Are there clear skies ahead? We’ve identified 13 solar stock rockets about to take off.

After Japan’s nuclear power scare, safer energy sources became an instant priority of nations spanning the globe. Weeks later, the Obama administration’s Blueprint for a Secure Energy Future looked to turn out the lights on foreign oil dependence, opting to exploit America’s limited reserves and subsequently catalyze the development of alternative energy sources. In the wake of these events, the solar energy industry is looking to capitalize on this rare opportunity by championing its increasingly affordable and ever-advancing technology. We take a look at 13 stocks that may help investors benefit from the sunny forecast.

Canadian Solar, Inc. (CSIQ): Manufacturing solar modules, power systems, and other specialized solar products for customers in over 30 countries, this Ontario-based solar technology giant appears poised for long-term growth. CSIQ shares traded at $10.80 upon closing Thursday, hoping to recover from a fall off their YTD high of $16.38 in February. Canadian Solar, Inc. recently announced an engineering, procurement, and construction agreement with SkyPower Limited to construct a monstrous 30 megawatt solar field in Ontario capable of powering 50,000 homes over the next 20 years. With a P/E ratio of 9.40 and a 1-year target estimate of $12.48, investors with long-term time horizons should take note of the current affordability of this stock.

First Solar, Inc. (FSLR): If Canadian Solar’s plans seemed ambitious, First Solar, Inc.’s are downright fantastical. The world’s largest solar panels producer announced plans to construct a $300 million, 500 megawatt solar field in Arizona that will effectively double the U.S. solar energy production capacity. FSLR stock, with a P/E ratio of 19.35, traded at $148.80 Thursday, continuing to fall off its recent spike that saw shares valued as high as $160.84 last week. Additionally, General Electric (GE) announced Friday morning that it plans to construct a $600 million solar factory to compete directly with First Solar, Inc., pressuring the industry leader to take strides to maintain its supremacy.

source: seekingalpha

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