Why Renewable Energy Stocks Got Crushed Today
The world of renewable energy was blindsided today by proposed rules for residential solar in California. Net metering is being changed, which isn't a surprise, but the rules may make it hard for anything but the most expensive rooftop solar projects to be economical.
Solar energy stocks were hurt the most, with Enphase Energy (NASDAQ: ENPH) dropping as much as 9.1% and SunPower (NASDAQ: SPWR) falling 11.9%. The two stocks were down 6% and 11.6% respectively at 2:55 p.m. ET. Bloom Energy (NYSE: BE), which makes fuel cells for commercial buildings, was also down as much as 7.2% today.
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Source Fool.com
