“For solar industry bellwethers such as SolarCity, First Solar (NASDAQ:FSLR), SunPower and SunEdison (NYSE:SUNE), there have been significant declines in stock in recent months.
SolarCity is down 31% over the past three months, First Solar 39%, SunPower 35% and SunEdison 16%. Canadian Solar (NASDAQ:CSIQ) stock has fallen 33%.
Shawn Qu, CEO of Canadian Solar, said that “demand for solar energy is and will not be affected by oil price change,” noting that 39% of U.S. electricity is coal-generated, 27% comes from natural gas, 19% from nuclear, 7% hydro, 6% renewables and 1% oil.
Chinese solar stocks have sold off too. ReneSola (NYSE:SOL) has plunged 52.5% the past three months. Trina Solar (NYSE:TSL) has lost 28% and Yingli Green Energy (NYSE:YGE) 38%.”