Good evening -We know that renewable energy is a polarizing topic. But the recent Inflation Reduction Act that passed the United States Congress has an undeniable implication.
The United States is aggressively moving toward renewable energy. And it has the full backing of the Biden administration.
This means that investors need to put their personal feelings about the energy sector aside when deciding on where to invest their money. Billions of dollars are flowing into the renewable energy sector, and solar stocks will be major beneficiaries.
One sector that stands to benefit the most is the solar sector.
Several research firms forecast that the solar market will grow at a compound annual growth rate (CAGR) of more than 20% over the next five years. And Fortune Business Insights estimates that the global market will be worth $1 trillion at the end of 2028.
But this is only continuing a trend that has been in place since 2021. Solar is one of the fastest-growing sectors in the stock market. And the bullish outlook for this sector is about more than the funding the industry will receive. The Biden administration announced in June that it was suspending tariffs on solar panel components from four countries. This will be a key step in helping to untangle the supply chain for the necessary components.
This two-pronged strategy will be key to the sector achieving the Biden administration’s goal of having 45% of the nation’s energy supply coming from solar by 2050. That’s up from the 4% the sector supplied in 2020.
In this presentation, we’re highlighting seven solar stocks that stand to benefit as solar becomes an increasingly cost-effective option for consumers and for businesses.
View the 5 Solar Stocks Leading the Clean Energy Boom