Solar energy is gaining immense popularity in the recent times because in today’s world there is a lot of appreciation for alternative energy sources. The conventional sources of energy such as fossil fuels, coal, petrol, etc are depleting at a rapid rate in order to satisfy the needs of the growing population and that is why we see a lot of home owners and businessmen installing solar panels on their properties in order to harness the sun’s energy. Even if you do not want to install solar panels in your house, you can still benefit from solar energy by purchasing solar energy stocks.
Solar energy is a renewable energy which has been considered by many to have growth potential and hence a lot of people are purchasing solar energy stocks with a motive to make profits. In order to earn from these stocks, it is wise to lower the risk factor by opting for green mutual funds which invest in different types of renewable energy like solar stocks. One can try purchasing from Winslow Green Growth Fund (WGGFX), New Alternatives Fund (NALFX), etc.
You should purchase from those companies which are concerned with the manufacturing of the main components of solar energy such as wafers, cells, silicon, etc. Some US-based recommended silicon producers are SunPower Corp (SPWR) and Evergreen Solar Inc. (ESLR). You should also purchase from companies which manufactures solar cells by using thin layers of materials that are photovoltaic in nature. Examples of this type of company are First Solar Inc and Energy Conversion Devices Inc. (ENER).
For those who want to explore more opportunities, there are the overseas producers which offer solar parts. STP or Sun Tech Power Holdings Co. Ltd is a fine example of a company that produces solar cells and this company is located in China. You can also purchase stocks of Q-Cells, which is a German company that offers solar cells.
You can also invest in companies that produce solar panels or you can be on the lookout for new technologies in the solar energy sector or field. The California Company is one such eco friendly firm which has explored and subsequently come up with a new technology which utilizes CIGS (Copper indium gallium selenide). This is a more reasonable option in comparison to the conventional crystalline silicon.
When investing in solar energy stocks, it is important to remember that one should not invest all the available funds in one place. Hence the idiom ‘Don’t keep all your eggs in one basket’ is apt here.