5 Best Green Stocks To Invest In 2024

In this article, we discuss 5 best green stocks to invest in 2024. If you want to read our detailed discussion on the clean energy industry, head over to 12 Best Green Stocks To Invest In 2024.

5. First Solar, Inc. (NASDAQ:FSLR)

Number of Hedge Fund Holders: 47

First Solar, Inc. (NASDAQ:FSLR) is one of the best clean energy stocks. It offers photovoltaic solar energy solutions across the United States, Japan, France, Canada, India, Australia, and globally. The company is involved in designing, manufacturing, and selling cadmium telluride solar modules, which convert sunlight into electricity.

On December 27, First Solar, Inc. (NASDAQ:FSLR) announced that it had entered into two separate agreements with Fiserv to sell $500 million and up to $200 million, respectively, of its 2023 Inflation Reduction Act Advanced Manufacturing Production tax credits. According to the agreements, Fiserv will pay First Solar, Inc. (NASDAQ:FSLR) $0.96 for every $1 of tax credits during the first half of 2024.

According to Insider Monkey’s fourth quarter database, 47 hedge funds were bullish on First Solar, Inc. (NASDAQ:FSLR), compared to the preceding quarter when 49 funds had invested in the stock. Robert Pohly’s Samlyn Capital held a significant position in the company, with 1.79 million shares valued at $308.74 million.

Here is what White Brook Capital has to say about First Solar, Inc. (NASDAQ:FSLR) in its Q1 2021 investor letter:

“First Solar (FSLR) and Itron (ITRI), both of which I’ve written about in past In Focus sections were long-term positions that were sold as their prices exceeded price targets. Both are solid companies that remain on my watchlist, but the opportunity cost of not investing in other potential investments exceeded their potential mid-term returns.”