Wall Street analysts say the renewable energy industry may be more insulated from a recession than other industries.Wall Street analysts are warning that the US is teetering on a recession. Some say it's already here.
And that's especially true for solar facilities, says Colin Rusch, an analyst at Oppenheimer & Co., "because there are no moving parts and limited maintenance." Innovation is what drives down the cost of renewable energy, Sophie Karp, an analyst at KeyBanc, said.Other forces will drive down the cost of renewable energy, even within a recession
"That has nothing to do with the economy," he said. "Whether GDP is up or down, it makes no difference for a utility investment decision because utilities are regulated businesses." "Oil companies — particularly European ones — have become pretty significant investors in renewables," McCrone said. "So if they're feeling under pressure, then it could be that they become not so keen to invest in renewables quickly." Private investors poured $10.5 billion into clean energy in 2019. This list shows that oil and gas giants are among the most active private investors.
That said, many companies including Sunrun and Sunnova offer leasing and loan options, which could be attractive deals in a recession. It's also possible that more customers will pursue rooftop solar for their homes to ensure a more stable supply of energy in the wake of the pandemic.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »