W/NUKE MELTDOWN, A TURN TO NEW ENERGY

Fears of nuclear power send solar stock prices through the roof
Amanda H. Miller, March 16, 2011 (Clean Energy Authority)

"While the markets in general were down…solar and renewable energy stocks surged to recent highs as news of nuclear woes in Japan circulated.

"Solarworld AG (OTC US) was up almost 15 percent…SunPower (SPWRA) was up nearly 10 percent…First Solar (FSLR) was up 5.6 percent…and LDK Solar (LDK) was up 7.7 percent…These steep increases were particularly striking given the dramatic drops seen in the world stock markets in general."

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"U.S. Stocks dropped about 6 percent…[and] opened…down another 2.3 percent…The Dow Jones Industrial Index had dropped 1.7 percent…on top of an 18 percent decline in the Tokyo Stock Exchange, which saw the biggest drop since the financial crisis of 1987…[following the] March 11 earthquake…and tsunami…As the world’s third-largest economy, Japan’s economic woes could dramatically impact the world. Some analysts speculate this might lead to an international sell-off of stocks."

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"But analysts like Adam Krop, vice president of equity research at Ardour Capital Investments, believe one reason the solar and renewable energy stocks are not only being spared by the sell-off but are actually thriving is that the industry will be in demand as fears surrounding the vulnerable state of Japan’s nuclear power plants grow.

"Japan is currently fighting meltdowns at several of its nuclear power plants…While the world looks on and hopes for the people of Japan, the nuclear issues there have forced some hard conversations about the world’s energy future…[and] governments [move] away from nuclear…toward renewables…"