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This Solar Gem Shines the Brightest...

If you’re looking to invest in a green company, look no further: SunPower (SPWR) gapped up 28% last week on ridiculously high volume and is on of the best solar stock to buy now.

So what sent investors sprinting to buy shares? Well, on Thursday, SunPower announced its role in a large 800-megawatt solar project from Pacific Gas & Electric (PGE)—the first major utility-scale solar electricity contract in U.S. history! The day after the big announcement, SPWR’s shares soared 20%!

An analyst from Merrill Lynch upgraded SPWR from “neutral” to “buy” after gauging investors’ response to this undertaking.

SunPower's CEO Tom Werner said the deal represents 20 years of the solar cell business coming together in a solar power plant that's on the scale of a traditional power plant.

This is fantastic news, and I expect this project will have a positive impact on SPWR's earnings over the next few quarters.

Just last month, SunPower contracted a deal to build two solar plants in Florida for utility Florida Power and Light (FPL). These recent contracts indicate the significant progress solar power has made in entering the U.S. utility market.

Although solar’s immediate future is uncertain, the industry has grown over 40% in the last five years and I expect it to keep growing. As solar energy continues to dominate the renewable energy scene, SunPower will rise up along with it because the company’s technology and efficient business operations make it an industry leader—and one of the best solar stocks to buy now!

SPWR reported stellar second quarter earnings, with revenues up 120% year-over-year! Thanks to the company’s solid results, my Blue Chip Growth subscribers are set to cash in as SPWR breaks out and shares move to new heights. You see, SPWR is just one of the stocks on our Buy List. It sure was fun watching SPWR jump 28% last week! And better yet, it wasn't our only energy stock on the rise.

It’s not too late for you to get in on this solar power action—sign up for Blue Chip Growth today (100% risk-free) and see for yourself how to ride this energy trend all the way to the top!

Randy S., 08.25.08:

Grampa Mike, 08.20.08: