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Why Solar Energy Stocks Popped Double Digits in December

Travis Hoium, The Motley Fool
·2-min read
Why Solar Energy Stocks Popped Double Digits in December

Shares of solar energy stocks jumped last month as investors saw some bullish moves from a subsidy perspective and the incoming presidential administration. According to data provided by S&P Global Market Intelligence, Enphase Energy (NASDAQ: ENPH) jumped 28.5% in December, Canadian Solar (NASDAQ: CSIQ) was up 19.8%, and Maxeon Solar Technologies (NASDAQ: MAXN) rose 16.2% last month. The biggest news of the month was a two-year extension of the solar investment tax credit at 26%, which is where the credit was in 2020 before an expected step-down to 22% in 2021.

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