Solar Power Stocks Fall on Concerns About Potential Hackers

Shares of star powerfulness companies, including Enphase Energy (ENPH) and First Solar (FSLR), dropped Monday pursuing a study that national officials person raised concerns astir nan imaginable of hackers striking nan renewable power sector.

CNBC pointed to a Private Industry Notification (PIN) sent to businesses this period by nan Federal Bureau of Investigation (FBI) informing that "malicious cyber actors whitethorn activity to disrupt powerfulness generating operations, bargain intelligence property, aliases ransom accusation captious for normal functionality to beforehand geopolitical motives aliases financial summation wrong nan US renewable power industry."

The FBI noted that legislation—including nan Inflation Reduction Act of 2022—that encourages description of renewable power will thrust nan manufacture to support pace, "providing much opportunities and targets" for hackers.

FBI Memo Explains How Criminals Could Attack Solar Infrastructure

The memo specifically explained really criminals could onslaught star infrastructure, and outlined a bid of steps companies tin return to protect themselves "in consequence to these caller activity trends."

Shares of Enphase and First Solar were down 5% and 3.4%, respectively, arsenic of 3 p.m. ET Monday. SolarEdge Technologies (SEDG) shares fell 4% and Canadian Solar (CSIQ) was down 2%.