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However, Senator Joe Manchin III has recently shown his opposition to the social spending and climate change bill (designed to eliminate coal and natural gas), sharing concerns over certain provisions of the massive tax and spending bill and how it may exacerbate soaring inflation in the country. Manchin’s vote is crucial in passing the climate change bill in the 50-50 Senate. Besides, the ongoing supply chain constraints and rising prices are expected to act as major headwinds for solar companies.
Given this backdrop, fundamentally weak solar stocks Enphase Energy, Inc. (ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), First Solar, Inc. (FSLR), and Sunrun Inc . (RUN) are best avoided now.
