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.
8. Ormat Technologies, Inc. (NYSE:ORA)
Number of Hedge Fund Holders: 35
Ormat Technologies, Inc. (NYSE:ORA) is one of the best renewable energy stocks to buy now.
As of March 8, 2026, Wall Street’s consensus view on Ormat Technologies was moderately positive. The stock carried a “Moderate Buy” consensus rating from 12 analysts, with an average price target of $129.09, implying roughly 18.6% upside from its recent trading price. The published target range ran from $111 to $143.
On March 3, 2026, UBS analyst Jon Windham lowered his price target on Ormat Technologies to $143 from $148 while maintaining a Buy rating. UBS said Ormat offers an attractive mix of stable cash flow from its existing project base, along with incremental upside from power purchase agreement repricing opportunities and expanding energy storage growth.
The company has seen more favorable analyst activity in recent days. Days before UBS’ report, RBC Capital initiated coverage on Ormat with an Outperform rating and a $130 price target, and Barclays raised its price target to $123 from $108 while maintaining an Overweight rating.
Ormat Technologies, Inc. (NYSE:ORA) is a renewable energy company focused on geothermal power, recovered energy, and energy storage. The company says it develops, builds, owns, and operates geothermal power plants globally.
7. Sunrun Inc. (NASDAQ:RUN)
Number of Hedge Fund Holders: 35
Sunrun Inc. (NASDAQ:RUN) is one of the best renewable energy stocks to buy now.
On March 2, 2026, Goldman Sachs maintained its Buy rating on Sunrun and raised its price target to $24 from $21. The firm said Sunrun ended 2025 strongly, generated nearly $200 million of cash in the fourth quarter, exceeded its full-year guidance, and projected 2026 cash generation of $250 million to $450 million.
For context, Sunrun released its fourth-quarter and full-year 2025 results on February 26, 2026. Fourth-quarter revenue rose 124% year over year to $1.16 billion, while net income attributable to common stockholders reached $103.6 million. Cash Generation was $187 million in the quarter. Management said the results benefited from disciplined margin management, strong upfront net subscriber values, and balance-sheet improvements, including a paydown of recourse debt and higher unrestricted cash. The company also said growth in energy systems and product sales revenue was primarily driven by a transaction signed in the third quarter of 2025 to sell certain newly originated solar and storage systems to a third party.
Sunrun Inc. (NASDAQ:RUN) is a U.S. residential energy company focused on solar, battery storage, and home energy services.
6. Array Technologies (NASDAQ:ARRY)
Number of Hedge Fund Holders: 35
Array Technologies, Inc. (NASDAQ:ARRY) is one of the best renewable energy stocks to buy now.
On March 5, Cantor Fitzgerald reiterated an Overweight rating on Array Technologies and kept its $10 price target. The firm said it remains positive on the company following IRS guidance and its latest earnings results. According to the note, the IRS guidance said solar projects that begin before July 4, 2026, qualify for the clean electricity production credit.
Cantor Fitzgerald said that it could pull projects forward into the first half of 2026 and benefit Array Technologies. The firm also said rising energy prices, cheap panel prices, and growing grid demand should support solid growth in fiscal 2026. At the same time, it flagged broader economic risks and the possibility of a revaluation in AI-exposed power names if planned data center capital expenditures are revised lower. Cantor Fitzgerald added that its fiscal 2027 estimates assume modest growth, adjusted for the elimination of certain tax credits and the potential for lower AI-related capital spending.
Array Technologies, Inc. (NASDAQ:ARRY) is a global provider of solar tracking technology and fixed-tilt systems for utility-scale and distributed generation solar projects.
5. Shoals Technologies Group, Inc. (NASDAQ:SHLS)
Number of Hedge Fund Holders: 36
Shoals Technologies Group, Inc. (NASDAQ:SHLS) is one of the best renewable energy stocks to buy now.
On February 25, 2026, UBS lowered its price target on Shoals Technologies Group to $11 from $12 while maintaining a Buy rating. According to the firm’s note, fourth-quarter results reflected significant headwinds to Shoals’ gross margin profile from shifting product mix, rising input costs, and increasing competition. UBS also said there is potential for significant longer-term upside in the company’s Battery Energy Storage Solutions segment as demand from data center customers rises.
For context, Shoals reported fourth-quarter 2025 revenue of $148.3 million, up 39% year over year, driven by higher sales volumes tied to demand for utility-scale solar projects. Gross profit rose to $46.9 million from $40.2 million, but gross margin fell to 31.6% from 37.6%. The company said the margin decline was caused by higher material costs and $3.3 million in duties and tariffs that were not incurred in the prior-year quarter. Adjusted EBITDA increased to $30.3 million from $26.4 million, while adjusted diluted EPS rose to $0.10 from $0.08.
For full-year 2025, revenue increased 19% to $475.3 million, while backlog and awarded orders reached a record $747.6 million. Shoals said the backlog increase reflected continued demand for its solar products, including growth in new domestic and international markets. For 2026, the company guided for revenue of $560 million to $600 million and adjusted EBITDA of $110 million to $130 million. It also issued first-quarter guidance, citing headwinds in the utility-scale solar market that changed some customer order patterns.
Shoals Technologies Group, Inc. (NASDAQ:SHLS) provides electrical balance-of-system solutions for solar energy, battery energy storage, and related energy infrastructure applications.
