Exchange traded funds that invest in solar energy were set to get a boost Friday after French energy company Total (TOTF.PA) said it will purchase up to 60% of SunPower (NasdaqGS: SPWRA) for about $1.4 billion.
SunPower shares surged 40% on the news.
The stock is a top holding in Guggenheim Solar ETF (NYSEArca: TAN) and Market Vectors Solar Energy ETF (NSYEArca: KWT) at between roughly 3% and 4% of assets.
Guggenheim Solar ETF is up about 16% so far this year.
Cost reduction is the main driver in the energy industry, and in a few years solar panel installation is going to come in line with existing energy generation. [Will Solar ETFs Emerge from the Shadows?]
Guggenheim Solar ETF
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