Updated from July 23, 1:01 p.m. EDT
Investors have the potential to make fortunes in solar stocks as the world quickly moves towards alternative energy sources in the face of skyrocketing commodity prices. The solar industry has a number of strong factors moving its way that could lead to explosive growth, such as concerns about global warming, a pressing need to reduce energy costs and the need to cut dependence on foreign oil.
Legendary oil investor Boone Pickens is also behind the idea of solar energy as a viable alternative energy source. During an interview Monday on
, Pickens said, "You have resources from Texas west to California. You've got solar. Those two resources have to be developed." His focus on the space is sure to draw additional investor attention to solar plays.
Due to the recent market selloff in China, some of the Chinese solar names are beginning to look very attractive from a valuation perspective. Opportunities for money-making plays in solar stocks have never looked better.
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- Stocksrelated to drilling the Marcellus Shale
- MLPSwith yields above 7%
- Microcapstrading for less than tangible book
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