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A recent study from the National Renewable Energy Laboratory (NREL) highlights the significant potential of floating solar panels on federally controlled reservoirs to support U.S. energy goals. The research quantifies, for the first time, the technical capacity of these reservoirs to generate up to 1,476 terawatt hours of solar energy annually, enough to power approximately 100 million homes. Despite challenges such as human and wildlife activities, the study offers precise data to aid in project planning and contribute to the broader energy transition. Floating solar installations, which do not compete for land and aid in water conservation, could complement existing hydropower systems, enhancing grid reliability. The study aims to assist developers in navigating environmental and regulatory landscapes while exploring additional locations, including smaller reservoirs and ocean sites.

In other trading, Tesla was a notable mover up 8% and finishing the session at $428.22. At the same time, Barito Renewables Energy trailed, down 6% to finish the session at IDR9,075.00.

Tesla's diverse ventures into autonomous vehicles, energy storage, and robotics could enhance financial stability and market penetration. Discover more about this investment thesis in our detailed narrative on the company.

You might want to revisit our Market Insights article titled "The Opportunities In The Nuclear Resurgence," which explores the growing recognition of nuclear energy as a key player in global energy transition, driven by increasing demand for reliable, clean energy amidst regulatory and technological advancements.

Best Energy Transition Stocks

• Applied Materials finished trading at $178.38 up 2.7%.

• First Solar ended the day at $186.82 up 0.8%.

• Vistra settled at $169.17 down 0.8%.

Make It Happen

• Explore the 140 names, such as WEG, Empresas Copec and Eiffage, from our Energy Transition Stocks screener here.

• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.

• Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.