The firm listed six U.S.-listed stocks that could benefit from the shift to solar power.
The Inflation Reduction Act's tax credits will likely prompt surging demand for solar power in the U.S., according to Goldman Sachs. And the firm sees stocks that will benefit from the domestic push. The law included a 30% credit toward the installation of solar panels or other equipment that harnesses renewable energy. But people must act within the next nine years to get the most savings. The 30% credit can be applied to projects completed between Jan. 1, 2022 and the end of 2032.
Pro compiled each stock's year-to-date performance, the share of analysts who have buy or overweight ratings and the average upside or downside expected, according to FactSet. Here's the list: Despite getting beat down this year, Enphase is well-liked on Wall Street and seen as poised for a rebound. About three out of every four analysts rate the stock a buy, with the average analyst price target implying the stock could gain slightly more than 52% over the next year.
's Michael Bloom contributed to this report
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