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Furthermore, with the introduction of the federal solar investment tax credit (ITC), which provides a 26% tax credit for systems installed in 2020-2022, more homeowners and commercial sectors have been installing solar panels. The global solar energy market is projected to reach $223.3 billion by 2026, achieving a 20.5% CAGR.
Given this backdrop, we think it could be worth adding solar stocks ReneSola Ltd (SOL), SPI Energy Co., Ltd. (SPI), and iSun, Inc. (ISUN) to one’s watchlist. Wall Street analysts expect them to more than double in price over the next 12 months.
