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 GT Solar International (NASDAQ:SOLR), Ascent Solar Technologies (NASDAQ:ASTI), LDK Solar (NYSE:LDK) and Renesola (NYSE:SOL) up, along with others.
Investors place money in 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.
Renesola closed Wednesday at $9.46, gaining $0.29, or 3.16 percent. LDK Solar closed at $11.63, up $0.40, or 3.56 percent. Ascent Solar Technologies closed at $1.70, rising $0.07, or 4.29 percent. GT Solar International closed at $10.24, increasing $0.24, or 2.45 percent.
Thursday, April 14, 2011
Solar (SOL) (LDK) (ASTI) (SOLR) Up on Budget Survival, High Oil
Labels:
Ascent Solar,
General Electric,
GT Solar,
LDK Solar,
ReneSola
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4 comments:
Solar energy is, together with some other renewable energies, the only way to get a reduction of our dependence of fossil energy, which is by itself destroying our ozon and has side effects that are never accounted.
Burn OIL is pollution and always will be. It is jsut as cheap as it is, because the dominance of oil is worldwide and mankind didn't have alternatives in the last century.
Compare the costs of oil and solar is somehow like compare the costs a carmaker like Toyota, GM or VW would have to built a new car from scratch with some company who builds a new car in a garage.
In some regions solar energy can already compete.
Let solar have some 20 % of the electrical market in Europe or the US and compare the prices then, not now.
And compare the real costs of OIL and ELECTRICITY, include transportation costs of electricity, include the disasters which are not cleaned up in many oil producing regions. Put a price on them and calculate new. Put a price on the nuclear disasters.
And maybe, just maybe, you might think about the world you are about to leave behind for your grandgrandchildren....
How can people be so shortsighted and care so much about how much money they have in the pocket right now.
Stop making only half of the math when looking at solar and other alternative energies. We all would be doomed for sure in the future without the entrepeneurs in that field.
Yust my humble opinion.
Joachim
Well, many people talk about solar and other renewables requiring a huge amount of taxpayer money... what about all we pay when oil goes up?? What about the amounts we pay to fix the problems oil spills and nuclear contamination create? It's still our money that vanishes... but in this case not to reduce environmental impacts, only to make the rich richer...
Who's the stupid here?
Another dumbass basher that seems to know nothing about the sector. Solar is here to stay and grow and grow and grow. Every year for the last 3 years the analysts have said that solar wouldnt meet numbers. They not only beat but killed the numbers every year. Get a grip people.
T. Boone Pickens on Oil
Direct Quotes from a recent Bloomberg interview
"Let's back up and look at the picture for what it is. There's about 88 Million barrels produced (A Day)and we're using 20 million barrels. So we're approaching about 25% of all the oil used in the world every day. WE ONLY HAVE 4% OF THE POPULATION. That is not sustainable. That.... you cannot continue down that trail. This year if oil is $100 a barrel average, THE OPEC Countries WILL RECIEVE from their customers around the world, EVERYBODY, OVER 1 TRILLION DOLLARS!!!! That is the largest TRANSFER of WEALTH from one place to another in the HISTORY OF MANKIND!!! That is not sustainable either. SO GET ON SOMETHING THAT IS SUSTAINABLE!!!"
Boone Pickens has been warning of PEAK OIL for quite some time now and most intelligent people understand this. He has been promoting the use of Nuclear (you can't pick all winners, lol), natural gas,and ALTERNATIVE ENERGY (SOLAR, Wind, Wave, Hydro, GeoT).
Some people may not like the guy, but HE AINT NO DUMMY
Listen PEOPLE, Id rather invest a few dollars on a Renewable, Free, Clean Energy that makes the US and the rest of the world less dependent on foreign oil than to give ALL MY CASH to Opec!!!
Disclosure: I am long LDK Solar
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