8 Best Solar Stocks to Buy According to Wall Street Analysts

5. Daqo New Energy Corp. (NYSE:DQ)

Number of Hedge Fund Holders: 15

Average Upside Potential as of August 15: 17.54%

Daqo New Energy Corp. (NYSE:DQ) is one of the best solar stocks to buy according to Wall Street analysts. On July 28, Daqo New Energy issued its 2024 Environmental, Social, and Governance/ESG report. The report outlines the company’s key achievements in corporate governance, innovation, R&D, employee rights, environmental sustainability, and social responsibility.

The report also details the company’s ESG Development Strategy with a set of short, medium, and long-term objectives. The short-term goals for the period of 2023-2025 include increasing the proportion of clean energy in production, reducing waste emissions, optimizing energy consumption per product unit, and improving the recycling efficiency of raw materials. Looking to the medium term, by 2030, Daqo aims to achieve peak carbon emissions and use over 80% clean energy in its production processes. The company’s long-term objective is to achieve carbon neutrality by 2060.

According to Mr. Xiang Xu, the Chairman and CEO of Daqo New Energy, the company is committed to building a more sustainable world through continuous investment in R&D and technological innovation. Daqo also fosters a corporate culture that prioritizes people, regulatory compliance, and integrity.

Daqo New Energy Corp. (NYSE:DQ) manufactures and sells polysilicon to photovoltaic product manufacturers in the People’s Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions.