Residential solar stocks popped this week after some good news out of California. 🌞
The state originally proposed a plan that made rooftop solar power more expensive. And its new plan still will, just not as much as investors expected. This is important because California is the top state for solar in the country. Roughly 1.5 million residential installations have a roughly 12 gigawatts power generation capacity.
Barron’s has a solid outline of the key facts. But what investors need to know is that analysts say this proposal was a significantly better outcome for the industry than its previous iteration.
The news put a tailwind behind solar stocks, with $TAN shares rising 10% this week. This sector will likely remain on people’s radars as the world searches for additional energy sources. 👀
