Originally published December 7 2005
New solar stock performs well because of heightened interest in solar power cells
by Mike Adams, the Health Ranger, NaturalNews Editor
Business experts are paying close attention to the performance of stock newly offered by SunPower, a company that manufactures solar cells, after stock rose 41 percent from the opening price of $18 a share to $25.45 a share, suggesting a renewed interest in investing in solar power.
SunPower, a Sunnyvale maker of solar power cells, saw its stock rise 41 percent from the opening price of $18 a share to $25.45 a share at the market close.
The company is a spin-off from Cypress Semiconductor in San Jose.
Arnold Schwarzenneger praised the company's solar cells while on a trip to China.
John White, executive director of the interest group Center for Energy Efficiency and Renewable Technology, said it's a good time to invest in solar power.
That's because California is following the lead of countries such as Japan and Germany in offering incentives to residents and businesses to convert to cleaner, money-saving solar energy.
The state of California offers rebates to residents and businesses who install solar power, but the program is running low on funds and has to be renewed.
Last year, revenue from solar cells and the modules that house them grew 67 percent to $3.4 billion, according to market researcher Strategies Unlimited.
SunPower itself was founded in 1988 by Richard Swanson, who had been a classmate of Cypress Semiconductor Chief Executive T.J. Rodgers.
After years of refining SunPower's cell technology and encouraging the adoption of solar power, Swanson was two weeks from laying off half his company when he caught the ear of Rodgers in 2001.
Those pyramids, about one-one-hundredth the width of a human hair, can trap light and convert it into electricity.
For consumers, installing solar cells atop a typical home could cost about $16,000, taking into account tax incentives that reduce the overall cost.
That means it might take about six to 12 years to see a return on the investment, said Barry Cinnamon, president of Akeena Solar, a Los Gatos company that installs solar systems in homes and business.
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