in it by $GOOGL didnt raise PPS. @trentblari19
PaddyTheLeprechaun
5 Mar 15 09:28:15
$SCTY Did they hit your HOD stops shorts? They always do.
FREE RAY 
5 Mar 15 09:23:50
RT @LordWindsor: $SCTY this press release today is just recycled news just the dates are different
Perfor Mance
5 Mar 15 09:22:36
Option Millionaires: jimmybob: Guess folks just realizing the MLP + $SCTY http://t.co/KwUQptlJDK
senpai cat
5 Mar 15 09:21:42
RT @LordWindsor: $SCTY this press release today is just recycled news just the dates are different
				
				
By  +Follow September 16, 2013 12:48PM
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