2008 Global Energy Debate

Schwarzenegger: Solar Can't Be Stopped

Stock quotes in this article: FSLR , SPWRA , LDK , ESLR  

Written by Jennifer Kho

In spite of economic troubles, it's an important time to focus on the environment, California Gov. Arnold Schwarzenegger said at a solar conference Monday evening.

"Of course we are now facing tough economic times, but that's why we need to focus on solar and [the environment]," he said. "We should not listen to those who say [that] should take a back seat. That's just plain wrong."

For example, California's 2006 global-warming bill -- which aims to bring state greenhouse-gas emissions to 1990 levels by 2020 -- will boost the economy and increase green jobs, he said.

Speaking at the Solar Power International conference in San Diego, Schwarzenegger said the conference had doubled in size since he last spoke there in 2006, when the event was held in San Jose.


Rachel Barron and Jeff St. John, Greentech Media -- Oct. 13: Solar shares rebounded along with the overall financial markets Monday as news of U.S. and European rescue plans took hold.

During late-day trading, First Solar shares (FSLR) jumped $22.45, or 19.1 percent, to $139.90 per share; SunPower Corp.'s (SPWRA) stock shot up $7.47, or 17.37 percent, to $50.48; LDK Solar's (LDK) stock rose $1.65, or 8.04 percent to $22.20 per share; and Evergreen Solar's (ESLR)increased 58 cents, or 16.86 percent, to $4.03.


He added that he was happy for an excuse to come to San Diego.

"Let me tell you, in San Diego 80 percent of the people voted for me in the recall," he said, referring to the election in 2003 in which Californians voted to recall his predecessor, Gray Davis, and to replace him with the actor. "The other 20 percent never forgave me for my movie, "Hercules in New York," which is completely understandable."

He also mentioned the $18 billion in renewable-energy tax credits that Congress approved -- and President Bush signed -- along with the $700 billion bank bailout plan earlier this month.

"You know something's going on when Congress gets involved," he said. "I was so happy that they finally got their act together in Washington. ... It's about time and it will be great for the industry and great for the nation."

  • Loading Comments...
  •  

Recent Comments





TheStreet Premium Services
Jim Cramer
Jim Cramer's Action Alerts PLUS: Now any level of investor can trade right alongside a Wall Street pro — and enjoy 24/7 access to his portfolio! Learn More
RealMoney Silver
RealMoney Silver: Get Doug Kass's exclusive trading diary + 5 of TheStreet's top premium services including Action Alerts PLUS and RealMoney — all on one streamlined page. Learn More
Stocks Under $10
Stocks Under $10: Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
OptionsProfits
OptionsProfits: Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Bryan Ashenberg
Breakout Stocks: Find tomorrow's household names today. Bryan Ashenberg finds hidden gems in exciting up-and-coming markets that he believes are ready to break out! Learn More
Dow Jones S&P 500 NASDAQ 10-Year Note
10,467.16 1,099.97 2,247.85 30.01
Oil *
77.54
DOWN
30.72
DOWN
6.16
DOWN
16.71
UP
0.00
10 Yr
3.00%
SPDR Gold
114.32
-0.29%
-0.56%
-0.74%
+0.00%
Data delayed 20 minutes

More From TheStreet

  • NEW: TheStreet Ratings Research Center
  • Cramer's Latest Picks from Mad Money
  • TheStreet Ratings: Top Rated Stocks

Brokerage Partners

Latest Trade Alerts from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

ETF Daily

Midday Bell

TSC Top Ten Stories Newsletter

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet