A near term solution to the rising energy prices lies in “solar”, says Jim Coulter. He’s the Executive Chairman of TPG Capital.
Coulter’s remarks on CNBC’s ‘Squawk Box’
The Ukraine war is keeping oil prices well above $100 a barrel this year. A more efficient means to respond, as per Coulter, is to go solar. This morning on CNBC’s “Squawk Box”, he said:
The fastest way to get new energy online right now is probably solar. If you try to build big LNG plants, you know how long that takes. We are going to be chasing that. Solar can be put in place in twelve to eighteen months.
Invesco Solar ETF is currently down more than 25% versus its high in November 2021, which means the solar stocks are still trading at a discount.
Clean energy offers better ‘security’
Coulter is convinced the ESG investing at large is here to stay. He is also a proponent of clean energy as it offers better “security” than the conventional oil companies. The business tycoon noted:
One of the most interesting chess boards in investing in global policy is the energy transition. If you are worried about energy security, do you want to rebuild into a petrol world? Probably not.
Earlier this month, President Biden terminated new tariffs on solar panels from Cambodia, Malaysia, Thailand and Vietnam. The exemption will last for two years and will help mitigate the supply pressures on the U.S. solar space.
The post Expert: an efficient solution to higher energy prices is ‘solar’ appeared first on Invezz.
Source: https://invezz.com/news/2022/06/28/expert-an-efficient-solution-to-higher-energy-prices-is-solar/