The recently passed Inflation Reduction Act (IRA) is expected to be a game changer for the solar and other renewable energy sectors. The IRA includes investments of $369 billion toward climate and clean energy initiatives. The Act is highly beneficial for U.S. solar companies as it includes tax credits and other incentives that will boost the adoption of solar energy solutions and encourage domestic manufacturing of components. Here, we will discuss the prospects of three solar companies – First Solar (NASDAQ:FSLR), SolarEdge (NASDAQ:SEDG), and Sunrun (NASDAQ:RUN). Using the TipRanks Stock Comparison tool, we’ll pick the solar stock that Wall Street is most optimistic about.
First Solar (FSLR) Stock
Shares of First Solar, a U.S.-based manufacturer of solar modules, have risen 23% over the past one month, thanks to the company’s better-than-anticipated second-quarter…