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Why Renewable Energy Stocks Plunged Today

TheMotleyFool

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Why Renewable Energy Stocks Plunged TodayPhoto, wide shot, wide-angle lens, Construction equipment, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/96af5505-e3c8-4496-bbb7-e4a5eba91e77.png

While most of the stock market is on the rise, the renewable energy industry is taking it on the chin in trading today. Not only is there speculation that subsidies could be cut back, but higher interest rates may lower the opportunity for renewable energy projects.

Three of the biggest movers were First Solar (NASDAQ: FSLR) falling as much as 19.7%, Fluence Energy (NASDAQ: FLNC) falling 18.8%, and Brookfield Renewable Partners (NYSE: BEP) down 9.5%. At the close of trading, the stocks were down 10.1%, 13.2%, and 6.1%, respectively.

Image source: Getty Images.

Source Fool.com