Raghu Belur, co-founder and chief of products at Enphase Energy, predicts that 2024 will be a year of recovery for residential solar, energy storage, EV charging, and home energy management. This is due to policy changes in California, utility rate changes in Europe, and high interest rates. The Invesco Solar Exchange Traded Fund is trading down 35% year-to-date. Belur noted that California’s market may be reaching the bottom trough in demand and Europe is beginning to stabilize. He also expressed confidence in the financial fundamentals of rooftop solar, storage, and EV charging. He highlighted that while interest rates are expected to fall, utility rates are rising far faster than inflation.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
