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☆ Electric bill: Home heating costs expected to rise this winter
▼ + stars: | 2024-10-01 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

Consumers who heat with electricity will be hit the hardest, with their costs projected to rise 13.6% to $1,208 for the winter season, the association found. The expense of maintaining and upgrading the electric grid is driving up costs, particularly in the West, where fires have ravaged the grid and electric heating costs could soar nearly 23%. The price tag for heating with propane will rise 7.3% to $1,442 this winter, while natural gas users will see a 7.2% increase to $644. Natural gas prices have stabilized but are expected to rise over the winter as US exports increase, said Mark Wolfe, the association’s executive director. But those who heat with oil will catch somewhat of a break after a pricey heating season last year, with costs expected to rise only 6.1% to $1,963 this winter.

Persons: Mark Wolfe, Wolfe, ”, “ Organizations: CNN, Northeast, National Energy Assistance, Association, Consumers, Low Income, Energy Assistance Locations: Midwest

☆ States forge ahead with Inflation Reduction Act energy rebates — so far, South Dakota is the only one to opt out
▼ + stars: | 2024-09-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

South Dakota is not participatingSouth Dakota Gov. The $68.6 million of federal money that had been set aside for South Dakota rebates will be redistributed among participating states. Fury also noted this isn't the first time South Dakota has rejected federal spending. Bipartisan legislation to create an energy rebate program had existed almost a decade earlier, like the Home Star Energy Retrofit Act in 2010. Ron DeSantis in 2023 had vetoed the state's authority to spend about $5 million of federal funds to administer the energy rebate program.

Persons: I'm, Kara Saul, Rinaldi, Kristi Noem, Scott Olson, Ian Fury, Fury, Saul, Ron DeSantis, Robert Gauthier Organizations: New York, U.S . Department of Energy, AnnDyl, D.C, DOE, of Columbia, Energy, South Dakota Gov, Republican National Convention, Getty, Green, Gov, Republican, South Dakota Bureau of Finance, Management, Home Star Energy, Republican Gov, state's Department of Agriculture, Consumer Services, CNBC, Florida Gov, Los Angeles Times, Department of Agriculture Locations: Arizona, Maine, New Mexico, Rhode Island, Wisconsin, Washington, California , Colorado , Connecticut, Delaware, Florida, Georgia, Hawaii , Illinois , Indiana , Michigan, Minnesota , New Jersey , New Hampshire , Massachusetts, North Carolina , Oregon , Tennessee , Vermont, West Virginia, Dakota, South Dakota, Rinaldi . Florida

She, like 2,000 other state residents, is awaiting approval for aid through a community advocacy program. Resumed funding for LIHEAP is dependent on an appropriations bill used to fund the government. “We had calls during our latest heat wave, and our agencies just don’t have the LIHEAP funding,” Sarensen said. Unlike those so-called entitlements, LIHEAP funding can be depleted without helping everyone who qualifies. Neither Vice President Kamala Harris nor former President Donald Trump has mentioned direct utility or weatherization aid in their campaigns for the White House.

Persons: Cathy McCorkle, she’s, ”, “, won’t, Mark Wolfe, “ There’s, Wolfe, LIHEAP, Bridget Bennett, Brian Sarensen, Sarensen, ” Sarensen, That’s, “ It’s, Stephanie Ashley, We’ve, Ashley, “ We’ve, We’re, we’re, ” “, Kamala Harris, Donald Trump, Karen Lusson Organizations: U.S, Low Income, Energy Assistance, National Energy Assistance, Association, Center for Energy, Opera, Washington, Getty Images, Commerce Department, Law, SNAP, Washington , D.C, House Republicans, White, U.S . Treasury Department, National Consumer Law Locations: Mount Holly , North Carolina, San Diego, Death Valley, Calif, Washington, Phoenix, Oregon, North Carolina, Washington ,

☆ Rapid renewable energy growth leads FBI to warn hackers will hit new, vulnerable power supply
▼ + stars: | 2024-07-29 | by ( Michelle Castillo | ) www.cnbc.com time to read: +6 min

Government incentives, including the Inflation Reduction Act, have encouraged individuals and private ownership groups to invest in clean energy systems. The renewable energy industry's rapid expansion in the U.S. in some cases is occurring without traditional utility protocols and regulations. The boom in renewable energy has also led manufacturers of products and services to ramp up their offerings. Inverters connected to the internet, in particular, could be controlled by hackers to reduce output or overheat home energy systems. Other major players in the U.S. utilities and renewable energy sector, including Next Era Energy, Constellation, Enphase Energy, First Solar and Sunrun, did not respond to requests for comment.

