With lawmakers reaching agreement on the debt ceiling, one of the winners in the negotiations could be wind and solar energy.
The debt ceiling agreement paves the way for the building of interstate transmission lines which is key to Biden’s infrastructure agenda. Specifically, it would ease the permitting process for transmission lines that would carry clean energy across the country. Once completed, a network of transmission could deliver a steady stream of clean energy from remote rural areas to densely populated urban areas.
With Green Energy projects getting green-lighted nationwide, it could be a boon for solar energy companies. Here’s a list of a few companies in play:
First Solar, Inc. (FSLR) – Since May 5, 2023 FSLR has moved up impressively from $171 to $231 per share.
Canadian Solar (CSIQ) – This stock has also made an impressive run from $35 to a high of $45 since May 16
SolarEdge Technologies, Inc. (SEDG) ran up from $260 to a high of $306 since May 3.
First Solar Daily Chart (courtesy of Tradingview)
As the debt ceiling debates moves behind us, we’ll be keeping an eye on renewable energy projects. Stay tuned.
