5 Best Renewable Energy Stocks to Buy Now

3. Enphase Energy, Inc. (NASDAQ: ENPH)

Enphase Energy, Inc. (NASDAQ: ENPH) is a California-based company that designs and manufactures software-driven clean energy solutions for residential areas that focus on solar generation, home energy storage and web-based monitoring and control. The firm was founded in 2006 and is placed third on our list of 10 best renewable energy stocks to buy now. The products that the company makes include a semiconductor-based microinverter, AC battery storage systems; as well as Envoy and Enlighten, which are data-based services.

On March 29, the company announced that it had signed an agreement with Rubicon Energy in South Africa to distribute its products to customers in the African country. The shares of the firm have been surging this month as it is expected to benefit from a new government plan for alternative energy. Out of the hedge funds being tracked by Insider Monkey, Hong Kong-based investment firm Sylebra Capital Management held the most shares in the firm – 1.9 million – worth more than $346 million. Citadel Investment Group was 2nd with shares of $242 million.