First Solar Leading Solar Stock Rally

After a rough start to the week, it looks like solar stocks are coming on strong, perhaps driven by good news about 2008’s growth, as well as a rumour that First Solar might be added to the S&P 500.

Today, the Solar Energy Industries Association reported that solar capacity grew by 17% in 2008, which is good (but old) news. The president of the group also said that solar wasn’t immune to the downturn–which is also old news. Solar companies have been turning in crappy quarters left and right lately.

It doesn’t seem to matter today. First Solar (FSLR) is up $5 at this point, Solar ETF TAN is up 7% and SunPower (SPWRA) and JA Solar (JASO) are both up 10%.

The pop could be driven by a rumour we heard on Fast Money last night that First Solar might be added to the S&P 500.

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