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BUZZ-Solar companies gain after Powell's comments fuel rate-cut expectations

Reuters
08/22
BUZZ-Solar companies gain after Powell's comments fuel rate-cut expectations

** Shares of solar companies rise, tracking broader market gains after U.S. Federal Reserve Chair Jerome Powell hinted on possible interest rate cuts in September .N

** Lower interest rates reduce the cost of solar projects, making it a cheaper investment for homeowners, leading to a rise in demand for solar products

** Shares of SunRun RUN.O up 7.5%, SolarEdge Technologies SEDG.O rise 8.7%, and Enphase Energy ENPH.O up 7.4%

** First Solar FSLR.O rises ~4% and Canadian Solar CSIQ.O up 2.4%

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))

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