NEW YORK, NY--(Marketwire - Feb 19, 2013) - After struggling through most of 2012, the solar industry has started 2013 on an impressive run. Both the Market Vectors Solar Energy ETF (KWT) and the Guggenheim Solar ETF (TAN) have gained nearly 20 percent year-to-date. Research Driven Investing examines investing opportunities in the Solar Industry and provides equity research on Canadian Solar Inc. (
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Solar companies received a boost last week after analysts from Citigroup's global solar sector research team initiated coverage on several companies in the industry. First Solar, Inc. and SunPower Corp. were the biggest gainers after receiving an initial "buy" rating from Citi, while Trina Solar Ltd. and Yingli Green Energy Holding Co. Ltd. benefited from a "neutral" rating.
"The upstream segment of the solar value chain is going through a permanent structural shift - mainly the commoditization of the panel manufacturing business," wrote Citigroup analyst Shahriar Pourreza.
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Canadian Solar operates in 11 countries: Canada, Germany, Italy, Japan, Korea, Spain, Australia, the U.S., Singapore, Hong Kong and China. The company's seven wholly-owned manufacturing subsidiaries have a total combined facility space of over 260,000 square meters and a module capacity of 2.05 GW. Shares of Canadian Solar have gained over 47 percent year-to-date.
Shares of JA Solar have gained over 30 percent year-to-date. According to the annual industry report published by SolarBuzz in March 2012, JA Solar ranked first in China and second globally in terms of cell production in 2011. The company has recently completed the delivery of 9.5 MW of PV modules to the Volkswagen Solar Park in Tennessee.
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