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3 Solar Stocks Wall Street Predicts Will More Than Double in the Next 12 Months -Breaking

by Mike Robinson

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© Reuters 3 Solar Stocks Wall Street Predicts Will More Than Double in the Next 12 Months

In the next few months, the growth of the solar industry will be supported by tax credits, government efforts to reach net-zero carbon emission goals and increasing demand for solar panel installation. Wall Street analysts anticipate that the price of solar stocks ReneSola and SPI Energy will increase by more than a third over the next 12 month. Continue reading to find out more. According to the Solar Energy Industries Association’s (SEIA), the industry has exceeded three million installations by 2021. The residential market for solar energy also increased by 21% annually. Although supply chain constraints and rising raw material costs have negatively affected installations, the year-over-year increase in utility prices has supported the sector’s growth.

In addition, there has been an increase in solar panel installations by homeowners and businesses since the introduction of federal solar investment credit (ITC). This credits provides a 26% tax credit to systems installed between 2020-2022. Global solar energy markets are expected to grow at a rate of 20.5%, reaching $223.3 billion in 2026.

Given this backdrop, we think it could be worth adding solar stocks ReneSola Ltd (SOL), SPI Energy Co., Ltd. (SPI), and iSun, Inc. (ISUN) to one’s watchlist. Wall Street analysts predict that they will more than double their price in the next twelve month.

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