Chinese Green Energy Stocks Soar After Democrats Win Congress

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.

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.