Solar panels over a Brooklyn neighborhood overlooking Manhattan.
Jeff Morganteen | CNBC
(This story is for CNBC PRO subscribers only.)
Clean energy stocks jumped on Wednesday, accelerating its strong start to the year after a record 2020, as investors watched the results of Georgia’s Senate runoff. President-elect Joe Biden has made climate a central pillar of his agenda and a possible Democrat-controlled Congress will facilitate the passage of policies that support renewable energy.
On Wednesday, the Invesco Solar ETF gained more than 8%, while the Invesco WilderHill Clean Energy ETF and the iShares Global Clean Energy ETF traded more and more up 6%.
“Investors in this space seem to be focusing on long-term scenarios more than at any time in recent years, which we believe could result in a positive increase in equities although there is likely to be little impact on short-term estimates. “JPMorgan said on Wednesday in a note to customers that the company recommended staying in the industry for a long time.