2015 seems to be shaping up to be another great year for stocks. One of hottest sectors in the market right now is solar energy. The solar energy industry is currently ranked #46 out of over 260 total industries. That’s the top 17%, showing the positive growth potential of this industry. With the ongoing battle with declining oil prices one would think this would be a red flag to stay away from solar stocks but there are still solar companies that have been able to weather the storm.
Canadian Solar Inc. (NASDAQ: CSIQ)- One of the world’s largest solar power companies, is no stranger to any investor in 2015. Over the last 60 days CSIQ is up over 80% currently priced at $34.45. The company just announced Wednesday March 18th, that they will be attending the 18th Credit Suisse Asian Investment Conference in Hong Kong.
Golden Age Resources (OTCMKTS: GDAR)- This is a solar sub penny stock to watch in 2015. The company has been able to identify an unbelievable opportunity in one the world’s primary landscapes for new market entry, Mexico. Mixed with unique financing options GDAR through its subsidiary will develop solar energy projects to offer a new value proposition that make business sense for emerging.
GDAR released news in early February of 2015, announcing that it has completed an agreement with a Mexican company to create a subsidiary that will be composed by GDAR, which will allow the company to develop solar power in Mexico. According to Solar Industry Magazine as “North America’s New Frontier For Solar Power,” Mexico is ranked 14th in the world for gross domestic product. Mexico not only have competitive energy prices set high by the country’s provider, Comision Federal de Electricdad, but in the past, energy prices have spiked at rates up to 8%-10% annually. Put that together with the cost decrease that solar systems have gone through in recent years, solar has reached socket parity in Mexico!
First Solar Inc. (NASDAQ:FSLR)- is a leading global provider of comprehensive photovoltaic solar systems, which use its advanced module and system technology. Similar to CSIQ it is showing a bullish market on its 3-month chart. Over the last 60 days FSLR is up 54.2% with a current price of $61.43 with positive trading momentum continuing to see this at higher levels
The question investors are asking now is how will oil prices effect solar? With declining oil prices in recent months these three top solar stocks to watch have found a way to weather the storm.