Clean energy related stocks have been the clear winners of the Inflation Reduction Act (IRA). Solar panel makers, fuel cell manufacturers and energy storage companies all stand to benefit from the measure.
Solar and wind energy stocks have been rallying since the bill was announced in late July. A large number of these equities are up double digit percentages year-to-date. They have far outperformed the broader markets.
The IRA focuses on providing production tax credits for companies to manufacture items like solar panels and wind turbine parts in the United States. The bill also calls for credits of up to $7,500 for electric vehicles assembled in the United States.
“There are many facets of this bill but, EV’s and clean energy we think are going to be the two main winners based on where the dollars are being allocated,” Blackrock’s US head of thematic and active equity ETFs Jay Jacobs recently told Yahoo Finance Live.
“I think it’s really going to be felt across the entire…