Solar Stocks Surge Following Tesla's Record Energy Storage Deployments

Reported 2 days ago

Solar stocks experienced a significant rise after Tesla reported its record energy storage product deployments in the fourth quarter. The Invesco Solar ETF rose by 5%, while SolarEdge Technologies and First Solar saw increases of 9% and 6%, respectively. Tesla's energy storage division, which produces batteries for solar energy storage, deployed a total of 11 gigawatt hours in the fourth quarter alone, contributing to an overall 31.5 gigawatt hours in 2024. The positive news follows the start of trial production at Tesla's gigafactory in Shanghai.

Source: YAHOO

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