California slowdown

During the month of June, the Invesco Solar ETF (exchange-traded fund), an ETF that tracks the MAC Global Solar Energy Index, under-performed relative to the S&P 500 and Dow Jones Industrial Average (DJIA). Jesse Pichel, of Roth Capital Partners, points to a decline in sales for California as the industry digests the impacts of the Net Metering 2 (NEM2) rules for exporting self-generated electricity to the grid. Longer term, however, the Inflation Reduction Act presents ongoing opportunity right across the solar supply chain.