Solar Energy ETFs May Start to Pick Up (TAN,KWT)
ETF Trends
The lights went out on solar-energy ETFs in February, which droppedby double digits for the month. The good news? Incentive programs andgovernment financing are revitalizing the ailing sector.
Claymore/MAC Global Solar Energy (NYSEArca: TAN) and Market Vectors Solar Energy ETF (NYSEArca: KWT) fell 11% last month, writes Kevin Baker for TheStreet.
First Solar (NYSE: FSLR) droppedin February after Chairman Michale Ahearn dumped 1.3 million shares, or40% of his holdings. Demand may diminish as Germany may start cuttingphotovoltaic-panel subsidies.
The sector may not be dark for long, though:
- Mitsubishi Electric also plans to triple solar-cell production in the next two years.
- SolarCityhas received $90 million in new funding and it will be used to financeSolarCity’s SolarLease and power purchase agreement offerings, whichallow customers to make monthly payments with zero money down for theirsolar installations, according to Environmental Leader.
- UtilityXcel Energy is offering a SolarRewards program that will give customersa one-time payment of $2.25 per installed watt of generating capacityto help offset the cost of small- to medium-sized installations.
- Customers may also sign up for rebates from federal, state and local government agencies.
- InIndia, the government included the National Solar Mission in theirbudget, which has a target of 20,000MW of installed solar power by2022, report Ameet Shah and Sourabh Sen for The Wall Street Journal. The budget for the Ministry of New and Renewable Energy has increased by 61%.
- Claymore/MAC Global Solar Energy (NYSEArca: TAN) Above..
- Market Vectors Solar Energy ETF (NYSEArca: KWT)
Max Chen contributed to this article.
Source
ETF Trends was born out of the abundant research performed by assetmanagers at Global Trends Investments. As professional money managers,we rely on ETFs to earn risk-appropriate returns for our clients. Weknow our research and findings can be of great benefit to both seasonedinvestors as well as those new to ETFs or investing.