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Reuters Reuters
1 January, 2021, 6:14 am
FILE PHOTO: Arrays of photovoltaic solar panels are seen at the Tenaska Imperial Solar Energy Center South as the spread of the coronavirus disease (COVID-19) continues in this aerial photo taken over El Centro, California, U.S., May 29, 2020. REUTERS/Bing Guan
(Reuters) – Solar stocks dazzled in 2020 and looked set to wrap up a year ravaged by the COVID-19 pandemic with triple-digit gains amid a shift in focus to ‘clean energy’ as the outbreak decimated the global oil industry.
Giving the rally a leg up was Joe Biden’s victory in the November U.S. presidential election, along with the coronavirus aid and funding bill that extended solar tax credits by two years.
Shariq Khan, Reuters Your browser does not support the audio element.
Solar stocks dazzled in 2020 and looked set to wrap up a year ravaged by the COVID-19 pandemic with triple-digit gains amid a shift in focus to clean energy as the outbreak decimated the global oil industry.
Giving the rally a leg up was Joe Biden s victory in the November U.S. presidential election, along with the coronavirus aid and funding bill that extended solar tax credits by two years.
The credits have helped reduce the cost of solar projects, and the extension pushed shares of solar equipment makers Enphase Energy Inc., ReneSola Ltd. and Canadian Solar Inc., among others, to record or multiyear highs.
BW Businessworld
Sizzling Hot: Solar Stocks Set To End Pandemic Year At Record Highs
The coming years could be even better for the U.S. solar industry, and industry research firm IBISWorld estimates total revenue could cross $19.4 billion in 2026, more than double this year s $8.23 billion.
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Solar stocks dazzled in 2020 and looked set to wrap up a year ravaged by the COVID-19 pandemic with triple-digit gains amid a shift in focus to clean energy as the outbreak decimated the global oil industry.
Giving the rally a leg up was Joe Biden s victory in the November U.S. presidential election, along with the coronavirus aid and funding bill that extended solar tax credits by two years.
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