OREANDA-NEWS. January 16, 2015. Yingli Green Energy Holding Co. (YGE) sank to a 21-month low in New York as Chinese alternative-energy stocks tumbled with crude after Goldman Sachs Group Inc. and Societe Generale SA lowered their oil-price forecasts.

China’s largest solar-panel producer, dropped 2.9 percent to USD 1.99 in New York, the lowest since April 2013. Trina Solar Ltd. (TSL), the second-largest maker, slid 1.4 percent. Daqo New Energy Corp. (DQ), a producer of polysilicon, tumbled 9.3 percent.

The solar stocks fell amid a broad decline in energy companies triggered by the banks’ bearish calls on oil, which is already trading at the lowest levels since 2009. Goldman forecast that Brent crude will sell for USD 70 a barrel in 12 months, compared with a previous prediction of USD 90.

Societe Generale said it expects prices to average USD 55 a barrel this year, down from a previous estimate of USD 70.

“Unfortunately for the time being, it appears that solar prices are still intertwined with where oil prices are going,” Angelo Zino, an analyst at S&P Capital IQ, said by phone from New York. “As the multiples for overall energy-related names have compressed, that put downward pressure on other related names like solars.”

Crude’s plunge into a bear market pushed the Standard and Poor’s 500 Energy Index down 10 percent last year, its first decline since the global financial crisis in 2008. The Bloomberg Global Large Solar Index tumbled 36 percent in 2014, posting its fourth annual drop in five years.