Solar Stocks To Invest In

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Solar stocks have gone through many booms and busts as investors dive into them with excitement to see their potential diminish further. Unlike the electric vehicle market, which is finally gaining momentum, solar companies—and renewable energy companies in general—have yet to reach critical mass where widespread adoption is inevitable. However, for patient investors who pick the right stocks, solar contracts can bring big returns on investment, especially if legislation favors the industry with a tailwind.

Solar Stocks To Invest In

Here are the top 10 solar stocks for investors to look at with a financial advisor who can provide some perspective on risk and reward:

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Enphase Energy is the most promising solar company for many investors because of its rapid growth in sales and earnings. Analysts are behind the stock, giving it a “buy” consensus and offering a 12-month price target of $300.21, which is nearly 35% above the February close of $222.93. 3. The company offers a complete home solar energy solution that includes Everything from solar energy generation to its storage is on one platform. In 2022, a tough year for the stock market, Enphase Energy gained 57%.

Sunrun is the largest solar company when it comes to installing panels, which makes it useful for those who want to touch the ground. The company acquired its biggest competitor Vivint in 2020, making Sunrun the No. 1 installer. Most Sunrun customers rent their panels from the company, rather than buying them outright. The stock is up 15% in 2023, and its price-to-earnings ratio of 83 suggests it may be overvalued. However, analysts have a “buy” rating on the company and expect a return of 64% over the next 12 months.

First Solar is one of the few solar companies that doesn’t rely on polysilicon to make its panels, which helps avoid some of the supply chain issues that plague its competitors. The first solar cell uses cadmium-telluride technology, which means the company can avoid the problems surrounding China’s Xinjiang region, as noted by US News & World Report. According to Ecofin portfolio manager Max Slee, quoted in US News, these factors mean that “we expect First Solar to increase global market share in solar panels and in some regions will be priced higher than more conventional crystalline silicon competitors.”

The stock is up 143% year-to-date, and analysts expect it to rise another 3% over the next 12 months.

Best Solar Energy Stocks To Invest In

Array technology offers investors the opportunity to bet on their technology rather than the density of the solar panels themselves. The company’s main competitive advantage is its patented tracking technology, which turns the solar panels toward the sun as they move across the sky, thereby improving the efficiency of the panels. In January 2022, Array acquired STI Norland, Europe’s leading solar monitoring company, increasing its competitive advantage. In 2023, the stock has appreciated by almost 4%.

Daqo New Energy Corp. Offer investors an opportunity to invest in the supply chain of solar panels instead of building the panels themselves. Chinese companies that mine the component used to make solar panels, namely polysilicon, are making profits. In the third quarter of 2022, the company will have a gross profit of almost $1 billion. Analysts see nearly 45% growth over the next 12 months after predicting a year-to-date rise of around 9% in 2023.

Investors looking for a slightly different perspective on the solar industry might want to consider Hannon Armstrong. Instead of playing directly in solar or manufacturing, Hannon Armstrong is a real estate investment trust that owns companies in the renewable energy space. Therefore, this stock is very much a dividend play, although it also offers opportunities for capital appreciation. Hannon Armstrong currently yields 3.98% and shares are up nearly 35% year-to-date.

The solar cell has long been a problem for the industry. Although solar panel technology continues to advance, storing the energy produced is becoming an issue. SolarEdge Technologies is one of the companies working to solve this problem, offering both traditional solar and battery storage services. As mentioned in US News & World Report, Ecofin portfolio manager Max Slee said, “The company’s in-house battery production should provide attractive earnings growth.”

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Investors looking for exposure north of the border may be interested in Canadian Solar Inc., which makes solar panels for large projects. The company’s revenue is set to explode, reaching $1.93 billion in the third quarter of 2022, up 57% year-over-year. Analysts have a “buy” rating on the stock and see gains of around 2% over the next 12 months.

Another way to play the solar space is to invest in financial companies that provide financing to the industry. In this regard, Sunlight Financial Holdings Inc. Could be an interesting play. The company is certainly speculative, having only entered the market in 2021 as a special purpose acquisition company, trading in the low single digits and down about 57% over the past year. However, for those with a high level of risk tolerance, analysts see a potential 12-month upside of 55% and their consensus is that it is a buy.

SunPower is a residential provider of solar panels that also installs and finances them. When the company acquired Blue Raven Solar in 2021, CEO Peter Faricy said the company “doubled residential growth.” In the company’s Q3 2022 results, it reported record revenue and earnings. CNET also named it a top solar company.

The solar sector may still have a long way to go before mass adoption, but it could give investors with patience and a risk tolerance a good chance to wait for the best stocks.

New Charts On Renewable Energy Stocks

Information correct as of February 6, 2023 and subject to change. Information on analyst ratings comes from Yahoo Finance.

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After B.A. John Csiszar, a business major in English from UCLA, has worked as an enrolled agent in the financial services industry for 18 years. Csiszar, on the other hand, earned both a Certified Financial Planner and Registered Investment Advisor, in addition to his life agent license, while working for both a major Wall Street wire house and his own investment advisory firm. During his tenure as an advisor, Csiszar managed over $100 million in client assets while providing hundreds of clients with personalized investment plans.

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Best Green Energy Stocks To Invest In Now

Renewable energy stocks have rebounded in recent months as the prospect of a friendlier presidential administration has lured investors. But no matter who wins the White House, there are opportunities for renewable energy investors.

We asked three of our ish contributors for their top picks regardless of who won the election, and SunPower ( SPWR -3.67%), First Solar ( FSLR -2.06%) , and Brookfield Renewable ( BEP -1.04%) came out on top. from the list. That’s the reason.

Travis Hoium (SunPower): No matter who wins the election, the trend of more people putting solar panels on their roofs will continue. As the cost of solar panels decreases and electricity costs rise, residential solar companies are growing, and SunPower is uniquely positioned to take advantage of this potentially lucrative market.

SunPower provides US solar installers with the services and hardware they need to sell and install rooftop solar panels nationwide. Unlike competitors like Sunrun (RUN -6.92%) , the company doesn’t install the solar panels itself, but does the legwork through a third-party agent. In the long term, this will allow SunPower to focus on scalable services for installers and new technologies, such as energy storage, to match solar installations.

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Given SunPower’s No. 1 market share position, the commercial market should not be overlooked. The company doesn’t make a lot of money

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