Solar system provider Sunworks (NASDAQ:SUNW) and SUNW stock are prospering today as President Joe Biden’s plans to expand solar energy are coming to light.
Biden’s multitrillion-dollar infrastructure deal is on everybody’s radar recently. The proposal covers nearly every facet of American infrastructure, from transportation to mass plumbing development to conservation. One of the industries most benefitting from the proposal will be the renewable energy industry.
The proposal allots $100 billion to the development of multiple different renewable energy sectors.
One of these sectors will see the most benefit is solar energy. The cost of solar energy has reduced drastically over the last decade. It is already one of the most cost-effective alternatives to polluting non-renewables. Additionally, the industry is already expected to reach higher demand by the end of the year than ever before.
The proposal hopes to further spur along solar development by providing tax credits on the production and investment of solar energy. The cost-effective industry will become even more cost-effective if the bill goes through, and solar stocks are benefitting greatly at the prospect of this aid.
SUNW Stock Rises After Biden’s Proposal
SUNW stock is one of the biggest winners from this news. Shares are up by 18% this morning.
Bullish investors would be wise to check out SUNW stock. Sunworks is a leader in the solar industry, providing solar solutions to homeowners, commercial businesses and agricultural businesses alike.
The Biden administration’s proposal could lead to fast development in the already popular alternative to gas and coal. As one of the frontrunners who has already seen rapid gains in the last handful of weeks, expect SUNW stock to continue its meteoric rise.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.