Year-to-date, TAN is up 76.2% while KWT has advanced 52%.
The good times for TAN and KWT were extended Monday when the funds gained 8.5% and 6.7%, respectively, after China, the world’s second largest economy, said it plans to quintuple its solar panel grid. Additionally, the Chinese government is providing tax breaks for solar companies to acquire, merge or reorganize their operations in an attempt to consolidate the industry. [China Helps Solar ETFs Shine]
Year-to-date, TAN is up 76.2% while KWT has advanced 52%. Those gains make the pair the two best-performing non-leveraged ETFs in 2013. The International Energy Agency recently stated that wind, solar, bioenergy and geothermal power could expand 40% over the next five years, or double the 20% growth in 2011, indicating that TAN and KWT have begun to price in future increases in solar consumption. [Solar ETFs Dazzle in Second Quarter]
In related news SunPower was upgraded to Strong Buy
I just noticed that SPWR was upgraded yesterday, I also see that after going up in the first half of the day today it seems as if there was a lot of selling or shorting or a combination of the two. One thing is for sure, there will be fireworks on earnings day because plenty will have wagered in the wrong direction.
Zachs, upgrades SPWR to Strong Buy ahead of earnings at the end of July.
On Jul 17, Zacks Investment Research upgraded SunPower Corporation (SPWR) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
This solar cell producer delivered positive earnings surprises in three out of the last four quarters with an average beat of 105.92%.
SunPower Corp.’s consistent research and development efforts to improve solar cell efficiency have yielded positive results. The solar panels produced by the company have one of the highest conversion rates and generate more than 50% energy than conventional panels.
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