In this article, we will discuss: Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock Picks.
On March 10, 2026, Reuters cited a Solar Energy Industries Association and Wood Mackenzie study that found that solar installations fell in 2025 after Donald Trump’s policy changes disrupted renewable-energy incentives. Developers constructed 43 gigawatts of solar capacity in 2025, a decrease from over 50 GW in 2024. According to the report, Trump’s “One Big Beautiful Bill Act” eliminated subsidies and tax advantages for renewable developers, causing market disruptions. Utility-scale solar installations slipped 16% in 2025, while community solar installations fell 25%. Tariff tensions and a federal freeze on major project approvals hindered the industry’s development as the administration prioritized oil, gas, coal, and nuclear over renewable energy initiatives pushed by Joe Biden.
Texas dominated new installations with 11 gigawatts, followed by Indiana, Florida, Arizona, Ohio, Utah, and Arkansas. Solar and energy storage continued to account for 79% of new capacity increases in the United States during the administration’s first year. SEIA interim President and CEO Darren Van’t Hof said that Washington needs to provide policy certainty for the industry to work and keep pace with rising energy demand. Head of solar at Wood Mackenzie, Michelle Davis, commented that solar will continue to be the key source of new power capacity in the United States through 2036.
With that said, here are the Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock Picks.
Energy transmission lines. Photo by Snapwire on Pexels
Our Methodology
We used Goldman Sachs’ 13F portfolio and selected the 10 Solar and Green Energy Stocks. We have mentioned Goldman Sachs’ stake value. The list is ranked in ascending order of the firm’s stake value in each holding.
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10. Clearway Energy, Inc. (NYSE:CWEN)
Goldman Sachs’ Stake Value: $7.20 million
On February 25, 2026, Deutsche Bank analyst Corinne Blanchard boosted the firm’s price objective for Clearway Energy, Inc. (NYSE:CWEN) to $42 from $40 while maintaining a Buy rating. The analyst believes the company’s fourth-quarter earnings are mainly in line.
On February 23, 2026, Clearway Energy, Inc. reported full-year 2025 financial performance, exceeding the top end of its initial guidance range. The company reported a net loss of $231 million and adjusted EBITDA of $1.217 billion. The firm generated $688 million in operating cash flow, with $430 million available for distribution. The corporation has raised $600 million in corporate debt and $50 million in equity since the previous financial release.
Clearway Energy, Inc. advanced multiple expansion efforts this year. The corporation moved forward with its fleet upgrade initiative, with repowerings anticipated for 2026 and 2027. It also inked deals with Clearway Group for the remaining 2026 projects, including a 291-megawatt storage portfolio in Colorado and California. The sponsor’s late-stage pipeline now includes 11.2 gigawatts of opportunities, including two gigawatts of contracts to provide electricity to data centers. CEO Craig Cornelius stated that the company also got offers to invest in the 520-megawatt Royal Slope solar-plus-storage project and the 650-megawatt Swan Solar project. The company confirmed its CAFD guidance for 2026 of $470 million to $510 million.
Clearway Energy, Inc. owns contracted renewable and conventional power-producing facilities, as well as thermal infrastructure assets. It operates in four segments: conventional generation, thermal, renewable, and corporate.
9. Plug Power Inc. (NASDAQ:PLUG)
Goldman Sachs’ Stake Value: $16.96 million
On March 9, 2026, Bloomberg reported that Plug Power Inc. (NASDAQ:PLUG) announced plans to supply up to 250 megawatts of hydrogen-powered electricity in a potential special auction conducted by PJM Interconnection, the largest power system in the United States. Chairman Andy Marsh told Bloomberg that the corporation is considering participating as grid operators manage increased electricity demand caused by artificial intelligence data centers. PJM manages a 13-state power network in the eastern and midwestern United States, and it confronts possible power shortages as data center energy demand increases. The Trump administration has pushed for an emergency auction later this year to boost electricity supplies.
Marsh said Plug Power Inc. is already working with hyperscalers, data center firms, and utilities to discuss long-term power supply deals. The corporation would need contracts that span at least seven years to support hydrogen power deployment under the auction framework. Marsh revealed the plan as the firm passed leadership to newly appointed CEO Jose Luis Crespo as part of a succession plan outlined in October. The company also announced a lower-than-expected fourth-quarter loss and stated that it aims to attain positive EBITDA in 2026.
Plug Power, Inc. is an alternative energy technology company. It designs, develops, commercializes, and manufactures hydrogen and fuel cell systems for the material handling and stationary power markets.
8. Array Technologies, Inc. (NASDAQ:ARRY)
Goldman Sachs’ Stake Value: $18.68 million
On March 2, 2026, Morgan Stanley analyst David Arcaro reduced the price objective on Array Technologies, Inc. (NASDAQ:ARRY) from $9 to $7 while keeping an Equal Weight rating. The analyst revised the firm’s model and value in response to the most recent earnings announcement.
