Solar Stocks Dive With Oil Prices; CEOs See No Link By MICHAEL PERRAULT, INVESTOR’S BUSINESS DAILY

Excerpt

“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%.”

http://news.investors.com/technology/121514-730501-why-solar-stocks-have-fallen-with-oil-price-s.htm

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