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The increasing frequency of droughts, a record number of wildfires, and floods have led governments worldwide to take aggressive steps to transition their countries to renewable-energy-based societies. While producing energy from renewable sources is still expensive, solar and wind energy costs have declined considerably over the past few years. Furthermore, China has emerged as a global leader in renewable energy and is currently the world’s most significant wind and solar power producer and the largest domestic and outbound investor in renewable energy. According to a Facts & Factors report, the global renewable energy market is expected to grow at an 8%-plus CAGR between 2021 – 2026. Therefore, both DQ and JKS should benefit.
JKS’ shares have gained 26% in price over the past three months, while DQ has returned 6.5%. However, DQ’s 1.1% gains year-to-date are higher than JKS’ negative returns. Furthermore, DQ is the clear winner with 28.2% gains versus JKS’ negative returns regarding their past year’s performance.
