Many investors withdrew from solar energy last year, hitting the industry pretty hard. First Solar Inc. (FSLR:NASDAQ) is expected to report third quarter earnings later this month. Its stock has fallen 2% since the start of the year, closing yesterday at $152.76.
However, the company’s future outlook is not that dark. First Solar was added to the S&P 500 Index after the market closed yesterday. It is the first renewable energy company to be added to the index.
Growth of the alternative energy market depends on the health of the U.S. economy, the price of natural gas and demand for electricity. Renewable energy only provides 7% of the energy used in the U.S., a fraction of the power fossil fuels provide.
Despite this, alternative energy has become a popular investment for businesses and governments hoping to curb pollution. Many analysts expect the stock market to turn around in 2010, which could mean good news for this industry.
To learn more about this alternative energy investment, read Sandy Shore’s article.
