The solar stock index fell 37.3% in 2016.

The PHOTON photovoltaic stock index PPVX tracks 30 stocks listed on public markets in different countries. At least 50% of sales of listed companies had to come the previous year from PV products or services. The stocks are weighted by market capitalization and are a cross section of both developers and equipment vendors. The 30 companies tracked include Canadian Solar, Sunrun, First Solar, Jinko, Scatec Solar, SunPower, Trina and three US yield cos: TerraForm Global, TerraForm Power and 8point3 Energy Partners.

The index has gained 242% since the start of 2003. PHOTON started tracking solar stocks in August 2001.