Solar stocks drop as uncertainties with U.S election results shatter prospects for better solar policies

Solar stocks were having a good year prior to Wednesday, in part because polls showed Democrats well-positioned ahead of the election.

What Happened?

First Solar, a manufacturer of solar panels, dropped 8.6 percent, while home solar provider SunPower fell 2.8 percent.

JinkoSolar dropped 12 percent, and Enphase Energy fell as much as 10.7 percent.

SunRun, a provider of residential solar, closed flat after declining earlier, and fuel cell maker Plug Power slipped 2 percent.

What Comes Next.

Politics and elections may be able to drive solar stocks higher or lower in the short term, but it’s the fundamental performance of the industry that will determine the trajectory of these stocks long term.

Currently, that trajectory is pointing to more growth, better profitability, and more market share versus fossil fuels, no matter what the political landscape looks like.

That’s what investors should be looking at when considering solar stocks, which continue to have a bright future.

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