Solar panels above a Brooklyn neighborhood overlooking Manhattan.
Jeff Morganteen | CNBC
(This story is for CNBC PRO for subscribers only.)
Clean energy stocks rose on Wednesday, accelerating a strong start to the year after a record high in 2020, while investors watched the results of Georgia’s Senate downturn. President-elect Joe Biden has made climate a central pillar of his agenda, and a possible Democrat-controlled Congress would make it easier to adopt policies that support renewable energy sources.
The Invesco Solar ETF gained more than 8% on Wednesday, while the Invesco WilderHill Clean Energy ETF and the iShares Global Clean Energy ETF each traded more than 6%.
“Investors in this area appear to be focusing on long-term scenarios more than at any time in recent years, which we believe could result in further stock growth, despite the likely low impact on long-term estimates. short, “JPMorgan said Wednesday in a note to customers recommending the company stay in the industry for a long time.