4. Clearway Energy, Inc. (NYSE:CWEN)
Number of Hedge Fund Holders: 36
Clearway Energy, Inc. (NYSE:CWEN) is one of the best renewable energy stocks to buy now. As of March 7, 2026, Wall Street’s consensus 12-month price target on the stock stood at $40.14, implying about 6.25% upside from its $37.78 trading price. Analyst targets ranged from $34 to $45, while the stock carried a Moderate Buy consensus based on nine ratings.
That backdrop gives context to Evercore ISI’s March 5 move on the name. On that date, analyst Nicholas Amicucci maintained an In-Line rating on Clearway Energy and raised the firm’s price target to $39 from $34. The updated target brought Evercore’s view closer to the broader analyst consensus.
The cautious increase also came shortly after Clearway reported full-year 2025 results. The company said full-year CAFD reached $430 million, at the top end of its guidance range, and reaffirmed its 2026 CAFD guidance of $470 million to $510 million. Clearway also raised its quarterly dividend to $0.4602 per share on February 17, 2026, giving investors a fresh operating and capital-return backdrop as analysts updated their models.
Clearway Energy, Inc. (NYSE:CWEN) owns a large U.S. power generation portfolio centered on wind, solar, and energy storage, while also operating dispatchable generation assets. The company says its portfolio comprises about 12.7 GW of gross capacity across 27 states, including 9.9 GW of wind, solar, and storage assets.
3. Nextpower Inc. (NASDAQ:NXT)
Number of Hedge Fund Holders: 42
Nextpower Inc. (NASDAQ:NXT) is one of the best renewable energy stocks to buy now.
On March 4, 2026, Nextpower said its Europe unit was showcasing an integrated agrivoltaics solution for the Italian market at KEY, The Energy Transition Expo in Rimini, held from March 4 to March 6. The company said the offering combines its NX Horizon solar trackers with agrivoltaics control software and design services to help developers execute projects in line with Italy’s regulatory, environmental, and agricultural requirements.
According to the release, the platform is designed to support both solar generation and agricultural use on the same land, as Italy pushes to expand renewable power while preserving farm productivity. Nextpower said the solution includes solar tracking systems, advanced control software, and related services as part of a flexible platform for the country’s agrivoltaics market.
The company framed agrivoltaics and distributed solar generation as important tools for balancing land use, agricultural output, and clean energy production.
Nextpower Inc. (NASDAQ:NXT), formerly Nextracker, designs and supplies technology and solutions for solar power plants, including trackers, foundations, electrical balance-of-system products, software, and related services.
2. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 47
Enphase Energy, Inc. (NASDAQ:ENPH) is one of the best renewable energy stocks to buy now.
On March 3, 2026, Enphase Energy announced a new partnership with Capital Good Fund to expand deployments of its IQ microinverter products for small commercial and residential solar projects in the United States. The companies said the partnership is expected to support about 24 megawatts of projects across Georgia and Pennsylvania, with most of the volume tied to mission-aligned commercial installations.
Capital Good Fund, a nonprofit community development financial institution, operates the BRIGHT program, which offers low-cost solar power purchase agreements to nonprofits, houses of worship, affordable housing developments, municipal facilities, and small businesses, along with solar leases for low- and moderate-income homeowners. Enphase said the agreement deepens an existing relationship between the two organizations.
The company said the expanded deployment will include its IQ8P-3P and IQ9N-3P microinverters supplied from manufacturing facilities in the United States. Enphase also noted that it recently began production shipments of its IQ9 Commercial Microinverter in the U.S., describing it as its first microinverter built with gallium nitride technology and designed for three-phase 480Y/277 V grid configurations.
Enphase Energy, Inc. (NASDAQ:ENPH) is a global energy technology company that develops semiconductor-based microinverter systems, battery storage, and related solar energy products and software.
1. First Solar, Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 79
First Solar, Inc. (NASDAQ:FSLR) is one of the best renewable energy stocks to buy now.
On March 2, 2026, Morgan Stanley maintained its Overweight rating on First Solar and cut its price target to $230 from $275. The firm said First Solar’s margin recovery appears slower than previously expected, and that 2026 pricing looks softer. Public summaries of the note also said Morgan Stanley lowered its 2026 shipment forecast to 17.6 gigawatts from 19.7 gigawatts and reduced its 2026 average selling price estimate to $0.287 per watt from $0.315.
For context, First Solar on February 24, 2026, reported fourth-quarter net sales of $1.7 billion and full-year 2025 net sales of $5.2 billion, up from $4.2 billion in 2024. The company said fourth-quarter sales increased from the prior quarter mainly because module volume sold increased, while full-year growth was driven by a 24% rise in third-party module volume. Fourth-quarter diluted EPS was $4.84, and full-year diluted EPS was $14.21.
First Solar ended 2025 with a $2.4 billion net cash balance, up from $1.5 billion at the end of the prior quarter. Management said the increase was primarily due to additional proceeds from sales of Section 45X tax credits and operating cash flow, partly offset by capital spending tied to its Louisiana facility. For 2026, the company guided for net sales of $4.9 billion to $5.2 billion, volume sold of 17.0 GW to 18.2 GW, and adjusted EBITDA of $2.6 billion to $2.8 billion.
First Solar, Inc. (NASDAQ:FSLR) designs and manufactures thin-film photovoltaic solar modules and serves customers mainly in the United States and other select international markets.
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