Are solar energy stocks a good investment in 2023?

To skip the detailed overview of the solar industry, go directly to the 5 Most Promising Solar Stocks According to Analysts. Solar energy stocks took a beating in 2023. Global X Solar ETF (RAYS) and Invesco Solar ETF (TAN) are down 41.38% and 29.83% for the year, respectively.

Are solar stocks a 'up-and-coming' stock?

Not every stock on this list will meet the definition of “up-and-coming.” However, with the sector down so much this year, even established solar companies are seeing a downturn in their stocks. The clean energy transition may still have decades to go, but it’s not going away. Here are seven companies that look like future solar stock winners.

Why are solar energy stocks growing?

The industry's technological advancements and decreasing production costs make solar energy increasingly competitive against conventional energy sources. In addition, government incentives, supportive policies and increasing consumer demand for sustainable energy further drive the growth prospects of solar energy stocks.

Are solar energy stocks a good investment?

Top solar energy stocks to watch Global energy demand is growing, but so is the reluctance to invest in energy sources that damage the environment and contribute to climate change. This is why investment has grown in areas of sustainable energy, such as solar, wind, hydroelectricity and tidal.

Why are solar stocks a bearish investment?

The high-interest rate environment made a bearish case for solar stocks throughout the year due to a demand drop among retail customers. Moreover, California’s Net Energy Metering 3.0 policy has reduced incentives for rooftop solar owners drastically.

Are US solar companies poised to increase market share next year?

Citi analysts also recently noted the global solar space is dominated by equipment manufactured in China, but US companies are poised to increase market share next year.