The renewable energy industry has moved from steady expansion to mass deployment over the past decade, with solar and wind now driving most new power-sector growth worldwide. According to the International Renewable Energy Agency (IRENA), global renewable power capacity reached 4,448 gigawatts at the end of 2024, up 585 GW from a year earlier, marking a 15.1% annual increase. Solar alone accounted for 452 GW of new additions in 2024, while wind added 113 GW. Together, solar and wind made up 96.6% of net renewable capacity additions during the year.
That buildout is now showing up more clearly in electricity generation. Ember reported that clean power surpassed 40% of global electricity generation in 2024, supported by record growth in renewables, especially solar.
Where the industry stands today is this: renewables are no longer just an incremental part of the global power system. IRENA said renewables represented 46.4% of total installed global power capacity at the end of 2024. That indicates the sector’s role has expanded from supplementing conventional generation to accounting for nearly half of the world’s installed power capacity.
The next phase still points to further expansion. In its Renewables 2025 report, the International Energy Agency (IEA) projected that global renewable power capacity will increase by almost 4,600 GW between 2025 and 2030, roughly double the deployment seen in the previous five years. Nearly 80% of that expansion is expected to come from solar PV. The implication is that the industry’s main constraint is increasingly not basic cost competitiveness, but the pace of grid expansion, storage deployment, and system integration.
With that backdrop, let’s explore the 10 Best Renewable Energy Stocks to Buy Now.
Methodology
We used screeners to identify pure-play renewable energy stocks and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. We also assessed the popularity of these stocks among analysts and elite hedge funds. We then ranked these stocks by the number of hedge funds holding stakes in each stock.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10. Canadian Solar Inc. (NASDAQ:CSIQ)
Number of Hedge Fund Holders: 20
Canadian Solar Inc. (NASDAQ:CSIQ) is one of the best renewable energy stocks to buy now.
On February 27, 2026, it was reported that Recurrent Energy, a subsidiary of Canadian Solar Inc. (NASDAQ:CSIQ), signed a 10-year power purchase agreement with a major Italian fashion group tied to the Pozzolo Project in Piedmont, Italy. Recurrent Energy’s own announcement, dated February 25, 2026, said the agreement covers 80% of the energy produced by the 8.05 MWp solar PV plant.
The company said the plant recently entered commercial operation and is located in an industrial area. Under the agreement, the counterparty is expected to receive about 10,864 MWh of clean electricity per year, along with the related Guarantees of Origin. Recurrent Energy also said the project is expected to avoid more than 2,500 tons of CO2 annually.
Recurrent Energy said the Pozzolo Project is its eighth connected project in Italy and its first in northern Italy, bringing its operating portfolio in the country to 132 MW. Chief Executive Officer Ismael Guerrero said the agreement supports renewable energy development in the region and reflects the company’s continued expansion in Italy and globally.
Recurrent Energy is a subsidiary of Canadian Solar Inc. (NASDAQ:CSIQ), which is one of the world’s largest solar technology and renewable energy companies. Canadian Solar says it has shipped 170 GW of solar modules and 15.7 GWh of battery storage, while Recurrent Energy’s pipeline stands at 25 GWp of solar projects and 80.6 GWh of energy projects.
9. XPLR Infrastructure, LP (NYSE:XIFR)
Number of Hedge Fund Holders: 28
XPLR Infrastructure, LP (NYSE:XIFR) is one of the best renewable energy stocks to buy now.
On March 5, 2026, Evercore ISI downgraded XPLR Infrastructure to In Line from Outperform and cut its price target to $11 from $15. The firm said the company’s balance-sheet simplification will take time and that investor enthusiasm around the turnaround story has faded as the market has shifted more toward growth-driven strategies. Evercore also said the units may remain rangebound until XPLR can revisit its growth algorithm.
The downgrade came after XPLR reported fourth-quarter 2025 adjusted EBITDA of $396 million, which came in below consensus estimates, while free cash flow before growth (FCFBG) was $111 million and topped Street expectations. For the full-year 2025, the company posted adjusted EBITDA of $1.878 billion and free cash flow before growth of $746 million. Management said the quarter was affected by softer wind resources, at 95% of the long-term average, and the absence of certain one-time items, while the full-year results reflected stable contracted performance despite portfolio pruning and weather variability. XPLR reaffirmed its 2026 guidance for adjusted EBITDA of $1.75 billion to $1.95 billion and free cash flow before growth of $600 million to $700 million.
XPLR Infrastructure, LP (NYSE:XIFR) is a limited partnership based in Juno Beach, Florida, with a portfolio of contracted clean energy assets across wind, solar, and battery storage projects in the United States.
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