In this article, we discuss the 12 most promising clean energy stocks according to Wall Street analysts.
The overall outlook for the clean energy sector continues to baffle investors. For example, the International Energy Agency (IEA) expects clean energy technologies to attract about $2.2 trillion in investment in 2025, significantly outpacing investments in fossil fuels. However, latest reports from news agency Reuters indicate that the agency has cut its global forecast for renewable power growth by 2030 by 248 gigawatts from last year’s outlook, citing weaker prospects in the United States and China, even as solar power continues to drive record additions. The IEA has forecast that global renewable power capacity is now expected to rise by 4,600 GW by 2030, down from its six-year forecast of 5,500 GW in 2024, with solar accounting for about 80% of the increase.
In India, Reuters claims that at least 3–4 gigawatts of Indian solar projects may be cancelled after the government directed clean energy agencies to reissue tenders that were rushed to bypass import restrictions that kick in next year. Meanwhile, updates from Africa and the Middle East point towards continued momentum in the clean energy sector. The energy minister of Algeria recently announced that his country would invest $60 billion in energy projects between 2025 and 2029 as part of a large-scale strategy to boost oil, gas, and hydrogen development. Reuters reports that Yemen’s first large-scale solar plant is helping to alleviate electricity shortages in the southern port city of Aden, bringing some relief to residents and businesses, which suffer losses particularly when the intense summer heat hits.
One major indicator of the bright future of clean energy companies is that by early 2025, the IEA expects renewables to make up more than a third of total generation, overtaking coal, as nuclear power remains on track to reach an all-time high. Per the energy agency, low-emissions generation, including nuclear, is expected to account for almost half of global electricity generation by 2026, compared to 40% in 2023. The IEA claims that although global electricity demand growth eased to 2.2% in 2023, it is expected to jump to an average of 3.4% from 2024 to 2026. About 85% of that increase is likely to come from outside of advanced economies like China, India, and countries in Southeast Asia. As such, companies that operate in the clean energy sector can expect outsized growth during this period.
Our Methodology
For this article, we scanned Clean Energy ETFs plus online rankings to compile an initial list of 50 clean energy stocks. From these firms, we narrowed the list further by selecting US-listed companies with a market cap of greater than $2 billion and a street-high analyst upside of at least 8%-10%. We have ranked these stocks in ascending order based on the potential upside.
These stocks are also popular among hedge funds. 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Most Promising Clean Energy Stocks According to Wall Street Analysts
12. Brookfield Renewable Corporation (NYSE:BEPC)
Number of Hedge Fund Holders: 22
Street-High Upside Potential: 8%
Brookfield Renewable Corporation (NYSE:BEPC) is one of the clean energy stocks that look well-positioned to benefit from the rising global electricity demand as well as the AI megatrends. This is because the company has solid assets in the hydro and battery storage space that provide a key competitive moat, supporting baseload power and enabling high-value re-contracting as legacy agreements expire. Financial experts note that the asset recycling strategy and inflation-linked revenues support management’s confidence in delivering 10%+ annual FFO per share growth. The firm’s operations consist of approximately 13,948 megawatts of installed hydroelectric, wind, solar, and storage and ancillary capacity located in Brazil, Colombia, North America, and Europe.
In mid-September, an analyst from JPMorgan raised the price target on Brookfield Renewable Corporation (NYSE:BEPC) stock to $41 from $39 and kept an Overweight rating on the shares. In an investor note, the analyst attributed the target raise to an updated clean energy model and establishing December 2026 targets versus December 2025 previously.
11. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holders: 79
Street-High Upside Potential: 11%
Constellation Energy Corporation (NASDAQ:CEG) has built an impressive clean energy portfolio over the past few years, centering the business around nuclear power and inking 20-year PPAs with technology giants for data center needs. The hydroelectric portfolio of the firm is also expanding. Latest reports indicate that it has signed an agreement with the state government in Maryland to fund and implement operational improvements and environmental projects at the Conowingo Dam. The commitments are valued at more than $340 million and clear the way for the re-licensing and continued operation of the hydroelectric facility on the Susquehanna River, which is the largest source of renewable energy in the state.
