The volatile solar sector was up Wednesday at it for some reason survived budget cuts and got a boost from higher oil prices and the commitment of hundreds of millions to the sector by General Electric (NYSE:GE). That pushed the share price of Jinko Solar (NYSE:JKS), SunPower Corporation (NASDAQ:SPWRA) and Canadian Solar (NASDAQ:CSIQ) up, along with others.
Investors put money into solar when energy prices, especially oil, rise, as it creates the illusion the higher oil prices make solar more attractive, even with its extremely high price tag.
Unfortunately the sector remains underwritten by taxpayers' dollars, as it should be allowed to compete in the energy marketplace to see if it in fact is being generated by demand of government fiat.
It's unlikely solar would survive without being propped up by government subsidies, and is an extremely bad precedent and policy.
Canadian Solar closed Wednesday at $10.40, gaining $0.12, or 1.17 percent. SunPower Corporation closed at $16.44, up $0.17, or 1.04 percent. Jinko Solar closed at $24.40, rising $0.72, or 3.04 percent.
Thursday, April 14, 2011
Solar (CSIQ) (SPWRA) (JKS) Up on High Oil, Budget Survival
Labels:
Canadian Solar,
Jinko Solar,
Sunpower
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2 comments:
If all the subsidies for other energies and delivery systems were removed, solar would quickly be competitive. You are only looking at a small part of the picture.
another clueless genius.
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