Solar stocks gain after US Fed cuts rates

Jinko Holdings

18/09/2024 19:47

** Shares of solar companies rise after U.S. Federal Reserve
cuts interest rate by a sizeable half percentage point
    ** Shares of Jinko Solar  JKS.N , Enphase Energy  ENPH.O ,
Sunnova Energy  NOVA.N   rise between 3.8% and 4.8%
    ** First Solar  FSLR.O  and Sunrun  RUN.O  up 3.5% and 3.8%,
respectively
    ** Demand for solar rises when rates are low as solar
projects are capital intensive 
    ** Higher interest rates raise the costs of solar projects,
making it expensive investment for homeowners


 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com))