5 Best Renewable Energy Penny Stocks to Buy

3. SunPower Inc. (NASDAQ:SPWR)

Number of Hedge Fund Holders: 22

SunPower Inc. (NASDAQ:SPWR) is one of the best renewable energy penny stocks to buy.

On March 11, 2026, SunPower disclosed in an SEC filing that it had entered into a purchase agreement with YA II PN, Ltd., dated March 6, 2026, under which the investor agreed to buy a convertible debenture with a principal amount of $10 million. The purchase price was set at 90% of that amount, meaning SunPower is raising less cash than the debenture’s face value.

The debenture carries a 0% annual interest rate unless an event of default occurs, in which case the rate rises to 18%. It matures on March 6, 2027, unless extended at the holder’s option. The repayment schedule attached to the debenture shows five monthly principal installments of $2 million, due from May 5, 2026, through September 5, 2026, with a 3% payment premium on those installments, for total scheduled payments of $10.3 million.

SunPower also signed a registration rights agreement tied to the deal. Under that agreement, the company is required to file the initial resale registration statement by April 30, 2026. The filing also noted that the transaction is subject to an exchange cap of 22,381,878 shares, unless stockholders approve issuance above that limit under Nasdaq rules.

SunPower Inc. (NASDAQ:SPWR) is a U.S.-based solar company focused on residential solar, battery storage, and related energy solutions.