5 Best Renewable Energy Stocks to Buy Now

2. SolarEdge Technologies, Inc. (NASDAQ: SEDG)

SolarEdge Technologies, Inc. (NASDAQ: SEDG) is an Israel-based solar solutions firm. It designs, develops and markets direct current optimized inverter systems for solar photovoltaic installations globally. The product list of the firm includes inverters, power optimizers, communication devices, and smart energy management solutions. The firm also has stakes in the energy storage and electric vehicle charging businesses. It offers lithium-ion cells and battery packs and uninterrupted power supply solutions as well. 

The firm was founded in 2006 and is placed second on our list of 10 best renewable energy stocks to buy now. At the end of the fourth quarter of 2020, 28 hedge funds in the database of Insider Monkey held stakes worth $458 million in the firm, down from 31 in the preceding quarter worth $553 million. On March 19, financial advisory firm Susquehanna upgraded SolarEdge stock to Positive from Neutral with a price target of $345. SolarEdge will also benefit from the US government plan to extend tax credits for clean energy firms by ten years.