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Alternative Energy Stocks: Solar energy soars

Posted April 15, 2008

“We’ve said repeatedly that alternative energy isn’t an alternative anymore. Indeed, soaring energy costs and heightened awareness about global climate change have ushered solar power into the mainstream over the past year.” — Jason Simpkins

by Jason Simpkins

Baltimore – (TFN): After a strong 2007 campaign, solar stocks - and the overall clean energy sector - fell hard in the first quarter of 2008.

The PowerShares WilderHill Clean Energy Portfolio (PBW: NYSE), an industry standard, plunged nearly 30%. But now that their darkest days are behind them, solar stocks represent a big play opportunity for any investor savvy enough to buy in while valuations are still low.

At Money Morning, we’ve said repeatedly that alternative energy isn’t an alternative anymore. Indeed, soaring energy costs and heightened awareness about global climate change have ushered solar power into the mainstream over the past year.

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Alternative Energy Stocks: Solar energy pays

On Friday, light, sweet crude for May delivery rose 20 cents to $110.31 a barrel in afternoon trading on the New York Mercantile Exchange - just below the record price of $112.21 a barrel set Wednesday. Notwithstanding a much-criticized Energy Department projection that the escalation in petroleum prices will stop by June, there have been few - if any - real indications that oil and gasoline prices will retreat heading into the summer driving season.

That’s particularly bad news for consumers who are already feeling the pinch from the credit crunch and sinking home values. But it’s another round of good news for solar energy, which will almost certainly receive more attention - from the public, and from elected officials who feel compelled to extend, and even broaden, tax subsidies for renewable energy. Read on to learn more.

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