On February 25, 2026, Array Technologies, Inc. reported fourth-quarter 2025 revenue of $226.0 million, with full-year revenue of $1.28 billion, representing 40% yearly growth. The corporation reported a net loss to common shareholders of $161.2 million in the fourth quarter and $112.0 million in 2025. Adjusted EBITDA totaled $11.2 million for the quarter and $187.6 million for the entire year. Gross margins were 8.6% in the quarter and 23.2% for the year. As of December 31, 2025, the company had an order book of $2.2 billion, with a book-to-bill ratio of two times. Management also presented its DuraTrack technology to worldwide markets, forecasting revenue of $1.4 billion to $1.5 billion in 2026, with adjusted EBITDA of $200 million to $230 million.
Array Technologies, Inc. provides ground-mounting systems for solar energy projects. The firm distributes its products to engineering, procurement, and construction firms that build solar energy projects, as well as large solar developers, independent power producers, and utilities.
7. SolarEdge Technologies, Inc. (NASDAQ:SEDG)
Goldman Sachs’ Stake Value: $35.73 million
On March 10, 2026, SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported that Chief Financial Officer Asaf Alperovitz will leave to pursue a CFO position in a publicly traded company outside the industry. According to the corporation, Alperovitz informed the board of directors of his decision and will continue in his role until June 9, 2026, to support operations and the leadership transition. The board has initiated a search for a successor. SolarEdge also reiterated its first-quarter financial guidance.
SolarEdge Technologies, Inc. anticipates first-quarter 2026 revenue of $290 million to $320 million, with a non-GAAP gross margin of 20% to 24% and non-GAAP operating expenses of $88 million to $93 million.
On February 18, 2026, SolarEdge Technologies, Inc. announced fourth-quarter revenue of $335.4 million and full-year revenue of $1.18 billion, a 31% increase over 2024. The corporation reported a GAAP net loss of $132.1 million for the quarter and $405.4 million for 2025. Cash flow from operating activities totaled $52.6 million in the quarter and $104.3 million for the year, resulting in free cash flow of $43.3 million and $76.9 million. The company’s quarterly sales rose by 70% year over year.
SolarEdge Technologies, Inc. develops energy technologies and delivers inverter solutions. The company operates in two segments: solar and all other.
6. Enphase Energy, Inc. (NASDAQ:ENPH)
Goldman Sachs’ Stake Value: $50.44 million
On March 16, 2026, Enphase Energy, Inc. (NASDAQ:ENPH) announced a joint venture with Ensol to increase IQ Battery deployments in France through a subscription model starting at €30 per month. Ensol installs and administers IQ Battery 5P systems, including monitoring, maintenance, and a 15-year guarantee, with choices to continue, purchase, or quit after the third year. Ensol aggregates enrolled systems into a virtual power plant that participates in demand response programs through RTE, cutting homeowner costs. The company is also planning to hold hundreds of battery adoption events in France and the Netherlands in 2026.
Enphase Energy, Inc.’s first-quarter revenue guidance for 2026 ranges from $270.0 million to $300.0 million. It includes $35.0 million in safe harbor shipments and 100-120 MWh of battery shipments, with a GAAP gross margin of 40.0% to 43.0% and a non-GAAP gross margin of 42.0% to 45.0%, including tariffs.
As of March 16, 2026, the stock is up by 35.97% YTD.
Enphase Energy, Inc. is a global energy technology firm. It designs, develops, manufactures, and sells home energy solutions that integrate energy generation, storage, control, and communication on a single intelligent platform.
5. First Solar, Inc. (NASDAQ:FSLR)
Goldman Sachs’ Stake Value: $120.57 million
On March 4, 2026, GLJ Research lowered First Solar, Inc. to Hold from Buy.
On February 25, 2026, Reuters reported that First Solar, Inc. anticipated net sales of $4.9 billion to $5.2 billion in 2026, falling short of analysts’ average estimate of $6 billion, according to LSEG data. Executives noted policy uncertainties in the United States and delays in permitting for large projects under the Trump administration. Management also anticipated tariff charges of $125 million to $135 million in 2026. Analysts identified tariff pressures and a freeze on large solar project approvals as major hurdles to industry expansion and project timeframes.
Christopher Dendrinos of RBC Capital Markets commented that the 2026 estimate represents increased curtailment effort, but it may position the firm for higher volumes in later periods if tariffs stabilize. First Solar, Inc. also reported limited demand for its Series 6 solar modules manufactured in Malaysia and Vietnam. The company intends to open a finishing line in South Carolina during the fourth quarter to upgrade freight functionality, reduce tariff exposure, and increase the usage of local resources. Citigroup’s Vikram Bagri hailed the company as a “long-term growth story.”
First Solar, Inc. is a solar technology firm that provides solar modules. It designs, manufactures, and sells cadmium telluride solar modules, which convert sunlight into electricity.
4. Sunrun Inc. (NASDAQ:RUN)
Goldman Sachs’ Stake Value: $319.39 million
On March 13, 2026, Morgan Stanley analyst David Arcaro reduced Sunrun Inc. (NASDAQ:RUN)’s price objective from $21 to $15 while keeping an Equal Weight rating following the fourth-quarter results. The analyst upgraded the firm’s model, noting slower year-on-year solar origination growth.
