Solar demand gets hit amid higher interest rates

News Snapshot:

Solar stocks are taking a beating this year as higher interest rates and a recent policy change in California are squashing demand for rooftop power installations. On Thursday shares of solar related companies were mostly higher along with the broader markets, a much needed relief from their year-to-date downward trend. The Invesco Solar ETF (TAN) is 40% lower since the start of the year amid recent headwinds across the renewable energy industry. “In the third quarter, we continued to see difficult market conditions with a contraction in customer bookings and installations that is more persistent than we had previously forecast...