Published on : Nov 01, 2013
Due to the growing awareness of the unfavorable environmental effects on energy sources and fossil fuels, many renewable sources of energy including the solar energy is considerably increasing the attractiveness of this field and scope of science. The involvement of the U.S. government in the increase of the use of solar energy has majorly contributed to an enhanced demand for positive momentum for solar stocks and solar panels.
In the present times, maximum alternative energy and solar power growth is expected to come from China. The country has created several solar power and solar panel manufacturing factories that have further reduced the panel price and increased the attractiveness and efficiency of the energy source. According to a number of reports, including the Bloomberg, China is likely to become the largest consumer of solar panels in 2013, adding to which the new generation capacity will increase to 34.1 Giga watts – 14% in 2013.
This entire drive for alternative energy sources is reflected by the prominent alternative energy ETF’s such as the Guggenheim Solar ETF. The ETF has served many annual returns of about 150% followed with 103% of Market Vectors Solar Energy ETF.
SunEdison is a key player in the Solar Power industry. It has majorly benefitted from this particular trend with its decision to spin off its semiconductor and introduce the silicon wafer technology achieving more market traction. Such a progress and increasing popularity has helped SunEdison gain increasing share prices from around $2.7 to above $9 in the last year.