Image from Take Away Festival
With oil prices rising to new short term highs and unrest in the middle east region, the demand for alternative fuel to crude oil is more apparent now than ever. The demand is real, America is still the leader in oil consumption but the emerging markets are increasing their consumptions at an exponential rate. Some day oil prices will become too expensive and we will need to find an additional or even another fuel source. We will need something that is resourceful, clean and safe. The answer is Solar.
One of the reasons I like Solar is because it is a safe source of alternative energy to oil. Unlike nuclear energy, there is no fear of radiation in a catastrophic event. And unlike crude, there will not be any messy oil spills.
Another reason is that Solar comes from a vast source, that is, our sun, that we can harness for a very long time. This makes the energy source very resourceful. Unlike ethanol, we do not need to sacrifice our valuable food for fuel and affect food prices. Unlike wind, solar is much more predictable. We know when the sun rises and when the sun sets. We can build solar plants in uninhabited areas and provide power for cities. Additionally, we can make all our homes solar friendly and develop solar harnessing solutions. In the future, we can send out space probes to collect energy from the sun and transport or deliver it back to Earth.
The problem with solar today is that we do not have a way to efficiently harness the sunlight and/or convert it to electricity, however, there have been significant progress in the recent years. I believe, in time, we can improve the efficiency and one day make Solar power a popular energy consumption.
As summer is approaching, it may be a good time to explore solar stocks now. Below are some Solar companies that may consider investing in.
FSLR First Solar, Inc.
SPWRA SunPower Corporation
STP Suntech Power Holdings Co., Ltd.
WFR MEMC Electronic Materials, Inc.
TSL Trina Solar Limited (ADR)
JASO JA Solar Holdings Co., Ltd.
CSIQ Canadian Solar Inc.
ESLR Evergreen Solar, Inc.
ENER Energy Conversion Devi…
YGE Yingli Green Energy Hold. Co. Ltd.
CSUN China Sunergy Co., Ltd.
My favorite pick is YGE – Yingli Green Energy Hold. Co. Ltd. They are one of the largest producers of photovoltaic (PV) panels and have been expanding their business rapid.
Disclaimer: The author does not own any positions in any of the stocks in this article, however, the author is looking to start a position in one or more of the stocks listed.