Donald Trump’s election victory sparked a solar and wind sell-off. Even as the broader market rallied to record highs on Wednesday, with stocks having their best day since 2022, investors fled renewables after America picked the “drill, baby, drill" candidate. But while many see Trump as a scourge for clean energy, some analysts believe the market has overreacted—and that quality stocks in the sector can be had at a bargain.
One reason is that, while Trump has lambasted the environmental provisions in President Biden’s Inflation Reduction Act (IRA) as the “Green New Scam," it is unlikely to repealed. This is not least because the law, which included billions in subsidies for renewables, has contributed to a clean energy boom in several red states, particularly when it comes to wind and solar projects.
