Shares of solar energy companies Enphase Energy and SolarEdge got rating upgrades from analysts at Susquehanna.
Susquehanna analysts boosted their rating on the shares to positive from neutral. Analyst Biju Perincheril said he expects U.S. solar capacity to increase by about 25 gigawatts over the next five years, an upward revision of 1 gigawatt from his January forecast, according to Bloomberg.
However, earlier in the week, California’s three biggest utilities proposed changes in the state’s solar program that would lead to higher connection charges and lower rebates for homeowners’ new solar panel installations. According to the utilities, this proposed rule intends to mitigate “unfair and growing inequity” in state policy that has non-solar customers paying about $3 billion more a year for electricity to subsidize solar customers, Bloomberg reports.
Bernadette Del Chiaro, executive director of the California Solar and Storage Association, responded, “California is a solar state, but the utilities want to own the sun and keep it out of the hands of everyday people”.