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Consider These 4 Solar Stocks That Surged More Than 35% in October -Breaking

by Mike Robinson

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© Reuters. Take a look at these 4 solar stocks that soared more than 35% in October

Due to the changing global climatic and declining costs of solar systems, there is a significant increase in the market for solar energy. We believe it is a good idea to now buy shares in quality solar stocks Enphase Energy, SunPower (NASDAQ;), Sunnova Energy(NOVA) and ReneSola. These stocks have seen significant price increases in October. Read on.Since governments worldwide have been taking several steps to transition their nations to a renewable energy-based future, it’s no surprise that solar energy has been at the forefront of the revolution, given its relatively lower storage costs. Investors’ optimism about the solar industry’s growth prospects is evidenced by the Invesco Solar ETF’s (TAN) 23.5% gains over the past month compared to SPDR S&P 500 Trust ETF’s (SPY) 6.8% returns.

The Solar Energy Industries Association (SEIA), meanwhile, recently launched its unique DEIJ Certification Program. This program provides training and support to companies in order to evaluate their DEIJ practices. This is expected to support the industry’s growth. By 2025, the U.S. market for solar energy is projected to reach $22.9 billion. The US’s small-scale solar energy capacity system is expected to expand by 5,8 GW and 7,8 GW respectively in 2021-2022.

This backdrop suggests that it might be a good idea to take positions in solar stocks Enphase Energy, Inc., SunPower Corporation, and/or SPWR. Sunnova Energy International Inc . (NYSE:) and ReneSola Ltd. (SOL), whose price increased by more than 35% last month.

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