Persons: Jim Hempstead, SEIA, Bheshaj Krishnappa, Freddie Mac, Moody's, Jim Guinn Organizations: FBI, U.S . Energy Information Administration, Metropolitan Washington Council, Governments, Department of Defense, U.S ., Solar Energy Industries Association, Department of Energy Solar Energy Technologies Office, Constellation Energy, Corporation, cybersecurity, Cybersecurity, GE Vernova, Constellation, Enphase Energy Locations: U.S, California , Utah, Wyoming, United States, China, Russia, Iran, cyberattacks

☆ More states expected to roll out Inflation Reduction Act energy-efficiency rebates this summer
▼ + stars: | 2024-06-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

New York is launching a program offering homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property, and more states are expected to follow suit by summer's end. The rebate programs are part of the federal Inflation Reduction Act, the largest piece of climate legislation in U.S. history, which President Joe Biden signed in 2022. The law earmarked $8.8 billion for consumers via two Home Energy Rebates programs. Such projects might include installing air sealing, insulation, electric heat pumps and electric stoves, for example. When combined with a fledgling state program called EmPower+ — which offers up to $10,000 per low-income household — consumers can access up to $24,000 in total rebates for making energy-efficiency upgrades, according to Doreen Harris, president and CEO of the New York State Energy Research and Development Authority.

Persons: Joe Biden, Doreen Harris Organizations: Energy, Finance, SEC, FEMA, New York State Energy Research, Development Authority Locations: York, New York

☆ Opinion: America needs a paradigm shift in how we respond to extreme heat
▼ + stars: | 2024-06-18 | by ( Opinion Mark Wolfe | ) edition.cnn.com time to read: +5 min

Editor’s Note: Mark Wolfe is an energy economist and serves as the executive director of the National Energy Assistance Directors Association, representing the state directors of the Low Income Home Energy Assistance Program and co-director of the Center on Climate, Energy and Poverty. Triple-digit temperatures have hit the western states, with the Northeast, Midwest and Great Lakes regions expected to see extreme heat waves this week. Weather-related deaths from extreme heat are more common than from those from hurricanes, floods, extreme cold and other natural disasters. According to the US Centers for Disease Control and Prevention, about 1,220 people die from extreme heat every year. During periods of extreme heat, cooling is not just a luxury that provides comfort, but a necessary measure that helps families across all income brackets, and especially low-income families, stay safe.

Persons: Mark Wolfe, That’s Organizations: National Energy Assistance, Association, Income, Energy Assistance Program, Energy, CNN, Triple, US Centers for Disease Control, Center for Energy, US Energy Information Administration, Low Income, Energy Assistance, Twitter, Facebook, Federal Locations: United States, Midwest, Great, Washington, Connecticut

☆ As the heat goes up this summer, so do cooling costs
▼ + stars: | 2024-06-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

The groups projected that the average cost across the country could be $719, a nearly 8% increase from the same period last year. In some regions that figure is higher; in Southern states like Texas, the average cost could hit $858. The forecast for summer cooling costs is based on federal data on regional electric prices, summer temperatures, and residential air conditioning, Wolfe said. Related stories"We are assuming a higher rate of temperature change, and recent heat waves are bearing this out," Wolfe said. Those who do may not turn it on in an effort to avoid higher bills, Wolfe said.

