Climate change could be a tough problem to solve when we feel the heat of scorching sunlight. Strong sunlight may not be a pleasant thing this summer. But, it could become a money machine for some investors.
Of course, this is not the reason to drive up all solar-related stocks today:
- FSLR +6%
- ENPH +4%
- PLUG: 6%
- MPWR: 3%
Large-scale development of solar panels with the new technology to enhance its efficiency and reduce cost makes the solar industry capable of more applications. Governments, corporations, and residentials may convert traditional power to solar power.
More importantly, the widespread adoption of electric vehicles through Tesla (TSLA) and other makers creates more demand for the limited resources of power. We believe that the solar-power industry could be a profitable area to invest in for the second half of 2023 or beyond.
First Solar Inc (FSLR) is a 20 billion market cap company that is unique among the world’s ten largest solar manufacturers for being the only US-headquartered company and not manufacturing in China. First Solar’s advanced thin-film photovoltaic (PV) modules represent the next generation of solar technologies.
Technically, FSLR is just about emerging from the recent pullback within bases. So, it is not extended to consider a new position around this level for a watchlist or portfolio.
