Midterm Blue Wave Hands China a Major Victory as CCP Energy Stocks Soar
Chinese solar and battery makers’ shares jumped Thursday on investor bets that Democrats’ new hold on Congress could mean more federal help for green energy.
Democrats won both chambers of Congress in Tuesday’s midterm elections. Shares of inverter maker Sungrow Power climbed 7.45 percent, Reuters reported.
The Democratic wins could open the door to reviving renewable tax credits, according to the outlet.
“The U.S. is a large and highly profitable market for solar and energy storage, while Chinese suppliers dominate both sectors. Any reduction in trade barriers could create meaningful upside,” Morningstar analyst Cheng Wang said, according to Reuters.
Wang said that the gains had more to do with sentiment than with any concrete proposals, according to Reuters.
Shares of battery manufacturer CATL rose 5.17 percent, and the STAR new energy index in Shanghai was up 6.46 percent in morning trading, according to Reuters. Trina Solar, which makes panels, was up 5.51 percent.
Daqo New Energy, a polysilicon producer whose U.S. shipments have been restricted over forced labor claims, rose 9.87 percent, the outlet reported.
Signing you in…
Please keep this page open. The results will appear here.
Check your email to count your vote
We sent a confirmation link to .
Click Confirm Your Vote in that email to count your vote and unlock the results.
Your vote has not been counted yet. If the email hasn't arrived, check your spam or junk folder.
Sungrow, the Office of the U.S. Trade Representative and the Chinese Embassy did not immediately respond to the Daily Caller News Foundation’s requests for comment.
CATL is also on the Pentagon’s list of “Chinese military companies,” where it has been since January 2025, according to the Federal Register.
Section 301 tariffs on Chinese solar cells jumped to 50 percent under a Biden administration review in 2024, and those on lithium-ion batteries from China for uses other than electric vehicles climbed to 25 percent in January, a federal notice shows.
The trade representative’s office said in an Oct. 7 notice that the China tariffs first imposed in 2018, as modified, “will remain in effect, subject to possible further modifications.”
President Donald Trump holds veto over any bill the new Democratic-controlled Congress — set to take office in January — passes.
He said on a podcast published Monday that he would become “Mr. Veto” if Democrats took control of Congress, NPR reported.
Jefferies analyst Alan Lau cautioned that more support for renewables may not do much to open the U.S. market to Chinese exporters, Reuters reported.
He said that the Biden administration opened many anti-dumping, countervailing duty and Section 301 investigations into Chinese products, according to the outlet.
The Federal Communications Commission (FCC) put foreign-produced power inverters, the devices that tie solar panels and battery systems into the electric grid, on its Covered List July 28, the agency announced.
That bars new models from getting FCC equipment approval, but stores can still sell ones the agency already approved.
“Following President Trump’s leadership, the FCC will continue to do our part to secure America’s critical supply chains and, with today’s action, the FCC is acting in lock step with our national security agencies to do just that,” FCC Chairman Brendan Carr said in a July 28 statement.
The commission narrowed the list entry Aug. 20 after the Department of War found that some foreign-made inverters that qualify for clean energy tax credits pose no unacceptable risk, according to an FCC notice.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. Advertise Today.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.
