Solar panels over a Brooklyn neighborhood overlooking Manhattan.
Jeff Morganteen | CNBC
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Clean energy stocks skyrocketed on Wednesday, accelerating their strong start to the year after a record year 2020, as investors watched the results of the Senate run-offs in Georgia. President-elect Joe Biden has made climate a central pillar of his agenda, and a possible Democrat-controlled congress would make it easier to pass 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 were each more than 6% higher.
“Investors in this sector appear more focused than ever in recent years on longer-term scenarios, which we believe could result in further stock gains despite the likely minor impact on short-term forecasts,” said JPMorgan Wednesday. in a note to customers recommending the company to stay in the industry for a long time.