Best Solar Stocks To Invest In – The solar energy industry builds and installs equipment to capture energy from the sun and convert it into electricity. Companies in this industry are working to transition the global economy from fossil fuels such as oil and natural gas to renewable energy sources. The transition will take trillions of dollars and years to complete, making the solar industry a compelling opportunity for long-term investors.
Solar energy represents a huge market opportunity. The US needs to invest about $1.2 trillion in solar energy development alone by 2050 to decarbonize the economy. At the same time, the global investment opportunity for solar energy is even greater.
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Many companies are focusing on solar energy and should benefit from the growth of this sector. However, not all have strategies designed to increase value for their shareholders. Three solar energy stocks worthy of investors’ attention are:
Best Renewable Energy Stocks You Should Buy In Uk 2022
One thing that sets First Solar apart from other solar panel manufacturers is its focus on producing a specialized thin film module. In less than ideal conditions, such as low light and hot weather, its panels perform better than competing silicon units. They are also larger, which helps lower the cost per watt. These factors make them ideal for utility solar projects.
First Solar also differentiates itself from its peers in the solar sector by having one of the strongest balance sheets. It typically has more cash than debt, giving it the financial flexibility to continue executing on its strategy of developing and manufacturing thin-film solar modules for utility customers, including expanding its manufacturing capacity. First Solar is in a great position to thrive as the solar industry continues to expand.
First Solar also has big growth planned. The company has sold out its production capacity until 2024 and signed sales contracts until 2026. It is investing heavily in expanding solar panel production capacity to capitalize on the growth of the industry. The investment should enable First Solar to rapidly grow its revenue and profits in the coming years.
Brookfield Renewable is a renewable energy company created by leading alternative asset manager Brookfield Asset Management (NYSE: BAM). The energy provider produces renewable energy, which it sells on the basis of long-term energy purchase agreements. Brookfield’s business model provides consistent cash flow to pay an attractive dividend yield, hence the yieldco designation.
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Brookfield Renewable has a diverse renewable energy portfolio. It is a world leader in the field of hydroelectric power plants. These facilities are complemented by the rapid development of onshore and offshore wind, utility scale and distributed (e.g. rooftop) solar and energy storage platforms.
The clean energy company believes solar could make up the majority of its generation capacity over the next decade — not because it doesn’t see a bright future for wind or hydro, but because it sees more opportunity in solar. Falling costs make solar development projects increasingly lucrative.
Brookfield has made several acquisitions in recent years to expand its solar development capabilities. In 2022, it acquired Urban Grid, a leading developer of solar and energy storage projects in the United States. The acquisition tripled the development of renewable energy in the United States.
Brookfield’s solar development pipeline is expected to grow cash flow per share by 6% to 11% annually through 2026. In addition, they see up to 9% additional growth potential annually from future acquisitions, which should support the company’s plan to increase its high-yield dividend by 5% to 9%. Its dividend growth makes it one of the best renewable energy dividend stocks. At the same time, its overall combination of growth and earnings should enable Brookfield Renewable to deliver an attractive total return for years to come.
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SolarEdge Technologies manufactures energy efficiency devices and inverters used to convert solar energy into electricity. Its components have improved the way solar panels convert DC energy produced by the sun into AC electricity used by the power grid. A system using a SolarEdge energy optimizer will cost less than one using a microinverter built by, say, Enphase Energy ( NASDAQ:ENPH ) , with minimal loss in efficiency.
SolarEdge’s focus on low-cost energy optimizers has allowed it to gain market share from competitors as solar project developers focus on cost. The company has also invested in the acquisition and development of new energy storage and energy management products, as well as smart modules that will help it increase its average revenue per installation.
SolarEdge complements its market leadership position with a strong cash-rich balance sheet, giving it the financial flexibility to invest in expanding manufacturing capacity and technologically ahead of the competition.
Its strong balance sheet has also given SolarEdge the flexibility to expand into other parts of the smart energy market. The company has made investments and acquisitions in storage, electric vehicle (EV) charging, batteries, uninterruptible power supply systems (UPS), electrical circuits and network service solutions. These moves could accelerate its growth in the coming years and position SolarEdge for success as it works to take advantage of the fast-growing clean energy sector.
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Solar energy was already on track to grow significantly before the election of President Joe Biden. However, with his promise to put the United States on the path to a zero-emissions future, his administration could encourage expansion of the sector. He has set a bold goal for the United States to generate 100% carbon-free electricity by 2035. Biden also proposes increasing tax credits and direct investment to accelerate the transition to clean energy. The parliament has already passed two bills during its administration that could help promote renewable energy development in the country.
As a result, the solar industry could grow even faster in the coming years than current projections suggest. Its potential growth is another reason why investors should consider investing in solar energy stocks. First Solar, Brookfield Renewable and SolarEdge Technologies stand out as some of the best options with strong financial outlooks and visible growth prospects.
Solar energy has the potential to be a good long-term investment. As the trend is expected to accelerate in the coming years, solar energy companies should grow rapidly and thus increase their stock prices.
There are many successful solar companies. This gives investors many good options. Investors may consider using a basket. For example, they could buy some solar component stocks like First Solar, Brookfield Renewable and SolarEdge Technologies, all of which should benefit from the big renewable energy trend. By diversifying their holdings, investors are less likely to miss the overall trend by selecting solar stocks that significantly underperform the sector.
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Matthew DiLallo holds positions at Brookfield Asset Management, Brookfield Renewable, Brookfield Renewable Partners, First Solar and SolarEdge Technologies. Motley has positions in and recommends Brookfield Asset Management and Brookfield Renewable. The Motley Fool recommends Brookfield Renewable Partners, First Solar and SolarEdge Technologies. Motley has a disclosure policy.
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Calculated using the average return of all recommended stocks since Stock Advisor’s inception in February 2002. Returns as of 02/13/2023 As the world transitions from fossil fuels to clean energy, renewable energy stocks may be worth considering in the market. In fact, these companies could potentially be the ones primarily responsible for providing our daily energy needs in the future. With governments taking the initiative to support the clean energy transition, it’s no surprise that many investors are looking for a piece of these renewable energy companies in their portfolios.
Take Canadian Solar (NASDAQ: CSIQ ) as an example. Recently, its subsidiary Recurrent Energy acquired two separate energy storage projects from Black Mountain Energy Storage (BMES). Projects placed on the Electric Reliability Council of Texas (ERCOT) market require 200 MWh of storage capacity each. Canadian Solar appears poised to break into the ERCOT region, which boasts ample wind and solar potential. In short, this would make it a good location for the future development of solar and wind projects. With that said, here are four renewable stocks to watch in today’s stock market.
Best Stocks To Buy Now? 4 Renewable Stocks For Your List
Our renewable energy list today starts with Clearway Energy. The company is one of the largest owners of renewable energy in the country. Impressively, the company has more than 5,000 net megawatts (MW) of installed wind and solar projects. In addition, 7,500 net MW of its assets also include approximately 2,500 net MW of environmentally friendly, highly efficient natural gas generation facilities. And to put it simply, its activities can be divided into traditional electricity generation and renewable energy sources consisting of solar and wind energy.
Last week, the company announced that it had entered into an agreement with Capistrano Wind Partners to purchase its operating wind projects. Capistrano’s portfolio of projects consists of five in detail
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