Friday, February 6, 2009
17 out of 20 are up!
The first week of February was favorable to 17 of the 20 solar stocks in this index. A couple of reasons could account for this. Projects planned last year but were postponed until the federal solar tax credit was renewed are now completing contracts. Also, investors might be encouraged from what appears a strong possibility the economic stimulus now being finalized by the Senate includes a 30% cash grant option in lieu of the 30% solar tax credit now in effect. With fewer tax-equity investors (and business owners with lower tax liabilities due to a down economy) the cash grant could jump-start solar projects that otherwise would not make financial sense (see previous post below). We'll know for sure any time now.
Of course, these gains could disappear in a day next week but any good news is worth savoring this winter.
Week of: February 2-6, 2009
Symbol/Name Monday Friday +/- % Change
DJIA/Dow Jones 7936.75 8280.59 +343.84 +4.33%
NASDAQ 1494.43 1591.71 +97.28 +6.50%
Akeena Solar AKNS 1.92 1.79 -.13 -6.78%
Amtel Systems ASYS 4.07 4.22 +.15 +3.68
Applied Mat. AMAT 9.41 10.45 +1.04 +11.05%
Canadian Solar CSIQ 5.06 5.34 +.28 +5.53
ECD (UniSolar) ENER 23.96 25.73 +1.77 +7.38%
Entech (WW) ENSL.OB .365 .38 +.015 +4.10%
Evergreen Solr ESLR 2.07 1.91 -.16 +7.73%
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