George Hershman

"Who hires you? ... Independent Power Producers. Clearway Energy companies like that." If the service provider (MW) is seeing record demand and IPOing at the top of its range, it implies their customers (the IPPs) are aggressively expanding capex and securing lucrative power purchase agreements with data centers. Long the developers owning the assets. Execution risk on large-scale project development.

Host notes these assets are near highs; Hershman confirms "Solar is booming... it is the fastest growth energy issue" and "Tailwinds in this market because of load demand." The market fears regarding political headwinds are overstated because the economic case (lowest cost) and speed (fastest to market) make utility-scale solar essential for powering the re-industrialization of the US (AI, manufacturing). This sustains the bull run for the broader sector. Long the sector leaders and ETF. Higher interest rates increasing project financing costs.