(Bloomberg) -- This week’s selloff in renewable energy stocks following Donald Trump’s election victory has been a boon for short sellers betting against clean energy.

Most Read from Bloomberg

• Key Ballot Initiatives and Local Races Highlight Views on Abortion, Immigration

• Paris Restricts Through Traffic in City Center

• From Housing to Immigration, Key Ballot Initiatives and Local Races to Follow

The biggest renewables stocks fell sharply following the Republican Party’s resounding election win. The plunge represents a paper gain of $1.3 billion for short sellers, according to Bloomberg calculations based on shares out on loan for a global basket of clean energy companies.

Plug Power Inc., SolarEdge Technologies Inc., Bloom Energy Corp., First Solar Inc. and Enphase Energy Inc. are among the most shorted renewables stocks, according to the latest data from S&P Global Market Intelligence, with more than 5% of their market capitalization out on loan. US solar is one of the sectors with the biggest short positions across the market.

In Europe, Solaria Energia y Medio Ambiente SA, Nordex SE and Orsted A/S are among the most shorted renewable energy stocks, the data show. The drop since Monday’s close on a European basket of renewable stocks represents a paper gain of $440 million for short sellers, according to Bloomberg calculations.

--With assistance from Jan-Patrick Barnert.

Most Read from Bloomberg Businessweek

• What Looked Like a Toss-Up Turned Into a Red Wave. Did Pollsters Get It Wrong?

• Trump Set to Move Courts Further Right, Deepening Judicial Clout

• What Does Trump’s Victory Mean for Elon Musk?

• Even Some High-Income Americans Can’t Afford New Cars Anymore

• The Stakes Are Sky High for Elon Musk

©2024 Bloomberg L.P.