Why Solar Energy Stocks Are on Fire This Week

Solar energy stocks had a great week this week as tailwinds from energy markets and financial markets played in the industry's favor. Not only does it look like oil and natural gas prices will remain high for the foreseeable future -- potentially driving homeowners to consider solar -- interest rates are dropping, which should lead to higher margins for solar installers. 

Gains were broad-based, but there were some notable movers to lead the market. SunPower (NASDAQ: SPWR) was up 14.7% in the first four days of trading this week, Sunrun (NASDAQ: RUN) rose 14.3%, SolarEdge Technologies (NASDAQ: SEDG) jumped 16.7%, and Sunnova Energy (NYSE: NOVA) was up 13.4% to round out residential solar stocks. On the manufacturing side of the industry, Daqo New Energy (NYSE: DQ) was up 13.4% in the first four days of trading. 

Image source: Getty Images.

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Source Fool.com