Solar Stocks Shine After Year-Long Slump With Notable Gains
Solar Stocks Experience Remarkable Gains
Solar stocks shine after year-long slump, particularly in the premarket as SunRun, First Solar, and Enphase Energy witness impressive gains of around 4% to 5%. This positive movement follows a heated debate on Tuesday night featuring Vice President Kamala Harris, where she was believed to have outperformed former President Donald Trump.
Challenges Facing the Solar Sector
The solar sector has faced significant challenges throughout the year, with the Invesco Solar ETF plummeting by 29%, marking a new 52-week low on Tuesday. The ongoing struggle raises questions about future policies and their impacts.
Potential Policy Impacts
- The uncertainty surrounding Trump's potential presidency might pose risks to clean energy investments under the Inflation Reduction Act.
- Despite challenges, analysts from RBC Capital Markets emphasize that 88% of clean energy investment occurs in Republican districts.
- Trump's proposed tariffs could inadvertently support price stability in the solar market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.