Solar investment could reach a turning point in 2023, and some stocks are well-positioned to benefit from the boom.
In the U.S., the Inflation Reduction Act is expected to lead to $600 billion in new investment in solar technology, according to the Solar Energy Industries Association.
More than 62% of analysts are bullish on the home solar energy company.
ReNew Energy's average price target suggests shares rallying 47% in the coming months.
The residential solar energy provider could see shares surge almost 90%, according to its average price target.
Persons:
Michael Grubb, Grubb, Morgan Stanley
Organizations:
International Energy Agency, University College London, Bank, Development, Solar Energy Industries Association, CNBC Pro, Nasdaq, York Stock Exchange, Energy, Energy Global, Sunnova Energy
Locations:
U.S, India