Solar industry bellwethers such as SolarCity (SCTY), First Solar and SunPower are down in afternoon trading Friday, but they are hoping the sun shines brighter on them in 2015 than it did in 2014. Solar stocks tumbled in 2014 as oil prices plummeted and the energy sector experienced volatility. Solar company executives and analysts say solar stocks have fallen in tandem with falling oil prices, although they see no fundamental connection. Over the
Solar stocks have plummeted in tandem with oil prices in recent months, yet some solar company executives and analysts wonder why. SolarCity (SCTY) CEO Lyndon Rive doesn’t see a fundamental correlation between oil prices and the solar industry. “I think people put energy in one big bucket, and oil, of course, falls into the energy bucket,” Rive told IBD. “But you have to look at how electricity is generated. In the U.S., almost no oil is used to
SolarCity (SCTY), the No. 1 residential solar installer, and Bank of America on Thursday announced a partnership to finance $400 million in solar power projects next year. SolarCity was up nearly 4% in midday trading in the stock market today, near 52. Bank of America Merrill Lynch (BAC) stock was up more than 1%, near 18. The new financing will let thousands of U.S. homeowners who are customers of the San Mateo, Calif.-based company install solar