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As the Dubai COP Climate Meeting looms against the backdrop of a year marked by catastrophic climate events, solar power remains one of the most popular forms of renewable energy. Nevertheless, it was a tough year for solar stocks in 2023, as a strapped U.S. consumer grappled with inflation, and higher interest rates created a tougher lending environment for growth-fueled companies.
That said, the market for solar power is expected to increase. According to this report, the global solar power market is projected to clock an impressive CAGR of 14.9% between 2023 and 2032, reaching roughly $678.81 billion over the next decade.
