Energy

Cashing $1.7 trillion into green energy will raise solar stocks in the stock market

The transition to clean energy seems to stir up the rise in solar stocks. Solar companies listed on the stocks market like Solar Invesco ETF have seen a rising uptake of its shares, catapulting the acceptance of renewables in the market. The overwhelming support for Biden seems to route from his advice on shifting to renewable energy. Scientifically, Biden appears to be winning the presidential elections because of his stand on controversial matters like clean energy investment. Biden revealed his plan to push for the transition to renewable energy aggressively.

Biden proposed the stashing into the green energy of $1.7 trillion to motivate the private sector to invest in it. Additionally, Biden proposed the relational replacement of the tax incentives on fossil fuels to the renewables to facilitate their uptake.

The following solar stocks have displayed a positive and could continue to rise if Biden enters the president’s office. First, we have Enphase Energy Inc., Which develops home energy storage products and software-based household energy solutions that utilize solar energy. The company reported an increase in net profit, with the values growing drastically in the pandemic season. This rise is also attributable to the collaboration with Sonnenstromfabrik, a developer of solar modules.

Next is SolarEdge Technologies Inc., a developer of solar inverters, power optimization equipment, and solar photovoltaics. The company has witnessed growth over its previous seven consecutive quarters. Although the sales went down in the pandemic period, they are slowly escalating.

Sunrun Inc. Also recorded a substantial growth in its solar sales. Although the company went to its lowest in March, the current sales reveal a 770% growth in its sales values. Investors are hopeful that this rise does not eventually come with a massive drop.

Elsewhere, NextEra Energy Inc., the world’s leading producer of wind and solar energy, reported that its potential supply had crossed 45900 megawatts. The company currently boasts of its capacity to supply over five million households with renewable electricity. The company has acquired various small renewable energy suppliers to boost its utility and the number of services it provides. The company’s dividend rates are operating at 15%, a value that shows the company is fairing well.

Finally, Invesco Solar ETF recorded a high sales value after diversifying the services it offers in the solar range. The company can supply solar products and provide raw materials for other companies to process into products. This service gives it an added advantage to compete in the stock market. 

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