(California renewable energy mandate story updated for Congressional vote on Chinese import tariff)
NEW YORK ( TheStreet) -- California regulators voted last week to up the state's renewable energy target to 33% by 2020, a potential boon for solar stocks that have been buying up the right to sell big green energy projects to utilities.
First Solar (FSLR - Get Report), SunPower (SPWRA) and MEMC Electronic Materials (WFR) have all bought big pipelines of U.S. projects, which utilities may need to buy as renewable standards are increased. Asian solar energy leader Sharp became the first non-U.S. player to buy a big North American project pipeline this week when it acquired Recurrent Energy.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts