ReneSola closed up 38 pence to 267 today after the manufacturer of solar wafers for the photovoltaic industry disclosed a significant uplift to its planned 2007 production capacity expansion.

Last year, the solar sector as a group outperformed the NASDAQ by more than hundredfold, increasing in average value by 134%. As we near the end of 2006, however, the solar stock performance data is anything but bright. In fact, the average loss through the first three quarters is – 11.98%, while the average gain from the leading US Indexes was up + 6.13%, according to independent Wall Street analyst Peter Lynch.

Solar PV industry revenues in 2005 were up 50% and profits up 149% compared to 2004, according to Photon Consulting. (Figures for 2006 are not yet available.) Photon projects total global new solar capacity to be 2,400 MW in 2006 with an average global module price of $4.50 per watt and an average installation price of $7.93 per watt.