Solar Energy names are just starting to see a good deal of attention.
Not only were solar stocks gaining momentum with the election, but they’re also gaining explosive momentum with the artificial intelligence boom.
In fact, we’re just starting to see explosive electricity demand from U.S. data centers that are helping fuel the artificial intelligence boom. “While all types of power sources could benefit from the increased demand, renewable energy systems such as wind and solar power can help tech companies meet their power needs while also making progress towards sustainability goals,” added GlobaXETFs.com.
“Not only is the number of data centers rising, but they’re also getting bigger and requiring more power. On its Q1 2024 earnings call, Virginia-based utility Dominion Energy reported that requests for energy demand from proposed data center campuses range from 300 megawatts (MW) up to several gigawatts (GW),” they added.
| Company: First Solar (SYM: FSLR) Analysts atArgus just raised their First Solar price target to $250 from $225, with a “buy” rating. The firm believes FSLR will benefit from evolving tariffs and other regulations regardless of who wins the election. Barclays also just raised its price target to $290 from $280 with an “overweight” rating on the stock. Analysts at Citi also upgraded FSLR to a buy rating with a $254 price target, noting it should benefit regardless of the election outcome. |
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| Company: Sunrun (SYM: RUN) Sunrun is seeing upside on news it’s in talks with data center developers to provide solar power generation to their sites. According to Bloomberg, “The San Francisco company, which specializes in residential solar and battery systems, is looking at a couple different really cool models,” said company CEO Mary Powell. “Those models could include working with electric utilities to provide bespoke solar systems for new data centers or leveraging existing Sunrun systems in nearby communities, Powell said. She declined to say more, due to non-disclosure agreements with the developers.” |
Investing Trends
How to tap into uranium’s bull market
The current uranium bull market is part of a global mega trend driven by the fact that, as a rule, commercial nuclear power plants use 27 tons of uranium a year.
Across the globe there are 60 uranium-fueled nuclear power plants under construction and 110 more on the way. That’s a nearly 40% spike when added to the current 440 nuclear power plants operating worldwide.
So, with that 40% jump in mind, you can sense where demand is going.
Wall Street Journal says “Uranium is running hot.”
Take a minute to see why this low-priced uranium explorer merits your attention.
| Company: Invesco Solar ETF (SYM: TAN) With an expense ratio of 0.67%, the ETF “is based on the MAC Global Solar Energy Index (Index). The Fund will invest at least 90% of its total assets in the securities, American depositary receipts (ADRs) and global depositary receipts (GDRs) that comprise the Index,” as noted by Invesco.com. Some of the fund’s top holdings include First Solar, Enphase Energy, Sunrun, Xinyi Solar, and NEXTracker Inc. |
