As Vice President Kamala Harris‘ odds improve ahead of the 2024 presidential election, observers expect a promising rebound in the U.S. residential solar market.
The Invesco Solar ETF (NYSE:TAN), a barometer of the solar energy market, gained over 3% in pre-market trading, following the consensus that Harris won Tuesday’s debate against Republican nominee Donald Trump.
Roughly 27.67% of the TAN portfolio is comprised of three stocks: Enphase Energy Inc (NASDAQ:ENPH), SolarEdge Technologies Inc (NASDAQ:SEDG), and Sunrun Inc (NASDAQ:RUN).
Invesco Solar is down 28.94% for the past year, and about 24% year-to-date. But demand is improving, with industry leaders expecting double-digit growth by 2025.
Solar Stocks Rise On Kamala Harris’ Winning Odds
Under the Biden administration, U.S. oil production rose to new all-time highs. Clean energy stocks also thrived, partially due to the Inflation Reduction Act, which provides crucial tax credits …
