In this article, we will list the 5 Best Solar Energy Stocks to Buy Right Now. Please visit 8 Best Solar Energy Stocks to Buy Right Now to see the extended list and the methodology behind it.
5. SolarEdge Technologies Inc. (NASDAQ:SEDG)
Number of Hedge Fund Holders: 35
SolarEdge Technologies Inc. (NASDAQ:SEDG) is one of the best solar energy stocks to buy right now. On May 6, SolarEdge reported Q1 2026 revenues of $310.5 million, representing 46% year-over-year growth despite a 7.4% sequential decline from the previous quarter. The company posted a GAAP net loss of $57.4 million, or $0.95 per share, which showed improvement compared to the $132.1 million loss in Q4 2025. During the period, SolarEdge recognized revenue from approximately 50.5 thousand inverters, 2.4 million optimizers, and 331 MWh of battery storage.
The company achieved its sixth consecutive quarter of margin expansion, with non-GAAP gross margins reaching 23.5%. While operating expenses rose slightly to $123.3 million on a GAAP basis, management noted that excluding a one-time $14 million expense, the underlying operating loss remained flat sequentially. SolarEdge continues to maintain a positive cash position, generating $20.7 million in free cash flow and ending the quarter with a net cash and investment portfolio of $246.2 million.
Looking ahead to Q2 2026, SolarEdge Technologies Inc. (NASDAQ:SEDG) expects revenues to rise to between $325 million and $355 million. Management signaled that a return to operating profitability is in sight, driven by the rollout of the Nexis platform and a new focus on AI data-center power solutions.
SolarEdge Technologies Inc. (NASDAQ:SEDG) develops energy technologies and delivers inverter solutions. The company operates in two segments: solar and all other.
4. Array Technologies Inc. (NASDAQ:ARRY)
Number of Hedge Fund Holders: 35
Array Technologies Inc. (NASDAQ:ARRY) is one of the best solar energy stocks to buy right now. On May 6, Array Technologies reported Q1 2026 revenue of $223.4 million, exceeding previous expectations and achieving a record orderbook of $2.4 billion. While the company posted a GAAP net loss of $13.5 million, or $0.09 per share, it recorded an adjusted EBITDA of $28.8 million and an adjusted net income of $0.06 per diluted share.
The company is expanding its international footprint with new contracted projects in Turkey, Peru, and Colombia. To support this global growth, Array introduced the DuraTrack D2S, a next-gen dual-row tracker specifically designed for international markets that incorporates patented wind stow technology and SmarTrack software. Additionally, the company opened a new headquarters and innovation site to centralize its research and training efforts for integrated tracking and foundation solutions.
Management reaffirmed its full-year 2026 guidance, projecting revenue between $1.4 billion and $1.5 billion and adjusted EBITDA in the range of $200 million to $230 million. For Q2, the company expects revenue to increase to between $300 million and $320 million. Array Technologies Inc. (NASDAQ:ARRY) continues to focus on maintaining margin resilience through commercial excellence and strategic investments in its software and service business segments.
Array Technologies Inc. (NASDAQ:ARRY) is a global provider of solar tracking technology and fixed-tilt systems used in utility-scale and distributed solar power projects.
3. Shoals Technologies Group Inc. (NASDAQ:SHLS)
Number of Hedge Fund Holders: 36
Shoals Technologies Group Inc. (NASDAQ:SHLS) is one of the best solar energy stocks to buy right now. On May 5, Shoals Technologies reported Q1 2026 revenue of $140.6 million, a 75% increase year-over-year. While the company achieved an income from operations of $7.7 million and an adjusted EBITDA of $21.1 million, it posted a slight net loss of $0.3 million. This performance was supported by record backlog and awarded orders reaching $758 million, driven by sustained demand in domestic utility-scale solar and expansion into international and battery energy storage markets.
The company’s gross margin was 29.2%, down from 35.0% in the prior year due to higher tariff payments, material costs, and expenses related to the opening of a new consolidated operations facility. G&A expenses also rose to $31.0 million, primarily due to increased legal fees for ongoing intellectual property and shareholder litigation. Despite these costs, the company reported a significant increase in adjusted net income, which rose to $12.1 million compared to $5.7 million in the previous year.
Supported by strong market demand and its new production facility, Shoals Technologies Group Inc. (NASDAQ:SHLS) raised its full-year 2026 guidance, now expecting revenue between $600 million and $640 million. For Q2, the company anticipates revenue in the range of $150 million to $170 million and adjusted EBITDA between $28 million and $33 million.
Shoals Technologies Group Inc. (NASDAQ:SHLS) provides electrical balance-of-system solutions for solar power installations, battery storage systems, and related energy infrastructure projects.
2. Enphase Energy Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 47
Enphase Energy Inc. (NASDAQ:ENPH) is one of the best solar energy stocks to buy right now. On May 7, Enphase Energy signed a new $52 million safe harbor agreement with a US solar and battery financing company focused on third-party ownership/TPO models. The deal involves the supply of IQ9 Microinverters produced at domestic manufacturing facilities for use in future residential and commercial projects.
This agreement is designed to help project owners secure eligibility for the base investment tax credit and the domestic content bonus credit. With this latest contract, Enphase’s total physical work test/PWT order backlog with TPO providers has reached approximately $873.7 million. Most of this volume was secured throughout early 2026, totaling $754 million before the most recent agreement.
Enphase Energy Inc. (NASDAQ:ENPH) expects to recognize the associated revenue between 2027 and 2030, depending on specific customer project timelines and market demand. The current backlog exclusively covers IQ9 Microinverters, leaving room for additional revenue through the future attachment of IQ Batteries, cables, and other accessories.
Enphase Energy Inc. (NASDAQ:ENPH) is an energy technology company. It designs and manufactures microinverter-based solar and battery storage systems for residential and commercial applications.
1. First Solar Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 79
First Solar Inc. (NASDAQ:FSLR) is one of the best solar energy stocks to buy right now. On April 30, First Solar reported a strong start to 2026 with Q1 net sales of $1.04 billion, a 24% increase compared to the prior year. This growth was fueled by record sales in India and higher module volumes sold to third parties. Net income reached $347 million, or $3.22 per diluted share, representing a 65% year-over-year increase, while adjusted EBITDA grew to $520 million, surpassing the company’s initial expectations.
The company maintained a massive contracted sales backlog of 47.9 GW as of March 31. While the net cash balance decreased to $2.0 billion due to seasonal working capital needs and investments in its South Carolina finishing facility, management emphasized that their domestic manufacturing footprint and independence from Chinese supply chains continue to strengthen their competitive position. For Q2, First Solar Inc. (NASDAQ:FSLR) anticipates module sales between 3.4 GW and 4.0 GW and adjusted EBITDA between $400 million and $500 million.
First Solar reaffirmed its full-year 2026 guidance, projecting net sales between $4.9 billion and $5.2 billion and adjusted EBITDA between $2.6 billion and $2.8 billion. This outlook assumes approximately $2.1 billion to $2.2 billion in Section 45X tax credits and a stable US policy environment. The company expects total volume sold for the year to range from 17.0 GW to 18.2 GW as it continues to scale its operations and advance its differentiated thin-film technology.
First Solar Inc. (NASDAQ:FSLR) is a leading American solar technology company specializing in advanced thin-film photovoltaic modules used primarily in utility-scale solar developments. It falls 3rd in the list of 11 most profitable renewable energy stocks right now.
While we acknowledge the potential of FSLR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FSLR and that has 100x upside potential, check out our report about the cheapest AI stock.
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