US solar energy stocks rise in after-hours trading as expectations for IRA policy extension increase

On November 4, US photovoltaic concept stocks surged in the night session. Enphase Energy and Sunrun rose over 6%, First Solar rose over 4%, and Nextpower and SolarEdge Technologies advanced over 2%. As expectations strengthen for the extension of the IRA policy, news indicates that the Democratic Party performed strongly in the US midterm elections. The market generally believes that the Democratic Party's advantage in both congressional and local elections will greatly consolidate and extend green energy subsidies and policy support outlined in the Inflation Reduction Act (IRA).