Solar companies and other main players in the solar industry have witnessed significant price increases over the last three months. New US President Joe Biden is expected to provide incentives for green energy under the new US administration. Solar energy solutions provider SunPower Corp. (NASDAQ: SPWR) and inverter manufacturer Enphase Energy, Inc. (NASDAQ: ENPH) are two possible beneficiaries.
While running for office, Joe Biden said he would spend $2 trillion on climate change. This is a great deal, most of which can be obtained by clean energy producers.
For example, SunPower (SPWR) is a supplier of solar panels and develops solar power plants, including those with batteries for uninterrupted power supplies during periods of high demand or low output. During the quarter, shares of SPWR rose by 113.3%.
The stock price of ENPH increased 73.8% during the quarter. Enphase (ENPH) products, which produce micro inverters for solar panels, should also see an increase in demand. The household’s electrical network would be supplied with the required voltage immediately through an inverter installed directly onto the panels. Installing solar energy plants is simplified. Installation is usually half the total cost, so Enphase solutions are ideal for small home systems.
SunPower (SPWR) and Enphase (ENPH) have developed an inverter together, sold by Maxeon Solar Technologies, a SunPower subsidiary. Based on the Enphase IQ 7 microinverter, this inverter is designed for high-efficiency solar panels like Maxeon.