Oil Market Volatility Spurs Interest in Solar Energy Stocks

The Invesco Solar ETF has surged 12% year to date due to oil market volatility. SolarEdge Technologies, a maker of residential solar inverters, has also seen its stock rise 36% over the past month. However, analysts have downgraded the stock from "underperform" to "hold" or "neutral," and price targets are well below the current closing price of $51.73. The European market's renewed interest in clean energy following the Russia-Ukraine war may not be replicated by the Iran conflict.