Since the Russian invasion of Ukraine began on February 24, shares of seven alternative energy stocks have added between 23% and 55% to their share prices. The not-so-good news for investors is that before Putin’s war, just three of these stocks traded in the green for the past 12 months, and all still trade well below yearly highs posted in the first half of November. Talks between Ukrainian and Russian officials are set to begin on Thursday.
While Putin’s war is pushing share prices higher now, it remains to be seen if the gains will last. November’s high prices were the result of expectations that the U.S. government would invest some $250 billion over 10 years. Congress failed to approve the investment when it rejected the president’s Build Back Better proposal. President Biden has not given up, however, and called in his State of the Union message for more investments and tax credits to “double America’s clean energy production in solar, wind, and so much more …”
The short-term gains in solar energy stock prices could stretch further into the future if U.S. and E.U. intentions become reality. Here is a look at five alt energy companies that are benefitting now and could become longer-term winners as well.
This post originally appeared at 24/7 Wall St.