Solar stocks also received a nice boost after U.S. senators reintroduced the Master Limited Partnership Parity Act, which would allow investors in renewable energy projects to access the tax advantage available to fossil fuel-based energy projects. Analyst said the bill could reduce the cost of capital by up to 50%.[Solar, Clean Energy ETFs Rally on MLP Parity Act]
While subsidies still play a major factor in the solar industry, the falling cost of solar power is driving the current boom, according to the Motely Fool. First Solar has signed a deal to sell power to El Paso Electric for less than half of what it would cost to build a new coal plant, and SunPower has a contract to supply power to Kings County, California that’s about two-thirds the cost of retail electricity.
Guggenheim Solar ETF
For more information on the solar sector, visit our solar category.
Max Chen contributed to this article.