While COVID-19 pandemic has put the markets on a virtual standstill, a couple of solar companies have provided bright spots.

Though part of that bullish outlook is due to Europe's stronger sustainability legislation, it also provides some positive news for a market struggling to find some. 

Canadian Solar's Earnings Report

The quarterly earnings per share for the quarter that ended in December 2019 beat the Zacks Consensus Estimate of $0.55, amounting to $1.04 per share. Over the last four quarters, the company managed to top consensus EPS estimates three times. Revenue amounted to $919.71 million, also exceeding the Zacks Consensus Estimate by 5.79%. This is also an increase compared to one year ago when it amounted to $901.04 million.

A Solar Stimulus

Coronavirus Could Get America to Pass Its Biggest Climate Deal Yet

The pandemic could further increase the pressure for legislation, with the EU's Renewable Energy Directive leading the way.

According to a 2019 study in the journal Environmental Research Letters, replacing existing energy infrastructure depends on two factors. The first is making the price of renewable energy more affordable and widely available to the masses. The second is enacting government policies that call for strict targets on CO2 emissions. 

Though action on climate change in Washington DC is happening in baby steps, what we really need is a gigantic leap. The world needs a revolutionary bill that would authorize billions of dollars to redirect the economy away from fossil fuels and toward a low-carbon future. And historically, those kinds of bills only happen on the heels of a crisis. The coronavirus pandemic that is set to destroy the world's economy is one of them. So why not now?

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