In late September, Scotiabank analyst Andrew Weisel initiated coverage on the stock with an Outperform rating and $401 price target. In an investor note, the analyst presented a bullish fundamental view on the independent power producers’ group, citing a robust outlook for electricity demand and strong cash flow generation. Weisel further added that Constellation Energy Corporation (NASDAQ:CEG) is an industry leader on almost every metric in a sector seeing unprecedented demand.
10. ReNew Energy Global Plc (NASDAQ:RNW)
Number of Hedge Fund Holders: 24
Street-High Upside Potential: 23%
ReNew Energy Global Plc (NASDAQ:RNW) engages in the generation of power through non-conventional and renewable energy sources in India. The firm has stakes in wind, solar, hydro, transmission line, and manufacturing segments of the clean energy business. It operates a clean energy portfolio of over 18.46 GWs. On September 29, the company announced that it has received the $100 million in investment proceeds from British International Investment (BII). The company had secured this investment from BII earlier this year to accelerate the growth of its solar manufacturing business in India. In July, a consortium comprising Abu Dhabi Future Energy Company PJSC-Masdar, the Canada Pension Plan Investment Board, Platinum Hawk and ReNew CEO Sumant Sinha proposed buying out the firm for $3.2 billion.
While presenting second quarter results, ReNew Energy Global Plc (NASDAQ:RNW) reiterated the guidance for FY 26, expecting to be at the higher end of the adjusted EBITDA range of INR 87 billion to INR 93 billion if weather and asset sales aligned with expectations. The company also said it expects to construct 1.6 to 2.4 gigawatts during the year and generate cash flow to equity of INR 14 billion to INR 17 billion.
9. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 66
Street-High Upside Potential: 23%
NextEra Energy, Inc. (NYSE:NEE) generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. On October 6, Evercore ISI analyst Nicholas Amicucci initiated coverage of the stock with an Outperform rating and $92 price target. In an investor note, the analyst told investors that NextEra possesses all the key qualities to address the need for incremental generation across the US, and while the company is perceived as the US leader in Wind and Solar with about 20% of the US renewables market, he sees it as the nation’s leading power provider with the ability to provide the entire spectrum of generation assets.
While being one of the biggest players in the wind and solar space, NextEra Energy, Inc. (NYSE:NEE) is strengthening the nuclear power portfolio as well. Last week, the firm announced that it had received license renewal from the US Nuclear Regulatory Commission for Point Beach Nuclear Plant Units 1 and 2 in Wisconsin, extending operations through 2050 and 2053, respectively. These units at Point Beach have been operating since the early 1970s and generate enough electricity to power 1 million homes and businesses, supplying 14% of the state’s total electricity.
8. Brookfield Renewable Partners L.P. (NYSE:BEP)
Number of Hedge Fund Holders: 4
Street-High Upside Potential: 25%
Brookfield Renewable Partners L.P. (NYSE:BEP) owns a portfolio of renewable power generating facilities in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage. On September 29, Mizuho analyst Anthony Crowdell raised the price target on the stock to $27 from $26 and kept a Neutral rating on the shares following the analyst day. The analyst believes the stock’s risk/reward remains balanced. Similarly, JPMorgan analyst Mark Strouse recently raised the price target on the stock to $32 from $30 and kept an Overweight rating on the shares.
In earnings for the second quarter of 2025, Brookfield Renewable Partners L.P. (NYSE: BEP) reported funds from operations of $0.56 per unit, in line with market expectations. The revenue over the period was $1.69 billion, up more than 14% compared to the revenue over the same period last year and beating market estimates by $40 million. Looking to the rest of 2025, the firm said it expected to achieve the 10%+ FFO per unit annual growth target.
7. GE Vernova Inc. (NYSE:GEV)
Number of Hedge Fund Holders: 106
Street-High Upside Potential: 25%
GE Vernova Inc. (NYSE:GEV) is one of the leading clean energy firms in the US with stakes in Power, Wind, and Electrification. The firm has a vast installed base of 57,000 turbines, substantial investments in the energy transition and grid modernization, advancements in hydrogen and carbon capture technologies for its gas turbines, and a significant backlog of $116 billion in equipment and services. In addition to wind, hydropower also remains one of the core strengths of the company. The hydropower turbines and generators of GEV represent more than 25% of the current total installed capacity worldwide. Earlier this year, the firm secured an order from Rio Tinto, one of Canada’s largest private producers of hydroelectricity, for the upgrade of eight turbine-alternator units at the Isle Maligne hydropower plant.
