With President Biden declaring a ban on Russian oil and gas imports and the U.K. announcing a similar measure, an existing energy supply crunch might worsen further, increasing energy prices. This paves the way for a potential upturn by the solar industry. Investors’ interest in this sector is evident in the Invesco Solar ETF’s (TAN) 15% returns over the past month.
Furthermore, the industry is expected to achieve solid growth with the rising focus on sustainable energy to address climate change concerns. Supportive federal policies are also predicted to drive the industry’s momentum.
