Welcome to ES!
User Login 中文 日本語
SNEC ES﹢
login-icon

Solar stocks plummet, market is ‘wildly emotional’ about Trump

Source：pv-magazine

Solar stocks plunged in the trading day following Donald Trump’s re-election as US president.

The Invesco Solar ETF (TAN) fell 11%, while major US manufacturer First Solar dropped 12%. Inverter makers Enphase and SolarEdge each declined about 19%, residential solar installer Sunrun was down 26%, and competitor Sunnova fell more than 50%.

Utility-scale solar tracker manufacturer Nextracker fell about 6.5%, while its competitor, Array Technologies, dropped nearly 20%. The solar stock market has broadly continued to slide in the wake of the 2024 election result.

John Berger, chairman, president and chief executive officer of residential solar and battery energy storage provider Sunnova, joined CNBC for “Closing Bell Overtime” to discuss the market fallout, which he believes is divorced from reality.

“The market is out of control in the sense of wildly emotional, lot of speculation,” said Berger.

Sunnova went public under the first Trump administration and hit a share price all-time high of $54 a share during that administration. Since then, high interest rates and regulatory challenges have slowed growth, but the steady rise in electricity prices and increasing electricity demand keep the fundamentals of residential solar strong.

 

Declaration: The content quoted and reproduced from other organizations and websites is intended to convey more information rather than for profit. It does not represent endorsement of their views or verification of their descriptions; the content is for reference only. Copyright belongs to the original authors. If there is any infringement, please contact us for removal.