Renesola
Ticker: SOL
"Fossil fuels are a finite resource and will become more expensive," argues Colm O'Connor, portfolio manager of the Calvert Global Alternative Energy Fund in Dublin. He therefore believes solar power has a bright future. Solar is still roughly twice as expensive as fossil fuels, but prices -- driven by huge increases in Chinese manufacturing capacity -- are dropping rapidly. O'Connor expects solar installations worldwide to grow 10% in 2011. He likes Renesola which makes silicon wafers, the heart of photovoltaic solar systems. Renesola, based in Jiashan, China, is one of the world's largest low-cost wafer makers. Its stock has a P/E of only 9, and O'Connor thinks the stock will rise from $11 to $17.
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Last updated December 20 2010: 2:49 PM ET
