3 Clean Energy Stocks That Could Thrive Under Trump
Clean energy investors have endured yet another torrid year as traders continue shunning the alternative energy sector. The solar sector, in particular, highlights the negative sentiment pervading renewable energy investing: According to a recent report by the Solar Energy Industries Association (SEIA), the U.S. is on track to add close to 40 gigawatts of solar energy capacity in 2024–more than double last year’s tally and more than triple what was added in 2022. The solar sector is clearly booming, yet solar stocks have badly underperformed, with the sector’s popular benchmark, Invesco Solar ETF (NYSEARCA:TAN), having returned -35.3% YTD vs. 24.3% by the S&P 500.
The upcoming Trump presidency is considered bearish for renewable energy investing. For years, Trump has never hidden his disdain for clean energy, repeatedly lambasting Biden’s historic Inflation Reduction Act (IRA), describing it as the “biggest tax hike in history”. Trump has pledged to rescind any “unspent” funds under the IRA after he ascends to the Oval Office.
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However, there are some pockets within the renewable energy universe that are looking quite promising. Here are 3 renewable energy stocks that outperformed in the current year and could do it again in 2025.
Eco Wave Power (NASDAQ:WAVE)