In this article, we discuss the 5 best alternative energy stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to the 11 Best Alternative Energy Stocks to Buy Right Now.
5. Vestas Wind Systems A/S (OMXC:VWS.CO)
Share Price Growth Over the Year: 29.95%
Number of Hedge Fund Holders: N/A
Vestas Wind Systems A/S (VWS.CO) is a Dutch manufacturer, seller, and installer of wind power generation turbines. It is one of the oldest such companies in the world, after being founded in 1945 and entering the industry in 1975. The company was also the largest wind turbine provider in the world in 2019, with a market share of 17.7% in a sector jam-packed with firms from all over the globe.
Vestas Wind Systems A/S (VWS.CO)’s shares trade in Copenhagen, and on September 14th, 2020, they closed at a price of DKK189.96. Since they, based on their closing price of DKK260.80 on September 14th, 2021, they have gained roughly 37% over the year.
4. SolarEdge Technologies, Inc. (NASDAQ:SEDG)
Share Price Growth Over the Year: 45.10%
Number of Hedge Fund Holders: 37
SolarEdge Technologies, Inc. (NASDAQ: SEDG) is incorporated in Delaware, United States, and headquartered in Herzliya, Israel. The company is responsible for providing products that work alongside solar panels to improve their efficiency and increase energy output. It is also known for its partnerships with Tesla Inc and Schneider Electric, to provide the pair with inverters and other associated technology products for use with solar panels. In addition to providing products to companies, SolarEdge Technologies, Inc. (NASDAQ: SEDG) also targets residential and general users through selling them inverters and modules, alongside monitoring platforms.
SolarEdge Technologies, Inc. (NASDAQ: SEDG)’s share price closed at $196.12 on September 14th, 2020 and marked for 39.56% yearly growth after closing at $273.84 on September 13th, 2021.
3. First Solar, Inc. (NASDAQ:FSLR)
Share Price Growth Over the Year: 55.47%
Number of Hedge Fund Holders: 31
First Solar, Inc. (NASDAQ: FSLR) is one of the oldest solar companies in the world since it was founded in 1990 and is currently headquartered in Tempe, Arizona. The company reported $3 billion in revenue last year and has a solar panel manufacturing capacity of 8 Gigawatts. First Solar, Inc. (NASDAQ: FSLR) also expects strong future growth, as it expects its global installed capacity to stand at 1.3 Terrawatts by the end of 2025. Capacity growth in the United States and India form the backbone of the company’s optimistic 2025 growth estimate.
2. Enphase Energy, Inc. (NASDAQ:ENPH)
Share Price Growth Over the Year: 111.05%
Number of Hedge Fund Holders: 44
Enphase Energy, Inc. (NASDAQ: ENPH) is headquartered in Fremont, California and it sells inverters, energy storage and software for residential users to monitor their power generation and usage levels. Its products are not limited to solar generation only as it also caters to users who use electricity from the congenial power grid. However, Enphase Energy, Inc. (NASDAQ: ENPH) allows its residential customers to design their solar home solutions themselves and it offers innovative solutions such as the ability to capture energy from the Sun even when sunlight is suboptimal.
1. ReneSola Ltd (NYSE:SOL)
Share Price Growth Over the Year: 182.35%
Number of Hedge Fund Holders: 4
As its name implies, ReneSola Ltd (NYSE: SOL) is involved in developing and operating solar power projects. The company also provides consulting and procurement services to other firms that are looking to set up their own solar power projects. As of June last year, it is operating 245 Megawatts of solar power projects all over the globe and has been responsible for developing 745 Megawatts of projects. It earned $73.5 million through revenue last year, marking for a 38% drop from 2019. ReneSola Ltd (NYSE: SOL) intends to dramatically scale up its pipeline projects by the end of this year and anticipates them to stand at 2 Gigawatt by 2021 end.
You can also take a peek at the 10 Tax-Advantaged MLPs with High Dividend Yields and 11 Best IPO Stocks to Buy Now.
