Updated from 10:06 a.m. EST
Despite the current lack of economic viability for most solar companies, newly elected President Obama has high hopes for the industry going forward.
In his first weekly address since moving into the White House, Obama said: "We will double our capacity to generate alternative sources of energy like wind, solar and biofuels over the next three years."
With the Obama administration pushing hard for plans to limit green-house-gas emissions and combat global warming, house democrats are pushing for the so-called cap-and-trade initiatives, which would set limits on various emissions standards for factories, power plants and other industrial companies. Cap-and-trade agreements are currently being used in Europe and Japan.
Right or wrong, it is clear that the Obama administration is going to throw tens of billions, if not more, into the solar sector, as industry lobbyists push the current administration for large tax credits and incentives to jump start failed projects
Here is a list of solar stocks that should benefit going forward, including
To read more,
In Tuesday trading, First Solar closed at $141.08 per share (up 1.5% for the day; up 2.3% year-to-date) and SunPower closed at $29.55 per share (up 2.6% for the day; down 20.1% year-to-date).
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