Analyst: Forget Oil Prices -- Go Solar

Wednesday, 11 Apr 2007 | 12:34 PM ET

Corn ethanol is all the rage, but one analyst says solar energy has been wildly undervalued. Signal Hill's Michael Carboy joined "Squawk on the Street" to explain why sun power will be this decade's next big thing.

Carboy told CNBC's Erin Burnett that oil prices "do not drive the solar story." He maintains that if crude stays stable or even if it drops, the solar industry is likely to grow at a 40% compound average rate between now and 2010.

Solar Fuel
Discussing whether solar power is the fuel of the future, with Michael Carboy, Signal Hill analyst, and CNBC's Erin Burnett

When CNBC's Mark Haines said "no one" has been able to produce a cost-effective solar photovoltaic cell, the analyst countered that factoring in federal and California state subsidies gives grid parity at peak pricing in the Golden State.

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  • Carl Quintanilla is an Emmy-winning reporter and co-anchor of CNBC's "Squawk on the Street," broadcast live from the NYSE.

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