Renewable Energy with Renewable Profits? Investors are taking interest in the future of energy, specifically solar stocks. Consumers are begging for new solutions to powering our homes and businesses, solar energy has emerged as an affordable, reliable, low maintenance option. In the last decade, the cost of going solar has dropped dramatically. For those who can take advantage of tax incentives like the solar investment tax credit (ITC), solar can pay off big. The stock market has many solar investing options to explore.
When it comes to investing in this growing industry, solar has many points along the supply chain that offer promise.
- Manufacturers of solar panels and other solar energy system components
- Solar panel installers
- Large-scale solar farm operation
The goal of these companies is in line with a global economic goal of transitioning away from fossil fuels while replacing them with renewable energy sources like solar. This is a long-haul project which makes these companies attractive to long-term investors and portfolio managers.
In fact, with the solar energy market growing rapidly, the National Renewable Energy Laboratory stated the industry will add 10 gigawatts (GW) of additional solar capacity each year through 2022. That translates to an average of 18-20 GW/year in the 2021-2030. With the cost of solar on the decline, more are turning to solar as the most affordable source of bulk power in the years to come.
Let’s take a look at some of the solar companies well-positioned to do well, what to look out for, and who’s got their shareholders top-of-mind.
Here are Some Solar Stocks to Watch in 2021
1. First Solar (NASDAQ: FSLR)
First Solar is a thin-film solar panel manufacturer
2. Brookfield Renewable (NYSE: BEP and NYSE: BEPC)
Operates large-scale solar like solar farms, as well as wind farms and hydroelectric power plants
3. SolarEdge (NASDAQ: SEDG)
Manufactures solar panel power optimizers
Affordable Solar Stocks on the Rise
These promising tickers are a low price get that could soon see a big return. The companies are established and growing.
1. Canadian Solar, Inc. (CSIQ)
Designs, manufactures and sells solar energy system components and solar system kits, as well as offering operation and maintenance services. Canadian Solar hit is 52 weeks high in January of this year at $67.39.
2. SunPower Corp. (SPWR)
Designs and builds silicon photovoltaic (PV) cells and related solar parts. SunPower posted net income of $474.0 million compared to a net loss of $7.7 million in FY 2019. Total revenue rose 3.0%.
Highest Profit Growth in Solar Stocks
These stocks show the most profit growth with the highest year-over-year (YOY) earnings per share (EPS) growth (or the lowest decline in the most recent quarter). While times have been tough for many businesses, these have come through strong, signaling good management, a good business model, or both.
1. SunPower Corp. (NASDAQ: SPWR)
EPS growth is 6,830%
2. Daqo New Energy Corp. (NYSE: DQ)
Manufacturers polysilicon used in solar technology. EPS growth is 285.7%
3. ReneSola Ltd. (NYSE: SOL)
International solar project operator focused on development, construction management, and financing of solar power projects. EPS growth remained relative stable at -30.7%
Solar Stocks on the Move
These tickers are ticking up with more momentum than the rest with higher total returns over the last year.
– SunHydrogen Inc. (OTCMKTS: HYSR)
Formerly HyperSolar, currently developing a system to produce renewable hydrogen energy using solar and water. In mid-February, the company announced an agreement with SCHMID Group, a German-based company that manufactures electronics and energy systems. Together they are developing a process platform to manufacture SunHydrogen’s Gen 2 NanoParticle hydrogen panels in masse. This is promising technology that can be a game changer for renewable energy.
– Sunworks Inc. (NASDAQ: SUNW)
This solar operations and development company ushered in a new CEO, Gaylon Morris, who brings deacdes of experience leading similar companies through periods of transition or growth.
– ReneSola Ltd. (NYSE: SOL)
– Invesco Solar ETF (TAN)
The world is changing, and so is the world of investing. Exploring sustainable companies to invest in is more popular than ever as many see the long-term benefits of this clean, affordable energy. These companies are focused on the future of energy worldwide and bring to the industry a purpose and business plan that can boost your bank account.
This blog post was written with Fiverr Business. I use Fiverr to find specialists who can write on subjects they are personally involved in. This author is a solar evangelist I asked to write a post about the best solar companies for investing. She used research to find some of her favorite companies; of course, when you’re reading this post it may be old news, but in mid 2021 it was relevant to solar energy growth stocks that were worth looking at. I’m not a professional investor, and neither is she, I can’t tell you where to invest your money, I’m a technology consultant. Do your own research and have fun while you’re looking into which solar stocks will be a good option for investing.
You can find Commercial Solar as a Business Investment about solar investing for businesses also written by Colleenfallon.
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The Information above is for educational purposes only and should not be considered individual investment advice or recommendations to invest in any particular security. We believe the information provided to be reliable but offer no warranties on the accuracy or completeness. This material is not intended to be a complete analysis of all material facts regarding any country, region, market, industry, investment, or strategy.
