Shares of power producers rose as traders rotated into defensive sectors in light of disappointing earnings from some major companies.
There’s likely to be “a significant reduction in the cost to produce clean power, which should catalyze a dramatic increase in adoption,” said analysts at brokerage Morgan Stanley, in a note to clients.
“The team does not believe that this is captured in consensus thinking, where green energy costs are expected to inflate rather than deflate and clean energy adoption remains slow.
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