Renewable energy stocks tumble in wake of Trump's election victory: reports

President-elect Donald Trump's dominant victory in Tuesday's election, finalized by winning Wisconsin for a second time, sent renewable energy stocks tumbling Wednesday, according to reports. 

Marketwatch reported that Trump is "expected to upend green policies implemented by the current administration, which include solar tax credits and incentives that were part of incumbent President Joe Biden’s Inflation Reduction Act.

First Solar, Enphase Energy, AES Corp, Sunrun, Array Technologies, NextEra Energy and NRG Energy, the namesake of the Houston Texans' stadium, fell by 4-18% early Wednesday, with most of that 10% and up. The iShares Global Clean Energy exchange-traded fund and Invesco Solar ETF both fell around 10%.

This is a "strategic buying opportunity by savvy investors," CEO Nigel Green of deVere Group, an independent financial advisory and asset management organization, said in a press release Wednesday that pointed out two more plummets: Ørsted at 14% and Vestas at 10%.

"Trump’s promise to stop offshore wind projects on ‘day one’ of his presidency has raised concerns among renewable energy companies, especially those heavily invested in the offshore wind market," but that "overlooks the broader, global trend toward clean energy" and the "incredibly positive" long-term outlook for the sector, he said.

"This presents a significant opportunity for investors to buy into the sector at a discount while the market remains focused on short-term uncertainties," Green said.