Persons: —, Mark Wolfe, May, Wolfe, Louis — Organizations: Service, Business, National Energy Assistance, Association, Center for Energy, Southwest, US Energy Information Administration, Low Income, Energy Assistance Locations: Southern, Texas, Phoenix, El Paso , Texas, York

☆ Summer heat will likely bring higher electric bills amid rising temperatures
▼ + stars: | 2024-06-03 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Many Americans may get hot under the collar when they open their electric bills this summer, but for some, the consequences of rising utility costs can be a lot more serious. He pointed to the National Weather Service’s prediction that much of the country will probably have above-normal temperatures this summer. The difference in projections stems from the association assuming higher rates of usage because of hotter temperatures, Wolfe said. The Low Income Home Energy Assistance Program, known as LIHEAP, has $4.1 billion to help consumers with heating and cooling costs, down from $6.1 billion in the prior fiscal year. “Because of the lack of a coherent policy to address summer cooling, people will die this summer from heatstroke,” Wolfe said.

Persons: Mark Wolfe, ”, Wolfe, Diana Hernandez, Hernandez, “, ” Hernandez, arrearages, ” Wolfe Organizations: CNN, National Energy Assistance, Association, Center for Energy, US Energy Information Administration, Department of Health, Human Services, Energy, Columbia University, Income, Energy Assistance, US Census Bureau, District, Columbia, National Weather Service Locations: Pacific, Chicago, heatstroke

☆ My husband quit a job he hated. As the breadwinner, I don't make as much money, but we feel like we can finally breathe again.
▼ + stars: | 2024-05-11 | by ( Katie Matthews | ) www.businessinsider.com time to read: +6 min

My husband was so burned out by the time he quit that he's taking some time before going back to work. I feel the same way now that I'm the one with the job, even temporarily. Admittedly, I can feel resentful that I'm working while he isn't, especially when I've never had a clean break from work, not even when our babies were born. Katie Matthews and her husband appreciate each other more since he quit his job. AdvertisementMy husband still isn't sure what he'll do next, but he's the most hopeful he's been in a long time.

Persons: We've, I'm, I've, It's, we've, it's, haven't, Katie Matthews, he's Organizations: Service, Business

☆ Opinion | Give Me Laundry Liberty or Give Me Death!
▼ + stars: | 2024-05-09 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

MAGA Republicans say that America is in crisis: The economy is collapsing while the nation is being overrun by hordes of violent immigrants. But if that’s what you believe, you should be laser-focused on fighting the clear and present danger, right? In April, Republicans planned to vote on a series of more specific bills: the Liberty in Laundry Act, the Refrigerator Freedom Act and more. Should the government be trying to limit home energy consumption? If so, should it do so with efficiency mandates for appliances, or in some other way?

Persons: MAGA, they’re Organizations: MAGA Republicans, Republicans, Appliances, Department of Energy, Liberty, Laundry Locations: America

☆ Carrier, the century-old inventor of the air conditioner, is moving on to the home heat pump
▼ + stars: | 2024-04-22 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

Andrew Aitchison | In Pictures | Getty ImagesIn case you haven't noticed, heat pumps are hot. But there are other reasons why heat pumps are fast becoming popular with homeowners. All of this is transforming Carrier Global , the nearly 100-year-old manufacturer whose founder, Willis Carrier, invented air conditioning. Heat pumps have a history dating back to 1850s The thermodynamic science behind heat pumps was developed in the 1850s, when the first ones were invented, and they've been used in homes since the 1960s. Heat pumps use electricity to transfer heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.

Persons: CARR, Andrew Aitchison, Willis Carrier, David Gitlin, Carrier, Hakan Yilmaz, Yilmaz, they've, Michael Kretschmer, Sebastian Kowalski, Kretschmer, Tobie Stanger, Dave Lis, Viessmann, Milena Oliveira, Oliveira, Mark Prodan, Prodan, There's Organizations: Carrier Global, United Technologies, Solutions, East Trade Policy, Getty, International Energy Agency ., U.S . Climate Alliance, Consumer, Energy Efficiency, Carrier, M, Energy Star Locations: Gardens , Florida, Saxony, Leipzig, America, U.S, Maine, Michigan, Indian, Connecticut, New York State

☆ Consumers may soon get access to a share of $8.8 billion in Inflation Reduction Act home energy rebates
▼ + stars: | 2024-04-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

The IRA splits $8.8 billion in total rebate funding between two programs: the Home Efficiency Rebates program and the Home Electrification and Appliance Rebates program. The Home Electrification and Appliance Rebates program The Home Electrification and Appliance Rebates program pays consumers a maximum amount of money for buying specific technologies and services, Saul Rinaldi said. Home Efficiency Rebates program Conversely, the Home Efficiency Rebates program is technology-neutral, Saul Rinaldi said. Larger rebates flow to those who cut more energy, Saul Rinaldi said. In this way, the Home Efficiency Rebate's value can technically exceed that of the Home Electrification and Appliance Rebates program, Zelmar said.

