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Although ongoing supply chain bottlenecks could affect the industry’s production slightly in the near term, rising government support should help the industry grow significantly in the long run. Investor interest in solar stocks is evident in the Invesco Solar Portfolio ETF’s (TAN) 5.7% returns over the past month, versus the SPDR S&P 500 Trust ETF’s (SPY) 3.3% gains.
However, solar stocks Sunrun Inc . (RUN), Sunnova Energy International Inc . (NYSE:NOVA), Sunworks, Inc. (SUNW), and Solar Integrated Roofing Corporation (SIRC) are expected to remain under pressure in the near term due to their weak fundamentals and overvaluations. So, we think that they are best avoided now.
