“The storage technology also eliminates the need for any backup fossil fuels, such as natural gas, which are needed in other applications to keep the system going during times of either no or low sunshine,” Moors said.
Storing solar power is so important, because it allows utility companies to power homes and businesses any time of the day or night, instead of only when the sun is shining. That prevents waste and keeps costs down.
While conventional solar power is closer than ever, Moors cautions investors from thinking that oil and natural gas will be big losers due to solar power’s rise in 2014. That said, the prospects of solar power reaching grid parity are much stronger now than ever before.
These developments mean one thing for investors: There are solar stocks to buy now that are about to soar. Many of the best investments can be found in developing Asian economies.
Here’s a look at three setting up to be big long-term solar winners…
Solar Power Stocks to Buy
Solar Stocks to Buy: Trina Solar Ltd. (NYSE ADR: TSL) is a Chinese manufacturer of PV modules that sells and markets its products in Europe, North American, and Asia. The company sells its products to distributors, wholesalers, power plant developers, and operators. It focuses on PV modules that range from 215 watts to 240 watts in power, as well as smaller modules with a 165- to 185-watt range. The company currently has long-term contracts with leading suppliers throughout Europe.
Currently, analysts are projecting TSL to report earnings of $0.03 per share in its Q1 earnings report, which is up from a loss of $0.90 in 2013’s first quarter. Currently, Zacks Investment Research gives TSL a #1 ranking (Strong Buy), which is the company’s highest ranking.
TSL stock has gained 128% in the last 12 months and is trading at $10.67 per share.