China Solar Manufacturers Jump as Biden Win Seen Boosting Demand
- Change in administration should support solar sector: analyst
- Longi, GCL-Poly among companies seen poised to benefit
This article is for subscribers only.
Shares in the Chinese companies that dominate production of solar panels rose after Joe Biden’s victory increased the likelihood that the world’s top economy will accelerate its move toward clean energy.
During the campaign, Biden said he’s aiming to eliminate carbon emissions from the U.S. power sector by 2035. Doing so will require a ramp-up in new solar installations, which should lift global demand and support the sector, said Dennis Ip, an analyst with Daiwa Capital Markets in Hong Kong.