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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
Daniel Anthony
21 Dec 14 16:12:09
$SCTY above 54.88-55 level can see a rally to prior hi 57.50 then 60.48. Solars need $USO to break 22.10 & 22.43. http://t.co/nwkYLtAqdV
PolgarStocks
21 Dec 14 14:58:39
$UCFC Recent News Updated Sunday, December 21, 2014 5:07:16 PM $SCTY $ERFB $AGIO $BIB http://t.co/auPAIvSqsR
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21 Dec 14 14:57:08
$DRC Short Sales Updated Sunday, December 21, 2014 5:03:20 PM $SIRO $ACWI $NG $SCTY http://t.co/yYRuRlk43j
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21 Dec 14 14:48:06
$SCTY $54.55 LONG RT @alsabogal http://t.co/1wPKRYk8sX
Al Sabogal
21 Dec 14 14:00:42
Just added $SCTY chart to spreadsheet http://t.co/MMlZW8U8xV This along with $TAN chart http://t.co/JiWoZs2h6K has me liking r/r of sector
Stocks News&Markets
21 Dec 14 12:01:12
lx21 made $14,040 on $SCTY -Check it out! http://t.co/9WfrvXSTxD Learn #howtotrade http://t.co/axK8SMSgo9 $MTL.P $IMRS $ENRJ $NAK $SFY
PolgarStocks
21 Dec 14 11:56:07
$SCTY Stock Price Updated Sunday, December 21, 2014 2:07:20 PM $CUBA $BITA $COP $PLKD http://t.co/ewGRIfArcD
Rosner Stocks
21 Dec 14 11:53:16
$XLI News Updated Sunday, December 21, 2014 1:59:25 PM $SCTY $EWG $ROM $RIG http://t.co/ZutMRfEhp5
Rosner Stocks
21 Dec 14 11:53:12
$GMCR Short Sales Updated Sunday, December 21, 2014 1:59:25 PM $SCTY $SCTY $FXI $VXX http://t.co/fjon4smriZ
IH News Desk
21 Dec 14 11:11:08
$SCTY Short Sales Updated Sunday, December 21, 2014 1:11:18 PM $FSL $NUGT $SH $CRK http://t.co/9IpRa8xSKu
Lee Schnaiberg
21 Dec 14 10:21:14
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PrivateCapBlogger
21 Dec 14 09:54:24
September 2014: The Month SolarCity Residential Rooftop Solar Beat The US Grid Everywhere $SCTY http://t.co/gYlNwMilwb
Rosner Stocks
21 Dec 14 09:51:35
$GMCR Reviews Updated Sunday, December 21, 2014 11:59:24 AM $AAPL $GRMN $SCTY $XLU http://t.co/JTbmM1uNGC
SmallCaps
21 Dec 14 09:15:05
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Maleah
21 Dec 14 08:13:51
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Andrew Grant
21 Dec 14 07:52:45
$SCTY short term: one more push to the 56 zone...~> downturn ~> first support ~52.7 http://t.co/Sz7zdOlfaJ
PennyStock Zone
21 Dec 14 07:39:11
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PolgarStocks
21 Dec 14 06:52:15
$BITA Stock Message Board Updated Sunday, December 21, 2014 09:07:17 AM $DBA $IYT $IDCC $SCTY http://t.co/6xYy2RTytv
Stephen s
21 Dec 14 06:32:25
RT @PolgarStocks: $SCTY Investor Opinions Updated Sunday, December 21, 2014 01:07:17 AM $INTC $MYEC $VXX $QLD http://t.co/ltMLO84olm
Ivan Battye
21 Dec 14 05:02:51
RT @SeekingAlpha: September 2014: The Month SolarCity Residential Rooftop Solar Beat The US Grid Everywhere http://t.co/gt4kE9lLut $SCTY
PennyStock Zone
21 Dec 14 03:43:10
Tip #4 How to identify a HOT SECTOR? http://t.co/cFuOlMXLZp $HIMX $SCTY $HAL $UUP $CRUS $ESRX
SmallCaps
21 Dec 14 03:27:54
Tip #4 How to identify a HOT SECTOR? http://t.co/ewe2BEND4R $HIMX $SCTY $HAL $UUP $CRUS $ESRX
PolgarStocks
21 Dec 14 02:48:27
$DUST Last Price Updated Sunday, December 21, 2014 05:07:15 AM $BAS $SCTY $BABA $YUM http://t.co/GsZskJgkWy
Rosner Stocks
21 Dec 14 02:44:11
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Rosner Stocks
21 Dec 14 02:44:10
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21 Dec 14 01:48:15
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Rosner Stocks
21 Dec 14 01:42:35
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21 Dec 14 00:42:10
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IH News Desk
20 Dec 14 23:58:37
$COP Opinions Updated Sunday, December 21, 2014 02:11:17 AM $FNMA $SCTY $ABX $SUNE http://t.co/t8gnP36h0T
Maleah
20 Dec 14 23:02:02
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PolgarStocks
20 Dec 14 22:42:34
$SCTY Investor Opinions Updated Sunday, December 21, 2014 01:07:17 AM $INTC $MYEC $VXX $QLD http://t.co/ltMLO84olm
SmallCaps
20 Dec 14 20:51:42
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20 Dec 14 20:39:31
$ACWI Stock Forum Updated Saturday, December 20, 2014 10:59:22 PM $BOLT $SCTY $NUGT $ESRX http://t.co/o8PzXXZxrY
ProVesting
20 Dec 14 20:08:03
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20 Dec 14 19:49:36
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20 Dec 14 19:38:12
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20 Dec 14 19:38:08
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20 Dec 14 17:36:35
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20 Dec 14 17:35:28
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20 Dec 14 17:33:02
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20 Dec 14 17:32:17
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20 Dec 14 17:29:07
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Seeking Alpha
20 Dec 14 17:29:06
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20 Dec 14 16:53:07
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20 Dec 14 16:37:08
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20 Dec 14 16:36:23
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20 Dec 14 16:36:12
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20 Dec 14 15:52:09
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20 Dec 14 15:39:39
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20 Dec 14 15:39:25
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By  +Follow September 16, 2013 12:48PM
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