6 Solar Stocks Reacting To A Changing Market
Solar energy has been harnessed by humans since the beginning of time. Humans first used solar energy to dry food and clothes. The sun has produced energy for billions of years, where a very small part of it reaches the earth. With the Obama administration promising to take on global warming and lessen the country’s dependence on foreign oil, renewable energy may be the answer. Wind turbines, geothermal plants and bio-fuel plants will be important contributors. Ultimately, the most abundant form of energy comes from the sun.
A study by the International Energy Agency (IEA) in 2011 revealed that “the development of affordable, inexhaustible and clean solar energy technologies will have huge longer-term benefits. It will increase the energy security of many nations through reliance on an indigenous, inexhaustible and mostly import-independent resource. Furthermore, solar energy will enhance sustainability, reduce pollution, lower the costs of mitigating climate change, and keep fossil fuel prices lower. These advantages are global. Hence, the additional costs of the incentives for early deployment should be considered learning investments. They must be wisely spent and need to be widely shared.”
First Solar (FSLR) recently disclosed that it will build two utility-scale plants in Australia, which represents 159 megawatts of production. The next day, shares of First Solar rose by 17%. First Solar also benefited from the announcement that it will delay the plant closing in Frankfurt, Germany, by about three months due to an increase in demand for solar modules in Europe.To continue reading, click here.