Last week on July 15, Senator Joe Manchin reportedly told Democrats he would not support new climate
spending. The economic package that includes this and tax increases is a blow to solar energy stocks.
Enphase (ENPH), First Solar (FSLR), SunPower (SPWR), and Array (ARRY) are notable decliners.Manchin’s lack of support is necessary. The package would further stimulate the economy, accelerating
demand. This will increase inflation, contradicting the Federal Reserve’s policies. The Fed must increase
rates by at least 75 basis points to slow inflation.The lack of support hurts climate-friendly initiatives. Solar panels are a good…