T1 Energy (TE) Jumps 10.3% on Strong Solar 2-Year Outlook

We recently published 10 Firms Making Effortless 10-40% Gains. T1 Energy Inc. (NYSE:TE) was one of Friday’s top performers.

T1 Energy rebounded by 10.26 percent on Friday to finish at $8.17 apiece as investors took heart from a stronger outlook for the solar industry over the next two years.

In its short term energy outlook, the US Energy Information Administration (EIA) said that it expects power generation from solar and wind to pick up by 21 percent in 2027 from 18 percent last year, while the share of natural gas, coal, and nuclear would fall to 72 percent in the same year from 75 percent in 2025.

A production line equipment assembling solar modules. Photo from T1 Energy

The utility-scale solar sector is projected to grow the fastest, increasing from 290 BkWh in 2025 to 424 BkWh by 2027.

Almost 70 GW of new solar generating capacity projects are set to come online this year and the next, representing a 49 percent jump in US solar operating capacity versus 2025.

Much of the addition would come from Texas, where T1 Energy Inc. (NYSE:TE) is developing its $425 million solar cell fabrication facility.

Called the G2 Austin, the facility is targeted to produce an annual capacity of 2.1 GW of high-efficiency TOPCon solar cells. Construction of the project began last month, with commercial operations targeted by the end of the year.

Meanwhile, T1 Energy Inc. (NYSE:TE) said that the second phase would be capable of producing 3.2 GW of solar cells with a potential room for expansion depending on the demand.

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Disclosure: None. This article is originally published at Insider Monkey.