Persons: Zelmar, Jan, Biden, Kara Saul Rinaldi, Saul Rinaldi Organizations: Energy Department, AnnDyl, U.S . Department of Housing, Urban Locations: Arizona , California , Colorado , Georgia, Hawaii , Indiana , Minnesota , New Hampshire , New Mexico , Oregon, Washington, Georgia, Oregon , Indiana, New Mexico

☆ Continuing resolutions are a silly way to run a government, but we do it every year
▼ + stars: | 2024-03-02 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

October 1 has been the official kickoff date for the federal fiscal year since 1977. Lawmakers have passed at least one continuing resolution in all but three of the years in the nearly half-century since. Instead, they will wrap the spending bills into larger packages – frequently called an “omnibus” that is passed in December or later. In 1997, for instance, there was no CR, but the spending bills were all passed together as an omnibus. Don’t hold your breath for them to get the 2025 spending bills done on time.

Persons: ”, Joe Biden, haven’t, Maya MacGuineas, CNN’s Tami Luhby, arrearages, Biden, What’s, Mike Johnson Organizations: CNN, CRs, Journalists, Senate, Lawmakers, Congressional Research Service, GAO, Federal, WIC, Budget, Low Income, Energy Assistance, National Energy Assistance, Association, Partnership for Public Service, Democratic, Capitol Hill, Agriculture, FDA, Commerce, Justice, Science, Energy, Water, Veterans Affairs, Transportation, Housing, Urban Development, Defense, Financial Services, General Government, Homeland Security, Labor, Health, Human Services, Foreign Locations: Washington, State

Energy startup Axle is in talks to raise a round backed by VC fund Accel, BI understands. The year-old company could raise around $6 million in capital as part of the deal, sources say. The energy tech startup uses electric vehicles and home energy assets to help balance grids. Energy software startup Axle Energy is in talks to raise fresh funding in a round backed by venture capital fund Accel, Business Insider understands. The London-based company, founded in 2023, connects electric vehicles and batteries to energy grids to help solve the intermittency of renewables.

Organizations: Energy, Accel, BI, Business Locations: London, Europe

A variety of home upgrades come with federal and state tax rebates, which can offset the cost. New programs are being rolled out — your state might have new tax rebates available this year. AdvertisementMany upgrades have tax incentives"The Inflation Reduction Act has put a really large bank account at the fingertips of most Americans for most electrical upgrades," Richardson says. Rebates can be stacked for added valueQualifying energy-efficiency home upgrades made between January 1, 2023, and 2032 can get a federal tax credit of up to $3,200. "To maximize the financial value of the project, you want to get efficient equipment, and you want to maximize the rebates," Richardson says.

Persons: —, DR, Richardson, You'll Organizations: Service, DR Richardson, Elephant Energy, Energy Locations: Colorado and Massachusetts, Denver, Colorado, America

AdvertisementWe expect our energy bill to remain high in the coming months unless we make crucial changes around our apartment. But having the heat on for 12 hours is making our energy bill higher than we'd like. But I am willing to invest a little money if it will decrease my monthly energy bill. Minkel also says that it's important to stay safe with your actions even when you're eager to lower your energy bill. AdvertisementInstead, Minkel says that it's important to put safety first as you're looking for ways to reduce your energy bill.

Persons: —, we've, Maureen Minkel, Minkel Organizations: Service, Business, South Jersey Industries, weatherstripping Locations: South

☆ How a tax break of up to $3,200 can help heat your home more efficiently this winter
▼ + stars: | 2023-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Steve Smith | Tetra Images | Getty ImagesHow the tax break worksWestend61 | Westend61 | Getty ImagesThe Inflation Reduction Act, which President Joe Biden signed into law in August 2022, extended and enhanced a prior tax credit available for home efficiency upgrades. The tax credit is worth 30% of the cost of qualifying projects. The combined tax break for these projects is capped at $1,200 a year. Altogether, taxpayers can get a maximum overall credit of $3,200 a year, if they combine projects worth up to $1,200 and $2,000. The IRS published a fact sheet that gives examples of the overall tax break consumers can expect for specific upgrades.

