Why Renewable Energy Stocks Jumped on Tuesday

The energy industry has been thrown for a loop this week as Russia's invasion of Ukraine intensifies. The U.S. has said it won't import Russian oil, and corporate buyers have said they're divesting and/or not buying from Russia, putting immense pressure on oil markets as a result.

Shares of residential solar installer Sunnova Energy International (NYSE: NOVA) jumped as much as 18.5%. Solar manufacturer Canadian Solar (NASDAQ: CSIQ) was up as much as 15.8%, while hydrogen stocks Bloom Energy (NYSE: BE) and Ballard Power Systems (NASDAQ: BLDP) were up 15.1% and 16.4% respectively.

Image source: Getty Images.

Source Fool.com