My friend, Kirk Tanner, sent a ChatGPT summary of an ebullient New Yorker article on solar:
Renewable energy, once considered a fringe “alternative,” is now rapidly becoming the dominant force in global power generation. Solar energy in particular is growing at a historic pace—faster than any energy source in history. It took from 1954 until 2022 for the world to install its first terawatt of solar, but the second came just two years later, and the third is expected by early 2025. Today, the world installs a gigawatt of solar—roughly the output of a coal plant—every 15 hours. In 2023, 93% of all new electric generating capacity in the U.S. came from solar, wind, and batteries. In March 2024, for the first time ever, fossil fuels generated less than half the electricity in the U.S.
California has been a leader in this transition: on May 25, 2024, renewables generated 158% of the state’s demand at peak, and 82% over the full day. Batteries are playing a key role, growing 76% in one year and increasingly powering the grid at night. Texas, often seen as oil country, is now outpacing California in renewable and battery installations. In one week in March, it set records for solar, wind, and battery output, and thanks to 10,000 new megawatts of capacity, it reduced blackout risk from 16% to under 1%. Meanwhile, fossil fuel use continues to decline—California is using 40% less natural gas than it did a year ago.
At the heart of the global surge is China, which installs more than half the world’s renewables and produces most of the solar panels and batteries. In 2024, nearly half of new cars sold in China were electric or hybrid, and solar and wind displaced enough coal to reduce national emissions. This influence is felt globally: in South America, 15 planned coal plants have been scrapped. In India, solar kept coal use flat and cut natural gas usage by 25% in early 2024. In Africa and South Asia, solar adoption is booming in rural areas where people are bypassing traditional infrastructure, similar to how mobile phones leapfrogged landlines. Farmers in Pakistan, for example, have switched en masse to solar irrigation, dramatically cutting diesel demand.
The U.S. is catching up technologically but faces internal political headwinds. The Inflation Reduction Act (IRA) provided unprecedented incentives for clean energy, but recent Republican efforts, including Donald Trump’s proposed “Big Beautiful Bill,” threaten to gut these incentives. Analysts warn this could eliminate up to 72% of future clean electricity projects. Despite this, bipartisan support for renewables remains strong—87% of Americans and 80% of Trump voters favor clean-energy tax credits. The transition is no longer about technology or economics—it’s about political will and clearing bureaucratic bottlenecks. Thousands of approved renewable projects remain stalled in interconnection queues across the country.
This moment mirrors past revolutions like the rise of oil, the computer age, or the industrial revolution—but this time it’s decentralized and democratized. Solar and wind are widely available and nearly impossible to monopolize or weaponize. Solar panels are now so efficient and cheap that, by 2032, solar is expected to surpass coal as the world’s top energy source. With continued innovation, especially in battery storage and recycling, the long-term path points toward energy abundance. The sun, after all, beams down tens of thousands of times more energy than the world needs. Whether the U.S. leads or lags in this revolution may ultimately determine its role in the global economy of the next century.
All that got me, Harry Newton, juiced up. So I asked Perplexity:
Solar installations are exploding. Are there any solar stocks worth buying?
And it answered:
With demand for clean energy at an all-time high, solar power companies are attracting exceptional investor interest. Several solar stocks stand out for their growth potential, innovation, and financial performance.
1.
-
: Advanced thin-film photovoltaic modules, better performance in heat, lower carbon footprint.
-
: 2025 Q1 net sales of $844.6 million, 2023 net sales up 37% to $3.2 billion.
-
: American manufacturing advantage, robust backlog, well-positioned for utility-scale projects.
-
: Regarded as resilient, with shares seen as undervalued compared to peers. Some analysts believe it could double in value given current industry dynamics.
2.
-
: Largest producer of wind and solar energy, operates 33 U.S. solar projects.
-
: 2024 revenue up 5% to $7.1 billion, market capitalization of $145.94 billion.
-
: Aggressive investments in solar, wind, and battery storage, stable utility operations.
3.
-
: Microinverters and energy management tech for homes and businesses.
-
: 2025 market cap $5.36 billion, 2025 revenue projected over $2 billion.
-
: Strong international growth, smart energy technology, leading in residential energy storage.
4.
-
: Diverse renewables, including substantial solar, wind, and hydro assets.
-
: Market cap of $5.69 billion, dividend yield of 4.01%.
-
: Strong pipeline for new solar capacity, global footprint, stable dividend.
5.
-
: Solar tracking systems for utility-scale plants, enabling higher electricity generation.
-
: Upgraded by analysts for 2025 growth potential, benefiting from lower steel prices and expected rebound from short-term contract setbacks.
Investments in solar, wind, and battery storage, stable utility operations.
6.
-
: Residential solar services and flexible financing in the U.S.
-
: Innovative business model, strong residential market growth, increased consumer demand for rooftop solar.
OK. Then I decided to chart all six solar stocks to see how they did over the past two years. The answer is sucky. They’ve done’ awfully. I don’t know why.
Meantime in you want to read the full impressive New Yorker article:
For the full McKibben piece (which is an excerpt of his upcoming book on solar), click here.
We are not geniuses
We’re in a bull market. Most tocks are going up. Especially the ones you and I own.
You can catch my stocks in the list on the right hand column of my web site. Click here.
Dollar-wise, my biggest gainers are NVDA and NFLX which reports later today.
Fun cartoons
Solar didn’t work out. They make things. But lots of stocks that don’t make things (with the exception of Nvidia) are working out just fine. We live in a world of services, the cloud, the Internet, AI, infrastructure (electricity and buildings), and semi-conductors.
Tell your kids to learn this stuff. The big firms are paying AI programmers $250,000 a year plus, and throwing in stock. (More than a plumber.)
AI startups are everywhere. They’re impressive. I wish I were 50 years younger.
— Harry Newton
