NEW YORK, NY--(Marketwire - Jan 4, 2013) - Solar stocks have started the year with an impressive run after a dismal 2012. China's urbanization plans are expected to create new energy demand in 2013. The Guggenheim Solar ETF (TAN) has surged nearly 20 percent in the past week. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on Suntech Power Holdings Co., Ltd. (NYSE: STP) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).
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Vice Premier Li Keqiang has been pushing China's urbanization as a key factor in the nation's economic growth. China's Southern Metropolis Daily recently reported by 2020 the nation's urbanization plans is expected to create $6.24 trillion worth of investment. To support the industry the Chinese government last month confirmed a second round of subsidies will be provided to over 100 developers of solar projects.
"What these programs do in China is creating domestic demand," said Dave Smith, the portfolio manager of the Gabelli Green Fund. "It's positive for stock prices in the short term because they give a sense of confidence that these companies will be generating higher volumes."
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Suntech Power produces solar products for use for residential, industrial and utility purposes. The company has delivered more than 25,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. The company last month announced that it will supply approximately 100 megawatts (MW) of solar panels for two projects led by Mainstream Renewable Power in South Africa.
In August 2012, Yingli Green Energy reached a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui, respectively. The company has recently announced that their multicrystalline PV modules passed the Potential Induced Degradation test conducted by TUV SUD.
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