Brief

Solar, wind, EVs, battery tech. Betting on the energy transition accelerating.

The IRA (Inflation Reduction Act) committed $370B to clean energy. Global solar installations hit record highs in 2024. But the sector has been crushed by rising rates (capital-intensive businesses hate high rates) and Chinese overcapacity crashing panel prices. Enphase and SolarEdge down 70%+ from peaks. This is a deep contrarian bet that the energy transition is inevitable and current prices discount too much pessimism.