From Nasdaq:

The Pentagon, one of the largest office buildings in the world, is installing rooftop solar panels as part of a new clean energy plan from the Biden administration. This initiative could lead to an annual cost reduction of $1.36 million, with 95% of space heating and hot water heating powered by solar initiatives.

The move could put a spotlight on solar and solar stocks, following a rough year for the sector. There are 31 federal facilities receiving grants for clean energy projects, including the Pentagon, under the U.S. Department of Energy’s AFFECT program.

Top solar stocks have seen significant declines over the past year, but with increased attention on solar energy from the federal government, the sector could see a lift. Notably, Tesla, a leading solar company, is exploring ways to expand its solar initiatives and could benefit from increased government demand.

Despite past tensions, the Biden administration’s solar initiative and the Pentagon’s solar project could signal a surge in solar deployment in the U.S. Tesla is one company to watch for increased solar deployment in the country.



Read more: Pentagon Roof Is Going Solar: Could The Move By Department Of Defense, Biden Help Boost Solar Stocks?