On September 15, Melius Research analyst Rob Wertheimer upgraded GE Vernova Inc. (NYSE:GEV) stock to Buy from Hold with a $740 price target. The stock is up 5x since the spin-off, and there’s a lot of room for upside surprises in sell-side estimates as we move toward 2027 and beyond, the analyst told investors in a research note. The analyst sees upside to estimates over the next few years, and a longer tail seemingly developing on the need for power.
6. Consolidated Edison Inc. (NYSE:ED)
Number of Hedge Fund Holders: 51
Street-High Upside Potential: 28%
Consolidated Edison, Inc. (NYSE:ED) has interests in the electric, gas, and steam delivery businesses. On October 6, Evercore ISI initiated coverage of the stock with an In Line rating and $106 price target. In an investor note, the analyst highlighted that the company had the ability to offset some of its future equity needs through the sale of its investment in the Mountain Valley Pipeline. However, per the analyst, the tough regulatory environment of Consolidated’s service areas and the pending New York City mayoral election warranted a neutral stance. Meanwhile, an analyst at Morgan Stanley also recently mentioned Consolidated in an investor note on the energy sector, raising the price target on the shares and stressing that there were long-term advantages of nuclear that were underappreciated in current market narratives.
Consolidated Edison Inc. (NYSE:ED) has shifted focus to power generation in only New York over the past few years. The firm continues to make significant investments in clean energy transmission projects, building electrification, energy efficiency, electric vehicle infrastructure, battery storage and other technologies. In earnings for the second quarter, the company posted earnings per share of $0.67, beating market estimates by $0.01. The firm is one of the top beneficiaries of a recent decision by The New York State Public Service Commission to approve 29 infrastructure projects worth $636 million, enabling 642 MW of electrification upgrades.
5. Brookfield Asset Management Ltd. (NYSE:BAM)
Number of Hedge Fund Holders: 33
Street-High Upside Potential: 29%
Brookfield Asset Management Ltd. (NYSE:BAM) is an alternative asset management firm specializing in acquisitions and growth capital investments. The firm typically invests in renewable power and transition, and infrastructure sectors. Last week, Bank of America lowered the price target on the stock to $67 from $68 and kept a Neutral rating on the shares. The firm revised its Q3, Q4, 2026 and 2027 EPS estimates due higher catch-up fees from the final close of Renewables II fund, the analyst told investors in a Q3 preview for the asset manager group.
Brookfield Asset Management Ltd. (NYSE:BAM) announced earlier today that it had raised $20 billion for its flagship energy transition fund. As the fund is now closed, it has become the world’s largest private fund dedicated to the transition to clean energy. The Fund received contributions from institutional investors worldwide, including a number of investors that are new to the Brookfield transition platform. This includes the previously announced commitments of $2 billion from ALTÉRRA and $1.5 billion from Norges Bank Investment Management.
4. Clearway Energy Inc. (NYSE:CWEN)
Number of Hedge Fund Holders: 33
Street-High Upside Potential: 37%
Clearway Energy Inc. (NYSE:CWEN) operates in the clean energy generation assets business in the United States. The company operates through Flexible Generation and Renewables segments. Its portfolio comprises approximately 11.8 GW of gross capacity in 26 states, including approximately 9 GW of wind, solar, and battery energy storage systems, and approximately 2.8 GW of dispatchable combustion-based power generation assets included in the Flexible Generation segment that provide critical grid reliability services. Earlier this year, the firm announced plans to sell $100 million of stock to fund general business needs. It has partnered with Morgan Stanley, BofA Securities, Citigroup, JP Morgan and Wells Fargo Securities for the purpose.
