The future looks bright for solar and other renewable energy technology.

FirstSolar, Enphase and SunPower are among the renewable energy stocks that are benefiting from a much friendlier administration in the White House, whose agenda includes tackling climate change and bolstering green energy. Their stocks soared last year, far outpacing the wider market’s gains.

On his first day in office, President Joe Biden rejoined the 2015 Paris climate agreement, revoked a permit for the Keystone XL oil pipeline and halted oil and gas leasing in Alaska’s Arctic National Wildlife Refuge.

“Part of what drove that move last year was the idea there would be a bit more policy support for these initiatives going forward,” said David Lebovitz, global market strategist at J.P. Morgan Asset Management.

Renewable power sources such as wind and solar now make up 12% of all energy generation, up from 4% in 2011. During the same period, energy generated from hydroelectric sources remained at 8%, while coal fell to 24% from 44%.

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