11 Best Green Energy Penny Stocks to Buy Right Now

2. SolarBank Corporation (NASDAQ:SUUN)

Share Price as of July 14: $1.52

Stock Upside Potential as of July 14: 223.68%

Number of Hedge Fund Holders: 1

SolarBank Corporation (NASDAQ:SUUN) is one of the best green energy penny stocks to buy right now. On July 8, D. Boral Capital initiated coverage of the stock with a ‘Buy’ rating and a$4 price target. The firm has echoed the company’s transition from an engineering and construction model to one that incorporates asset ownership.

Consequently, the research firm expects the transition to trigger a significant increase in the company’s recurring revenue. It expects growth beyond the 32MW in power capacity that generated $9.2M in the last 12 months. D. Boral Capital is optimistic that the company will reach over $100 million in recurring revenue by 2030 as it continues to develop, own, and operate solar photovoltaic farms and battery energy storage systems.

Boral Capital expects a significant upside following SolarBank’s acquisition of Solar Flow, which ended up adding 70 contracted solar assets, generating significant recurring revenue. In addition, the firm insists that the company is well-capitalized for expansion, given its $190 million in total assets and a strong, diversified project pipeline.

SolarBank Corporation (NASDAQ:SUUN) develops, owns, and operates renewable and clean energy projects. It primarily focuses on solar power. It sells clean energy to utilities, commercial, industrial, municipal, and residential customers.