After Tesla Inc.’s historic inclusion, S&P 500 another clean tech firm is joining namely Enphase Energy Inc., a California based company which builds components of the solar power work and will join the index before trading opens on 7th January. Its entrance is the exclamation point on a banner year for the company and for the solar industry broadly.
There has been a noticed surge of 562 percent in company’s shares since the end of 2019 whereas on the other hand the WilderHill Clean Energy Index is up by 206 percent.The big message is that the S&P is starting to evolve to reflect what’s happening,” said Joe Osha, an analyst at JMP Securities. “You have markets recognizing that these companies matter — that decarbonization is a real thing. It’s important. It has to happen.”
Also included in the index is clean-energy giant NextEra Energy Inc., which this year briefly surpassed oil supermajor Exxon Mobil Corp. in market value.