Darkness Clouds The Solar Sector, But History Says 2024 Could Be a Turning Point

The renewable sector caught an early solar eclipse last week (and it isn’t even Apr. 8, 2024, yet). Last Thursday, SolarEdge Technologies (NASDAQ:SEDG) gave a dire warning for the solar industry, saying it experienced “substantial unexpected cancellations and pushouts of existing backlog” in Europe (Barron’s). With inventory piling, the solar panel parts supplier gave third-quarter…

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The residential solar industry forecasts a record 2022

The U.S. is expected to install a record amount of residential solar panels this year — driven by rising electricity prices and the recently signed landmark climate bill. What’s the big deal? Payback periods on solar panels have varied over the years with fluctuating electricity prices and an inconsistent availability of tax credits. The bill…

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Does the Invesco Solar ETF shine bright with the $370B climate bill?

This week, President Biden signed the landmark $750 billion Inflation Reduction Act — which includes $370B for clean energy with a major solar focus: A 30% tax credit for 7.5 million families to install solar on their roofs. A commitment of 950 million solar panels by 2030. Solar’s big break: In 2013, solar stocks had…

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Enphase Energy outperforms in 2022 on the back of strong Europe demand

Enphase Energy (NASDAQ:ENPH) — the supplier of solar and battery storage parts — jumped 18% after reporting strong earnings. What’s the big deal? Rising natural gas prices in Europe accelerated the use of solar and other renewable energy — leading to a jump in Europe sales by 69% compared to the last quarter. Enphase has…

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Biden energizes the solar industry

The solar industry has made a strong recovery from May’s bottom with several solar stocks posting 40-60% gains over the past few weeks. Yesterday, Biden energized the solar industry with big announcements… How it started: In 2018, Trump implemented tariffs on solar imports to make U.S. solar production more competitive. The tariffs had a big…

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