Persons: Steve Smith, Joe Biden, Kara Saul, Rinaldi, Saul Organizations: Westend61, AnnDyl, Environmental Protection Agency, IRS

☆ Midwestern Cities Will Have Highest Winter Heating Bills, Study Finds
▼ + stars: | 2023-11-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +2 min

Residents of cities across the Midwest will be hardest hit by home heating costs this winter. A new study ranked US cities based on costs in relation to incomes, energy efficiency, and more. The study ranked heating expenses in the 500 biggest cities in the country based on several factors, including electricity and heating fuel costs relative to average income, home energy-efficiency, and things like weather and average home size and age. Cleveland and Flint have particularly energy inefficient homes, while Independence and St. Joseph ranked high on energy costs, the study reported. During the hot months, places like Florida and Georgia become the most unaffordable when it comes to HVAC costs, the study noted.

Persons: —, Joseph Organizations: Service, Midwest ., Midwestern, Puget, Census Bureau, Department of Energy, National Oceanic, Atmospheric Administration Locations: Midwest, Springfield , Missouri, Cleveland , Ohio, Independence , Missouri, Flint , Michigan, St, Joseph , Missouri, Midwest . Cleveland, Flint, Independence, Northeastern, Southern, Central California, Washington State, Florida, Georgia

☆ Installing solar isn't the only big financial decision to make about controlling home power
▼ + stars: | 2023-10-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

That means it may be a good time to consider a home backup power storage system. Fossil fuel vs. battery power If you're not opposed to fossil fuel-powered options, there are several categories to consider based on your power needs. EVs as a backup power option for the home Some electrical vehicles can be used to back up essential items, or, in some cases, a whole home. "If you're contemplating spending $10,000 on a whole home gas generator system, why not think about an EV with this capability instead?" Some states provide additional solar battery incentives.

Persons: Ian Thomas Jansen, Lonnquist, Benjamin R, Dierker, Vikram Aggarwal, EnergySage, it's, Aggarwal, EVs, Ford's, Jim Farley, Stephen Pantano, Pantano, Sarah Delisle, Ted Tiffany, Tiffany Organizations: Motors Inc, Bloomberg, Getty, Alliance for Innovation, National Centers for Environmental, Consumers, GM, Ford, Swell Energy, Decarbonization Coalition, of Energy, Homeowners, Energy Department Locations: United States, California , Texas, Louisiana, California, California , Vermont , Massachusetts, New York, America

☆ A big EV purchase decision that's not about the car model you buy
▼ + stars: | 2023-09-29 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +3 min

As all-electric vehicles become more popular and incentives for renewable energy proliferate, many early EV adopters may be reconsidering their home charging needs. The decision to upgrade from a standard Level 1 charger to a Level 2 charger at home is on many owners' minds. It can be an important decision given that about 80% of all charging takes place at home, according to Department of Energy estimates. You might not need Level 2 charging capabilities at home, however, since they can often be found at retail establishments, workplaces, restaurants and grocery stores. Another option is a Level 2 at-home charging station that's permanently mounted, which can allow users to customize charging schedules to better control charging.

Persons: Brian Wilkerson, I'm, Mark Barrott, Plante Moran Organizations: of Energy, Ford Pro, Ford Motor Company, EV, of Transportation

☆ Winter expected to be costlier for those who heat with oil. But natural gas heat users will finally get a break.
▼ + stars: | 2023-09-20 | by ( Tami Luhby | ) edition.cnn.com time to read: +4 min

New York CNN —After several years of skyrocketing winter heating costs, millions of Americans are expected to finally get a little relief this coming season — if they heat their homes with natural gas, that is. “This is the first year many families will get a break,” said Mark Wolfe, the association’s executive director, referring to the projected drop in natural gas heating costs. Electricity, which is the second most common source of heat, is projected to cost an average of $1,374, up 1.2%. The federal Energy Information Administration is expected to release its winter heating cost outlook next month. Home heating is still priceyAmericans are gearing up for the winter heating season just as rising gas prices have strained their finances.