On October 6, Roth Capital analyst Justin Clare raised the price target on Clearway Energy Inc. (NYSE:CWEN) to $38 from $36 and kept a Buy rating on the shares. The analyst noted that Clearway Energy just announced a binding agreement to acquire a 613 MW operational solar portfolio from Deriva Energy. The deal is expected to close by Q2 2026 and contribute a 5-year average annual asset ‘cash available for distribution’ (CAFD) of about $27 million, implying a greater than 12% CAFD yield on $210 million -$230 million of long-term corporate capital. The transaction appears attractive given the CAFD yield and opportunities to enhance value, Roth argued.
3. Vistra Corp. (NYSE:VST)
Number of Hedge Fund Holders: 111
Street-High Upside Potential: 63%
Vistra Corp. (NYSE:VST) has emerged as a promising investment in the clean energy space due to increasing electricity demand. This demand is driven by AI data centers, the continued adoption of electric vehicles (EVs), and grid modernization in the US. The utility firm looks well-positioned to capitalize on these trends with an expanding portfolio of nuclear power and other zero-carbon energy sources. Earlier this year, the firm reaffirmed guidance for 2025 adjusted EBITDA of $5.5 billion to $6.1 billion and adjusted free cash flow before growth of $3 billion to $3.6 billion. Management also increased the expected floor of the 2026 adjusted EBITDA midpoint opportunity to $6.8 billion, citing current hedge positions and recent PJM capacity auction results.
On October 3, BMO Capital analyst James Thalacker raised the price target on Vistra Corp. (NYSE:VST) to $236 from $229 and kept an Outperform rating on the shares. Thalacker underlined that a recent meeting with the company management team underscored the relative strengths of transactions and affirmed the positive outlook on the ongoing value creation strategy. The analyst further forecast a substantial free cash flow generation at Vistra’s generation and retail operations this year and a growing EBITDA contribution from its self-financing Vistra Zero carbon-free subsidiary.
2. Enphase Energy Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 39
Street-High Upside Potential: 110%
Enphase Energy Inc. (NASDAQ:ENPH) features on the list of the most promising clean energy stocks according to Wall Street analysts because it is a leading provider of home energy solutions based on solar power. Earlier this month, the company announced that it would partner with Dutch energy provider Essent to offer IQ Battery integration for solar customers. The Smart Steering program allows Enphase users to earn up to €122/month by letting Essent remotely manage their home battery. Compensation scales with battery size, up to 20 kWh, under a fixed-rate energy contract. The program helps maximize solar self-consumption, reduce energy bills, and support grid reliability. This initiative comes as the Netherlands plans to phase out net energy metering by 2027.
In late September, Jefferies raised the price target on Enphase Energy Inc. (NASDAQ:ENPH) to $41 from $36 and kept a Hold rating on the shares. In the investor note, the analyst noted that the prospects for the residential solar industry were improving with less downside risk. The note further highlighted that Enphase’s downward revision risk now looked less likely than feared. However, per the analyst, the company remained a show-me story, with many unknowns.
1. EVgo Inc. (NASDAQ:EVGO)
Number of Hedge Fund Holders: 26
Street-High Upside Potential: 140%
EVgo Inc. (NASDAQ:EVGO) owns and operates a direct current fast charging network for electric vehicles in the United States. In August, an analyst from UBS raised the price target on the stock to $5.40 from $5 and kept a Buy rating on the shares. EVgo is UBS’ preferred EV charging exposure due to potential upcoming catalysts, the analyst told investors in a research note. Analysts at Roth Capital, Morgan Stanley, and Evercore ISI also have similar bullish views on the clean energy firm, per recent updates.
Earlier this month, EVgo, Inc. (NASDAQ:EVGO) announced that it had partnered with Pilot Company and General Motors to expand the reach of their collaborative network to more than 200 locations across nearly 40 states. Per the announcement, in just over two years, the companies have worked together to bridge charging gaps by deploying nearly 850 new electric vehicle fast charging stalls across America. By the end of 2025, the companies anticipate reaching 1,000 stalls across 40 states.
Overall, EVGO ranks first on our list of most promising clean energy stocks according to Wall Street analysts.
While we acknowledge the potential of EVGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EVGO and that has 100x upside potential, check out our report about this cheapest AI stock.
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