Data presented by Trading Platforms indicates that four leading solar energy stocks have recorded an average ROI of 135.2% over the last six months. The ROI was recorded between July 27, 2020, and January 27, 2021.
Policy changes positively impact solar energy stocks
Jinko Solar Holding has the highest ROI at 264.12%. Canadian Solar registered the second-highest returns of 138.21% followed by First Solar which has an ROI of 72.55%. SolarEdge Technologies has recorded an ROI of 65.95%.
The Trading Platforms research highlights some of the reasons behind the stock’s surge in value over the last six months.
According to the research report: “The solar energy stocks have been boosted in the recent months following the election of Joe Biden as the 46th President of the United States, mainly to his administration’s support for clean energy. Since assuming office, Biden has issued executive orders for the U.S. to rejoin the Paris Agreement after his predecessor, Donald Trump, withdrew America from the agreement that calls on countries to scale up renewable energy.”
Besides regulatory boosters for the solar energy sectors, the research adds that: “Over the last sixth month, the solar energy sector has also received a boost from corporates turning to green energy. Corporate America seeks to increase investment in solar energy as a means of cutting operational costs, and have a more predictable electricity cost in the long term. Currently, Apple, Amazon, and Walmart are among the big-name companies leading the charge towards solar energy. Companies are now focusing more on commercial solar deployments.”