Photovoltaics US stocks continued to work hard on Friday and continued to write a carnival night.
Sunworks rose more than 18% on Friday, first solar energy rose more than 12%, Ruixin New Energy rose more than 9%, and new energy track stocks rose together, and Tesla rose more than 5%.
Review last week, the cumulative increase of iShares Global Clean Energy ETF was close to 14%, which is the most impressive week since the U.S. stock market in New Energy peaked in January 2021.
And the source of all this comes from the near implementation of the largest climate investment bill in the United States, and the market is "always ready" for this.
Last Wednesday local time, with the support of "thorny" Democratic Senator Manchin, the U.S. Senate Democrats announced a budget settlement bill that includes an energy security and climate spending bill investing $369 billion in the next 10 years.
The bill aims to reduce U.S. greenhouse gas emissions and help it become a major effort made by the U.S. federal government to combat climate change, with the goal of reducing carbon emissions by 40% by 2030.
, of this $369 billion, more than $60 billion will be invested in the new energy manufacturing industry, and the boost to the industry cannot be underestimated.
invests tens of billions of dollars in solar panels, wind turbines, batteries, electric vehicles and other fields, and is considered by the market to be the key force in boosting new energy U.S. stocks.
Faced with this major benefit, the new energy industry is taking active actions.
Among them, the first solar energy, which achieved a cumulative increase of 35% this week, expressed optimistic expectations. The company's CEO Mark Widmar said on Thursday's earnings call that the company will assess the scale of its manufacturing industry in the U.S., reversing previous doubts about uncertainty about U.S. tax and tariff policies, when the company was concerned that it would challenge investment.
In addition, media said that executives of new energy industries such as energy storage said that since the bill achieved a major breakthrough, they have received many consultations from potential customers and partners.
CEO of battery storage company Powin LLC said:
This is a very important signal for the market and companies like ours.
Can the bill be successfully passed this week's vote? The two parties are waiting for the "hard compromise" of Manchin certainly pushes the bill process forward a critical step, but whether it can finally be put on Biden's desk is still the upcoming Senate vote this week.
Currently in the Senate, the Democrats and Republicans compete with each other, each occupying 50 seats. Since Republicans may collectively oppose it, if the Climate Act is to be passed in the Senate, it is likely that it can only adopt a "budget settlement procedure."
. If you want to implement this program, there is a prerequisite, that is, all 50 Democratic senators must vote in favor. Only in this way can the vice president, who is the chairman of the Senate, break the draw and finally pass the bill with a narrow margin of 51 votes.
That is to say, if no Republicans "turned over" during the vote, then there will be no "rebellion" among Democratic senators.
But according to media reports, the situation is quite complicated and not optimistic.
On the one hand, the Republican Party is "unity" and will raise objections to the Senate, trying to overturn the core provisions of the bill under strict settlement rules.
Meanwhile, Republicans also said they will develop an amendment for the upcoming "vote-o-rama" with the aim of cracking down on solidarity within the Democratic Party.
vote-a-rama is "continuous voting", which is a means of obstruction with Senate characteristics, which means setting up obstacles for the other party and slowing down the legislative process by proposing various "procedural means" such as procedural means.
Previously, in March 2021, when conducting a procedural vote on promoting Biden's epidemic relief plan, Republicans "showed their skills" in order to delay the process. Republican Senator Ron Johnson asked the Senate to read the 628-page relief bill in full and aloud, even if it takes nearly 10 hours.
In addition to "procedural means", Republicans are also considering how to "use" a previous request made by Manchin, which is to make separate reforms to the licensing procedures for energy projects while reaching a settlement.
According to media reports, in order to win Manchin's support, Democrats reached an agreement to approve a separate measure aimed at speeding up approval of energy infrastructure, such as gas pipeline construction.
On the other hand, the Democratic Party may not be "iron-solid" within it.
Among them, Arizona moderate Democratic Senator Kyrsten Sinema has not yet expressed his opinion on the bill. Her previous stance against tax increases is different from the Democratic plan to pay for the Climate Act by passing tax increases and government savings.
In addition, New Jersey Democratic Rep. Josh Gottheimer and other blue state lawmakers have previously announced that they will never support a settlement bill that does not increase state and local tax credits.
plus progressive members of the House of Representatives claim that no other plan will be passed except for Bernie Sanders’ $6 trillion budget settlement.
In short, almost any Democratic Party may become a "stumbling block" for the adoption of the proposal, so Biden finally has a long way to go to successfully sign the bill.
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