Green energy stocks down following Trump election win

Published On Nov 6, 2024, 12:25 PM

Following Donald Trump's election victory, green energy stocks, particularly solar companies, have seen significant declines. Enphase Energy fell by over 18%, First Solar dropped more than 12%, and Brookfield Renewable Partners decreased by over 8%. Trump's victory is expected to lead to policies that rollback green initiatives introduced by the Biden administration, causing uncertainty in the renewable energy sector. This political shift is projected to favor fossil fuels over green energy initiatives, affecting market dynamics.

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Stock Forecasts

ENPHView ENPH chart on TradingView

Negative

Trump's victory suggests a potential reduction in government support for renewable energy initiatives and a resurgence of fossil fuel interests. This shift could lead to ongoing weaknesses in green energy stocks as regulatory changes are anticipated.

FSLRView FSLR chart on TradingView

Negative

With the expected repeal or significant changes to the Inflation Reduction Act, which supported clean energy, First Solar may continue to experience pressure on its stock price as investors react to the new political landscape favoring fossil fuels.

BEPView BEP chart on TradingView

Negative

As Trump's administration might push for deregulation of fossil fuels, Brookfield Renewable Partners could face headwinds, given the lack of incentive for clean energy developments, translating to negative investor sentiment.

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