President Obama announced on Monday new actions to bring renewable energy and energy efficiency to households across the United States.
In a press release, the White House discussed the "responsible" steps it will take to address climate change, promote clean energy and energy efficiency, drive innovation, and ensure a cleaner, more stable environment.
The initiatives include:
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- Making Property-Assessed Clean Energy (PACE) financing available for single-family housing easier to invest in.
- Launching new programs to provide home owners with new tools to measure and improve the energy efficiency of their homes.
- Creating a DOD Privatized Housing Solar Challenge.
- A $24 million commitment for 11 projects in seven states to double the amount of energy existing solar panels can produce.
- Approving a transmission line to support a 485-megawatt photovoltaic facility.
- Creating an Interagency Task Force to Promote a Clean Energy Future for All Americans.
Solar Stocks Moving Higher
Solar related stocks were trading higher on Tuesday following the White House's release and also benefited from a market-wide rally.- Shares of Canadian Solar Inc. CSIQ were trading higher by 9.21 percent at $17.78 shortly before noon.
- Shares of First Solar, Inc. FSLR were trading higher by 5.43 percent at $45.98 shortly before noon.
- Shares of JinkoSolar Holding Co., Ltd. JKS were trading higher by 19.69 percent at $19.02 shortly before noon.
- Shares of Trina Solar Limited (ADR) TSL were trading higher by 15.48 percent at $8.95 shortly before noon.
- Shares of SunPower Corporation SPWR were trading higher by 5.58 percent at $23.55 shortly before noon.
- Shares of SolarCity Corp SCTY were trading higher by 4.33 percent at $45.77 shortly before noon.
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