CFRA sees a number of possible catalysts on the horizon for the solar space should there be a Biden victory and “Blue Wave” this fall.
We envision a potential extension of the U.S. Investment Tax Credit (ITC), inclusion of direct pay provisions, and the return of the U.S. in the Paris Climate Accord as some of the instant changes while Biden would likely remain tough on China.
Our base case assumes that the run rate of solar installations will be more than 2.5x by the end of Biden’s first term compared to where solar demand would be in the U.S. should Trump be re-elected.
While all solar providers would benefit from a “Blue Wave” this fall, we see the biggest winners as U.S.-based FSLR, SEDG, and SPWR.
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