Solar Stock Slump Extends Into 2024 as Trump Election Odds Rise
- Sector has been battered by tariffs, inflation, energy prices
- Fed rate cut could bring some relief, even as election looms
Solar companies face more pressing problems than who sits in the White House.
Photographer: Daniel Leal/AFP/Getty ImagesSolar stocks, already battered by falling prices, tariffs and rising borrowing costs face another potential threat over the coming months: Donald Trump.
In 2016 — a year that culminated in Trump’s surprise victory — a gauge of global solar stocks tumbled 45%. In 2020, the benchmark more than tripled as Joe Biden secured the presidential election. After three years of losses, the current election cycle promises more stomach-churning moves.