Solar stocks are sliding amid policy moves in the opposite direction. Wall Street analysts say buy these names
Tim McKibben, left, solar company senior installer, Sunrun, and installer Aaron Newsom install rooftop solar panels in Granada Hills.
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Solar stocks fell on Monday after the fate of the Build Back Better plan, which includes billions of dollars for clean energy initiatives, has throw in the question as West Virginia Senator Joe Manchin said he could not vote in favor of the bill.
The Invesco Solar ETF down 6% in the context of a sharp decline in the industry as a whole. Sunrun down about 11.5% at the low of the day, while SunPower and Sunnova down more than 7%. Enphase and SolarEdge both trade lower. By 11:20 a.m. on Wall Street, however, the team had recovered some of those losses, with Sunrun ultimately down more than 5%.
But some Wall Street analysts believe the Build Back Better uncertainty is already reflected in solar stocks and point to some stocks looking particularly attractive after the drop.