Persons: walloped, ”, Mark Wolfe, ” Wolfe, Wolfe, “, Monette Ferguson, Ferguson Organizations: New, New York CNN, National Energy Assistance, Association, federal Energy Information Administration, “, Low Income, Energy Assistance, Senate, Alliance for Community Empowerment Locations: New York, Russia, Saudi Arabia, New England, Connecticut

☆ Shell to sell home energy business in UK, Germany to Octopus Energy
▼ + stars: | 2023-09-01 | by ( Susanna Twidale | ) www.reuters.com time to read: +2 min

The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - Shell (SHEL.L) said on Friday it would sell its home energy business in the UK and Germany to British energy supplier Octopus Energy Group as part of a deal in which the two companies explore a partnership on EV charging. “This agreement follows the announcement during our Capital Markets Day to divest our home energy retail business in Europe,” said Shell Executive Vice-President Steve Hill. Shell Energy Retail Limited in the UK and Shell Energy Retail GmbH in Germany provide domestic gas, power and broadband services to about two million customers and operate under the Shell Energy brand. Shell and Octopus have also signed a memorandum of understanding to explore a potential international partnership over electric vehicles (EV) charging, including for Shell Recharge subscribers, Shell said.

Persons: Chris Helgren, ”, Steve Hill, Shell, Susanna Twidale, Radhika Anilkumar, Savio D'Souza, Chizu Organizations: Shell, REUTERS, Octopus Energy, EV, Shell Energy Retail Limited, Shell Energy Retail GmbH, Shell Energy, Gas, Shell Energy Retail, Thomson Locations: Vancouver , British Columbia, Canada, Germany, British, Europe, Britain, London, Bengaluru

Nearly 80% of the S & P 500 companies that have reported their second-quarter results have reported an earnings beat, according to FactSet. Retail and restaurant companies will begin to announce their earnings this week, including Ralph Lauren and Wendys. Given this backdrop, CNBC Pro searched for S & P 500 companies reporting this week which analysts forecast having earnings momentum. Analysts are forecasting earnings per share to come in at $2.64, according to FactSet. More than 81% of analysts covering the stock rate it a buy or strong buy, according to Refinitiv.

Persons: Ralph Lauren, Wendys, Refinitiv, WYNN Organizations: Media, Paramount Global, Fox, Fox , New York Times, News Corp, Disney, CNBC Pro, Charles River Laboratories, Wynn Resorts, Energy Locations: Fox ,, Insulet

☆ Consumers may soon get up to $14,000 or more in rebates for making energy-efficient home upgrades — if states sign on
▼ + stars: | 2023-08-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Emilija Manevska | Moment | Getty ImagesConsumers may soon be able to access $14,000 or more of federal rebates for making energy-efficient upgrades to their home. The IRA devotes a total of $8.8 billion for two initiatives: the Home Efficiency Rebates program (which offers up to $8,000) and the Home Electrification and Appliance Rebates program (up to $14,000). However, consumers may be able to pair rebates with certain clean energy tax credits, which are currently available. How the Home Efficiency Rebates program worksIn dollar terms, larger rebates are generally available to the lowest earners. How the Home Electrification and Appliance Rebates program works

Persons: Emilija, Joe Biden, Kara Saul Rinaldi, We've, Jennifer Amann, Amann Organizations: Getty, Energy, AnnDyl, Home Energy, American Council for, Weatherization, U.S . Department of Housing, Urban Locations: Florida

☆ Truist says this power generator builder can rally more than 40%
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Generator supplier Generac is primed for major gains ahead, according to Truist. The firm upgraded the stock to buy from hold on Friday. GNRC 5D mountain Generac this week But analyst Jordan Levy said investors shouldn't shy away from the stock. The analyst also pointed to potential upside compared to the firm's 2024 forecasts for growth thanks to pent up demand for home standby generators. Investment firm Janney also upgraded Generac to buy on Friday, citing improvements in free cash flow generation, an attractive valuation and potential upside from an analyst day in September.

Persons: Jordan Levy, Levy, Janney, — CNBC's Michael Bloom Organizations: Investment Locations: Thursday's

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