Nuclear power comes under attack; solar stocks increase

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The catastrophic earthquake and Tsunami which hit Japan last week has placed the issue of nuclear firmly in the spotlight. The disaster has also prompted many to state that renewable energy sources could receive stronger support levels.

Currently, E.ON and RWE have seen massive stock price losses, while, Conergy’s stock, for example, rose by 32 percent. At noon, the stocks were still worth more than 20 percent. Furthermore, the shares of Q-Cells and SolarWorld were up by around 15 percent. "Overall, we expect all renewable stocks to see a share price increase today," stated Götz Fischbeck, senior equity analyst for PV stocks at BHF Bank AG.

He added that "more favorable (or less tight) tariff adjustments for PV installations" could be expected in the future.

Global ban

Meanwhile, the World Council for Renewable Energy (WCRE) has called for a global ban on new nuclear power, a phase-out of current plants, and an immediate move to the usage of 100 percent of renewable energy.

In a statement, it said: "This momentous event now raises the additional spectre of an hitherto unthinkable and manmade catastrophe: a series of nuclear meltdowns – due to the entirely unnecessary reliance on nuclear power.

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