www.RenewableEnergyStocks.com, a leading investor news and research
portal for the renewable energy sector within Investorideas.com,
presents a sector close-up on renewable energy and solar stocks
based on overall upward trends in the market that reflected strong
gains in some of the sector leaders. First Solar, Inc. was up
$15.41 (13.86%) on the close.
Dr. Robert Wilder, of the WilderHill Clean Energy Index (^ECO)
noted, "Stocks across the board showed up green today after the
Fed's announcement targeting a rate cut, so there was little to
differentiate clean energy, which also gained, from the rest. Clean
energy clearly was hit much harder than most sectors over 2008
however, and so whether credit frees up boosting expansion of solar
power, wind, electric cars, and the like which all demand readily
available capital, remains to be seen. I think what happens the
next few months will be telling. Clean energy could move up, very
smartly off deep 75% declines for the year... or, it could revert
to 2008's downward trend. The greatest single thing missing is
probably 'confidence.' Restore that, and clean energy could perhaps
re-climb farther upwards than most sectors in reverting to
mean."
The WilderHill Clean Energy Index (^ECO) was up 5.61
(6.77%).
In terms of confidence within the sector, industry participants
are betting on Obama. "Technology breakthroughs are fueling a surge
in new energy development that is no longer hostage to the ups and
downs of petroleum," said Riggs Eckelberry, CEO of OriginOil
(OTCBB: OOIL). He added, "The incoming Administration's unqualified
support is a key factor. We are very optimistic about New Energy's
prospects for 2009."
According to Tom Djokovich, CEO of XsunX (OTCBB: XSNX), "The
failure for the US government to pass an extension to the 30%
Federal Investment Tax Credit (ITC) earlier this year placed
downward pressure on solar stocks. By the time an eight year
extension to the ITC was passed, as part of the TARP legislation,
the economy had fallen into tremendous disarray.
"In reality the underlying fundamentals associated with the need
and demand for electricity and solar have and continue to be very
strong. You have the ITC now allowing utilities to monetize the 30%
tax credits which is huge, we're seeing increased legislation
requiring and expanding renewable portfolio minimums on utilities
here in the USA and abroad, and for the first time the US
Environmental Protection Agency (EPA) appeals panel rejected a
federal permit for a newly planned coal fired electrical production
plant in Utah requiring that the EPA consider CO2 emissions when
issuing permits. This could place in jeopardy nearly 100 planned
coal fired plants.
"We even have a President-elect committing to build a new clean
energy economy, and the scope of this endeavor is beyond
comprehension for most citizens. The economic situation may be
causing investors to look the other way but I think they are
ignoring a freight train of opportunity headed their way in the
form of solar sector opportunities. I know XsunX is working hard to
deliver solar products to help fill the demand for solar,"
concluded Djokovich.
Sector Close-Up as of Trading Close December 16, 2008:
Akeena Solar Inc. (Market, News) closed up $0.12 (7.14%).
Archer-Daniels-Midland Co. (Market, News) had gains of $2.34
(8.89%).
Carbon Sciences, Inc. (OTCBB: CABN) (Market, News) closed up
$0.02 (11.11%).
Clean Energy Fuels Corp. (Market, News) was up $0.40 (8.62%) on
the day.
Evergreen Solar Inc. (Market, News) moved up $ 0.15 (5.62%).
First Solar, Inc. (Market, News) closed up $15.41 (13.86%).
ICP Solar Technologies Inc. (was up $0.02 (8.70%).
Mantra Venture Group Ltd. (Market, News) was unchanged at
$0.36.
OriginOil, Inc. (OTCBB: OOIL) (Market, News) had gains of $0.05
(20.00%).
Smartcool Systems Inc. (Market, News) was unchanged on the
day.
SunPower Corporation (Market, News ) was up $1.71 (5.60%).
Suntech Power Holdings Co. Ltd. (Market, News) moved up $0.40
(4.21%).
Westport Innovations Inc. (Market, News) closed up $0.16
(3.31%).
Yingli Green Energy (Market, News) was up $0.46 (8.95%).
XsunX Inc. (OTCBB: XSNX) (Market, News) closed at $0.20.
For investors following solar stocks, the
RenewableEnergyStocks.com website provides a comprehensive list of
photovoltaic and solar stocks to research.
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Featured Showcase Renewable Energy Stocks:
XsunX Inc.: (OTCBB: XSNX)
Based in Aliso Viejo, Calif., XsunX is developing amorphous
silicon thin film photovoltaic (TFPV) solar cell manufacturing
processes to produce TFPV solar modules. To deliver its products
the Company has begun to build a multi-megawatt TFPV solar module
production facility in the United States to meet the growing demand
for solar cell products used in large scale commercial projects,
utility power fields, and other on-grid applications. Employing a
phased roll out of production capacity, it plans to grow
manufacturing capacities to over 100 megawatts by 2010. More info
on XsunX, Inc. can be found on our media profile at:
http://www.investorideas.com/co/xsnx/default.asp or
http://www.xsunx.com/
OriginOil, Inc: (OTCBB: OOIL)
OriginOil, Inc. is developing a breakthrough technology that
will transform algae, the most promising source of renewable oil,
into a true competitor to petroleum. Much of the world's oil and
gas is made up of ancient algae deposits. Today, our technology
will produce "new oil" from algae, through a cost-effective,
high-speed manufacturing process. This endless supply of new oil
can be used for many products such as diesel, gasoline, jet fuel,
plastics and solvents without the global warming effects of
petroleum. Other oil producing feedstock such as corn and sugarcane
often destroy vital farmlands and rainforests, disrupt global food
supplies and create new environmental problems. Our unique
technology, based on algae, is targeted at fundamentally changing
our source of oil without disrupting the environment or food
supplies. www.originoil.com.
Carbon Sciences, Inc. (OTCBB: CABN)
Carbon Sciences, Inc. is developing a breakthrough technology to
transform carbon dioxide (CO2) emissions into the basic fuel
building blocks required to produce gasoline, diesel fuel, jet fuel
and other portable fuels. Innovating at the intersection of
chemical engineering and bio-engineering disciplines, we are
developing a highly scalable biocatalytic process to meet the fuel
needs of the world. Company Showcase Profile page:
http://www.investorideas.com/co/cabn/
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