Wells Fargo: U.S. Residential Solar Sector To Outperform in 2024

Last year proved to be a banner year for the U.S. solar sector, with installed capacity rocketing 55% Y/Y to a record 33 GW, driven by robust growth by residential solar and high energy prices. It’s something of a minor miracle that the sector was able to record that kind of growth at a time when interest rates were going through the roof. The 10-year treasury yield jumped from half a percentage point in 2020 to just under five-percentage points in November 2023 as the Federal Reserve hiked rates to combat stubbornly high inflation…