Solar energy stocks have been consolidating over recent months, potentially providing a value opportunity for market participants looking to allocate new capital to names like Canadian Solar Inc. (NASDAQ:CSIQ), Solaredge Technologies Inc (NASDAQ:SEDG), Green Stream Holdings Inc (OTCMKTS:GSFI), ReneSola Ltd. (NYSE:SOL), SunPower Corporation (NASDAQ:SPWR), Sunrun Inc (NASDAQ:RUN), Array Technologies Inc (NASDAQ:ARRY), and JinkoSolar Holding Co., Ltd (NYSE:JKS).
The solar energy industry had a breakout year in 2020 in the developed world, setting new records for expansion in places like the US market, despite the carnage of the pandemic recession.
That’s an important data point because it suggests the growing tide of capital flowing into the space is robust and unwavering, and independent of the short-term debt cycle or the business cycle. In other words, it isn’t slowing down even when people are at their least speculative up and down the funding chain.