With Oil Rising Once Again — Solar Stocks Set To Soar? Northland Securities Top 2015 Solar Stock
If oil has bottomed here, then investors may want to consider solar stocks once again. Colin Rusch, Senior Equity Analyst for Northland Securities, and a specialist on the solar industry sector, was interviewed on CNBC’s Fast Money last night and, he suggested that with oil perhaps bottoming here — that soar stocks could get on a run again. Currently the Obama Admin has a 30 percent tax credit for residential solar purchase/installations (maybe commercial aw well, just don’t know) that is scheduled to be reduced to be reduced to 10 percent tax credit by the end of 2016.. The Obama Administration is advocating that the tax credit be permanently extended.
Mr. Rusch says solar will win either way; but, counter-intuitively, he argued that solar companies and stocks will actually benefit if the tax credit expires; because government involvement/”help” “has actually been counterproductive, and slowed the process of innovation in the industry down.’ Surprise, Surprise.
Mr. Rusch said that his/Northland Securities top solar pick for 2015, is EndPhase Energy (ENPH). Other solar companies likely to benefit with oil’s rise — Solar City, Trina Solar, SunEdison, First Solar, and SunPower.
Do your own due diligence, and do your homework. FYI, solar stocks, like bio-pharma, can be notoriously volatile and often takes a ‘strong stomach,’ for investors. So, buyer beware. Otherwise, good luck. V/R, RCP