On February 26, 2026, Sunrun Inc. published fourth-quarter and full-year 2025 financial results, with a net change of $290 million in cash and restricted cash and $377 million in cash generation in 2025.
CEO Mary Powell noted the company’s storage-first approach and the growing distributed power plant network, catering to more than one million customers. CFO Danny Abajian reported that margin discipline supports higher upfront subscription values. Sunrun Inc. has also launched a financing collaborative venture with Hannon Armstrong Sustainable Infrastructure Capital, as well as distributed power partnerships with NRG Energy, Inc., and Pacific Gas and Electric Company. The company estimated that it will generate $250 million to $450 million in cash by 2026.
Sunrun Inc. designs, develops, installs, sells, owns, and maintains residential solar energy systems. It sells solar services and installs solar energy systems for homeowners.
3. Cummins Inc. (NYSE:CMI)
Goldman Sachs’ Stake Value: $345.09 million
On February 10, 2026, Argus analyst Bill Selesky boosted Cummins Inc. (NYSE:CMI) ‘s price objective to $696 from $573, retaining a Buy rating. The analyst said that truck and machinery makers have solid long-term demand, which is being driven in part by infrastructure expansion in developing areas. Argus forecasts the firm’s Power Segment to continue growing, and the business will manage tariff expenses and trade disruptions.
On February 5, 2026, Reuters reported that Cummins Inc. generated $8.54 billion in fourth-quarter revenue, a 1% rise year on year. The corporation’s profitability was driven by strong demand in the power-generating systems and distribution segments, while softer North American truck demand hampered its engine and components businesses. Power Systems, which manufactures generators, gained revenues by 11% year on year, while Distribution, which provides global service, sales, and support, raised revenue by 7%. Accelera Innovations Inc., the clean-energy division, increased revenue by 31% during the quarter. Despite the sales growth, the stock sank nearly 9% in morning trading.
Cummins Inc. announced a quarterly profit of $4.27 per share, a 41% increase over the previous year, which included $1.54 per share in charges related to Accelera Innovations Inc.’s strategic evaluation. The company reported a $218 million charge for the segment’s electrolyzer unit. CEO Jennifer Rumsey said the firm expects to see slightly increased North American truck demand in the second half of 2026, as well as sustained solid demand for data center backup power. CFO Mark Smith noted that the existing tariff system will result in around 50 basis points of annual margin dilution, while the company expects sales growth of 3% to 8% for 2026.
Cummins Inc. designs, manufactures, and distributes diesel, natural gas, electric, and hybrid powertrains, as well as powertrain-related components. It functions in the following segments: Engine, Distribution, Components, Power Systems, and Accelera.
2. Constellation Energy Corporation (NASDAQ:CEG)
Goldman Sachs’ Stake Value: $651.96 million
On February 9, 2026, Constellation Energy Corporation (NASDAQ:CEG) entered a 20-year agreement with the Tennessee Titans to be the preferred energy source for the new Nissan Stadium. The corporation will operate an on-site facility to offer heating and cooling when the 60,000-capacity stadium opens in 2027.
On February 24, 2026, Reuters reported that Constellation Energy Corporation surpassed Wall Street expectations for fourth-quarter adjusted profit, reporting $2.30 per share compared to an average analyst estimate of $2.23, according to LSEG data.
CEO Joe Dominguez noted the firm’s nuclear fleet as a critical component in managing increased electricity demand caused by electrification and the data economy. Constellation Energy Corporation has struck a contract with CyrusOne to set up a new data center near the Freestone Energy Center in Texas, as well as deals with Meta Platforms and Microsoft Corporation for nuclear reactor operations. The corporation also closed on the $16.4 billion acquisition of Calpine Corporation in January.
Constellation Energy Corporation generates, supplies, and markets clean electricity, as well as renewable energy products and solutions. The company also provides wholesale energy, retail products, and services.
1. NextEra Energy, Inc. (NYSE:NEE)
Goldman Sachs’ Stake Value: $1,436.51 million
On February 26, 2026, Reuters reported that NextEra Energy, Inc. (NYSE:NEE) will conduct a $2 billion public offering of equity units to fund energy and power projects. The company valued each equity unit at $50 and combined it with a contract that allows investors to buy NextEra Energy common stock within 3 years. The firm also plans to offer underwriters the option to purchase up to $300 million in additional equity units to cover any overallotment.
U.S. utilities continue to invest extensively in grid upgrades as rapid data center construction fuels record-breaking electricity demand. Following the news announcement, NextEra Energy, Inc. shares fell roughly 1% in premarket trade. Wells Fargo Securities, BofA Securities, Citigroup Inc., and Mizuho Financial Group will act as joint book-running managers for the transaction.
Separately, on March 5, 2026, UBS raised NextEra Energy, Inc.’s (NYSE:NEE) price objective from $91 to $104 while keeping a Buy rating. The firm noted a considerable need for increased power generation, particularly at NextEra Energy Resources, LLC (NEER), which serves large-load clients like data centers. According to UBS, next-generation transactions have the potential to increase investor confidence and value.
NextEra Energy, Inc. provides renewable energy. It operates through two segments: FPL and NEER.
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