Solar has long been a major topic of interest. As the world becomes more and more concerned with regard to greenhouse gas emissions, the solar industry is starting to carve a niche and break its correlation with the energy sector as a whole. This is clearly seen as oil declines dramatically, yet leaders in solar are experiencing gains. With that said, here are three solar stocks that are well worth watching at the moment…
SunEdison (SUNE) Is Leading The Charge
SunEdison Inc (NYSE: SUNE)
We’ve seen quite a bit of positive news out of SUNE as of late. As a result, we’ve seen the stock climb from $4.12 per share to $6.03 per share in only 3 trading sessions. The gains we’ve seen on the stock have quite a bit to do with the fact that their deal with Vivint Solar is back on, and SunEdison is getting a massive discount on the acquisition. Also, we’ve seen positive news for the renewable energy sector as a whole, thanks to a recent deal with regard to greenhouse gas emissions that was reached in Paris. And we recently heard that SUNE had signed a contract with the city of San Diego to provide renewable energy to the city. All in all, every piece of information that we’ve seen surrounding SUNE has been overwhelmingly positive.
SolarCity (SCTY) Is Seeing Its Fair Share Of Gains As Well
SolarCity Corp (NASDAQ: SCTY)
SolarCity is having an incredible time in the market as of late as well. In fact, over the past 5 trading sessions, SCTY has climbed from $36.21 per share to $56.22 per share. The gains we’re seeing on SolarCity are the result of two big stories. First and foremost, the Paris deal benefits the renewable energy sector as a whole, so there’s no doubt that the deal is playing a role in the bullish activity we’re seeing on SCTY currently. Outside of that, we’ve seen positive news from the United States government as well. Recently, we learned that a tax credit for businesses and homeowners who install renewable energy systems is going to continue. The 30% federal tax credit was expected to end in 2016. However, it was recently announced by Congress that this credit will extend past 2016.
Ascent Solar (ASTI) Has Been Up On Positive News As Well
Ascent Solar Tech (NASDAQ: ASTI)
Ascent Solar has been having an incredible time in the market lately as well. Since November 27th, the stock has grown from $0.11 per share to $0.17 per share and reached highs of $0.20 per share in the midst of the growth. This growth comes for a very good reason. ASTI was recently granted the GSA Schedule 56 contract. The contract makes it easy for all branches of the United States military, the US Forest Services, and all other Federal Agencies to purchase ASTI products. This creates a large, untapped revenue potential for the company. Outside of the deal, we’ve also recently heard of a patent granted to ASTI for the manufacturing process associated with its lightweight solar products. All in all, things are looking up for ASTI.
Do You Know Of Any Others?
Do you know of any other solar stocks that are posting strong gains at the moment? Let us know in the comments below!
[Image Courtesy of Wikipedia]
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