Solar panels over a Brooklyn neighborhood overlooking Manhattan.
Jeff Morganteen | CNBC
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Clean energy stocks jumped on Wednesday, accelerating the strong start to the year after a record-setting 2020, as investors watched the results of the Senate run-off in Georgia. Elected President Joe Biden has made climate a central pillar of his agenda, and a possible Democratic-controlled Congress will make it easier to adopt policies that support renewable energy.
The Invesco Solar ETF gained more than 8% on Wednesday, while the Invesco WilderHill Clean Energy ETF and iShares Global Clean Energy ETF each traded more than 6% higher.
“Investors in this space appear to be more focused on long-term scenarios than at any stage over the past few years, which we believe could lead to a further rise in equities despite the possible little impact on short-term estimates,” “JPMorgan said on Wednesday. in a note to clients in which the firm recommends staying in the sector for a long time.