Sun’s Back out for Solar Stocks
The sun is a fairly consistent performer, and the wind. We were winning the fight for renewables prior to coronavirus, going up against countries sitting on carbon mineral rights. The eco-industries were just hitting their stride!
The materials we needed were getting more efficient and cheaper, and we were producing them with economies of scale for first the first time. There are some brilliant minds on the job, but those you wouldn’t expect are keeping solar and wind going in lockdown!
The newly unemployed, especially gig workers abandoning ride-hailing and food delivery, are heading to solar. The masses are learning how to flip residential rooftop installations online; sales work. Sunnova’s stock is up 43% this year as double last year’s members get on board the program. May’s installations have “accelerated substantially!”
The CEO, John Berger, says, “we’re getting back to the trend line—we’re still showing growth year-over-year. I think we’ll get back to that,” and so does the International Renewable Energy Agency (‘Irena’). Photovoltaic power is 82% cheaper than ten years ago, meaning solar could soon be less expensive than coal. Is this the final nail in the carbon coffin?
Investors can step up from anywhere to help; it doesn’t have to be sunny California. The index fund is a useful portfolio placeholder for investors on the sidelines. It costs nothing to buy the fossil-fuel-free version, and it probably performs better. The Invstr community is short coal and long renewables. Now the trade is playing out!