Canadian Solar leads upward trend in solar stocks

Click image to enlarge.

Consistent research and development efforts to improve solar cell efficiency have yielded positive results for stock investors year over year. The increasing focus in the U.S. on green energy will see more and more power being produced from solar cells.

In 2013, only 0.2 percent of the power produced in the U.S. will come from solar generation, according to a report published by the U.S. Energy Information Administration. However, solar generation is expected to grow by 79 percent in 2013 and 49 percent in 2014. The whole solar market is predicted to provide nice returns for the long-term investors, with Canadian Solar Inc. leading the sector.

Canadian Solar Inc.

Canadian Solar (NASDAQ:CSIQ), designs, develops, and manufactures solar wafers, cells and solar module products that convert sunlight into electricity for a variety of uses. The company’s products include a range of standard solar modules built to general specifications for use in a range of residential, commercial and industrial solar power generation systems. It also designs and produces specialty solar modules and products based on its customers' requirements. Specialty solar modules and products consist of customized solar modules that its customers incorporate into their own products, such as solar-powered bus stop lighting, and complete specialty products, such as portable solar home systems and solar-powered car battery chargers.

CSIQ stock shares are up 258 percent over the last 52 weeks (July 23, 2012 to July 19, 2013). This year alone, the stock is up 294 percent, closing Friday at $13.42 per share, up one percent for the day. CSIQ has a 52-week low of $1.95 and a high of $14.47.

Disclaimer: This post is provided for information purposes only and should not be used as the basis for any investment decision. I am neither licensed nor qualified to provide investment advice. Keith Stein has no position in any stocks mentioned in this post. DCNewsroom has no position in any of the stocks mentioned in this post.

Follow DCNewsroom on Twitter and Facebook.