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Best Solar Stocks to Buy Now (2024)
Top solar stocks in 2024 ranked by overall Zen Score. See the best solar stocks to buy now, according to analyst forecasts for the solar industry.

Industry: Solar

Zen Score Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Exchange	Industry	Market Cap	Price	1d %	EBITDA	P/E	D/E
FSLR	FIRST SOLAR INC	NASDAQ	Solar	$20.54B	$191.93	2.65%	$1.46B	20.01x	0.56
ARRY	ARRAY TECHNOLOGIES INC	NASDAQ	Solar	$1.86B	$12.24	-3.01%	$221.45M	29.85x	4.47
JKS	JINKOSOLAR HOLDING CO LTD	NYSE	Solar	$1.34B	$25.73	-2.98%	$1.94B	2.80x	5.08
SHLS	SHOALS TECHNOLOGIES GROUP INC	NASDAQ	Solar	$1.16B	$6.79	-3.41%	$63.57M	37.72x	0.49
ENPH	ENPHASE ENERGY INC	NASDAQ	Solar	$15.71B	$115.47	-1.40%	$409.80M	56.88x	2.50
CSIQ	CANADIAN SOLAR INC	NASDAQ	Solar	$1.11B	$16.72	-3.18%	N/A	5.36x	3.43
SOL	EMEREN GROUP LTD	NYSE	Solar	$109.76M	$1.95	-2.99%	N/A	N/A	0.29
BEEM	BEAM GLOBAL	NASDAQ	Solar	$90.24M	$6.25	0.00%	-$14.17M	-4.81x	0.57
NXT	NEXTRACKER INC	NASDAQ	Solar	$6.28B	$45.98	6.91%	$379.50M	N/A	-0.43
ZEO	ZEO ENERGY CORP	NASDAQ	Solar	$195.25M	$4.85	-2.02%	$8.21M	0.78x	0.48
MAXN	MAXEON SOLAR TECHNOLOGIES LTD	NASDAQ	Solar	$135.12M	$2.56	-30.43%	-$32.64M	-0.71x	6.63
ISUN	ISUN INC	NASDAQ	Solar	$6.78M	$0.14	-1.38%	-$13.97M	N/A	4.08
SPI	SPI ENERGY CO LTD	NASDAQ	Solar	$18.42M	$0.58	3.19%	-$6.82M	-0.63x	17.06
FTCI	FTC SOLAR INC	NASDAQ	Solar	$63.75M	$0.51	-1.56%	-$46.00M	-1.30x	1.09
SPRU	SPRUCE POWER HOLDING CORP	NYSE	Solar	$69.72M	$3.79	-3.56%	$17.99M	-1.41x	3.11
SEDG	SOLAREDGE TECHNOLOGIES INC	NASDAQ	Solar	$2.94B	$51.35	-4.47%	-$219.77M	-11.19x	0.86
SPWR	SUNPOWER CORP	NASDAQ	Solar	$545.37M	$3.11	-29.16%	-$44.23M	-4.57x	2.42
NOVA	SUNNOVA ENERGY INTERNATIONAL INC	NYSE	Solar	$596.35M	$4.81	-9.76%	$119.44M	-1.41x	5.92
TYGO	TIGO ENERGY INC	NASDAQ	Solar	$87.52M	$1.45	6.62%	N/A	-1.81x	1.01
RUN	SUNRUN INC	NASDAQ	Solar	$2.68B	$12.09	-1.47%	-$145.67M	-1.82x	2.72
CSLR	COMPLETE SOLARIA INC	NASDAQ	Solar	$46.59M	$0.95	37.74%	-$240.50M	0.33x	-1.48
TURB	TURBO ENERGY SA	NASDAQ	Solar	$12.67M	$1.15	-1.71%	-$2.79M	-5.35x	1.90
PEGY	PINEAPPLE ENERGY INC	NASDAQ	Solar	$8.35M	$0.09	47.46%	$3.27M	-0.11x	-5.89
SMXT	SOLARMAX TECHNOLOGY INC	NASDAQ	Solar	$560.94M	$12.47	-0.56%	N/A	-26.53x	-94.45
ASTI	ASCENT SOLAR TECHNOLOGIES INC	NASDAQ	Solar	$3.38M	$0.11	-2.65%	-$11.60M	-0.00x	-2.95
VVPR	VIVOPOWER INTERNATIONAL PLC	NASDAQ	Solar	$8.74M	$3.39	0.59%	-$11.87M	-15.41x	-16.20

Solar Stocks FAQ

What are the best solar stocks to buy right now in May 2024?

According to Zen Score, the 3 best solar energy stocks to buy right now are:

1. First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR) is the top solar stock with a Zen Score of 63, which is 35 points higher than the solar industry average of 28. It passed 21 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock lose -13.39% over the past year, overperforming other solar stocks by 37 percentage points.

First Solar has an average 1 year price target of $239.88, an upside of 24.98% from First Solar's current stock price of $191.93.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 17 analysts covering First Solar, 82.35% have issued a Strong Buy rating, 17.65% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Array Technologies (NASDAQ:ARRY)

Array Technologies (NASDAQ:ARRY) is the second best solar stock with a Zen Score of 61, which is 33 points higher than the solar industry average of 28. It passed 20 out of 33 due diligence checks and has strong fundamentals. Array Technologies has seen its stock lose -47.8% over the past year, overperforming other solar stocks by 3 percentage points.

Array Technologies has an average 1 year price target of $19.80, an upside of 61.76% from Array Technologies's current stock price of $12.24.

Array Technologies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 15 analysts covering Array Technologies, 46.67% have issued a Strong Buy rating, 13.33% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Jinkosolar Holding Co (NYSE:JKS)

Jinkosolar Holding Co (NYSE:JKS) is the third best solar stock with a Zen Score of 59, which is 31 points higher than the solar industry average of 28. It passed 22 out of 38 due diligence checks and has strong fundamentals. Jinkosolar Holding Co has seen its stock lose -38.13% over the past year, overperforming other solar stocks by 13 percentage points.

Jinkosolar Holding Co has an average 1 year price target of $24.12, a downside of -6.25% from Jinkosolar Holding Co's current stock price of $25.73.

Jinkosolar Holding Co stock has a consensus Sell recommendation according to Wall Street analysts. Of the 6 analysts covering Jinkosolar Holding Co, 0% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 33.33% have issued a Strong Sell.

What are the solar stocks with highest dividends?

Out of 1 solar stocks that have issued dividends in the past year, the 1 solar stocks with the highest dividend yields are:

1. Jinkosolar Holding Co (NYSE:JKS)

Jinkosolar Holding Co (NYSE:JKS) has an annual dividend yield of 5.83%, which is the same as the solar industry average of 5.83%.

Jinkosolar Holding Co's dividend payout ratio of 16.3% indicates that its high dividend yield is sustainable for the long-term.

Why are solar stocks down?

Solar stocks were down -0.22% in the last day, and up 0.59% over the last week. Maxeon Solar Technologies was the among the top losers in the solar industry, dropping -30.43% yesterday.

Shares of several stocks popular on social media are trading lower amid continued volatility following a surge in retail investor interest.

What are the most undervalued solar stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued solar stocks right now are:

1. Array Technologies (NASDAQ:ARRY)

Array Technologies (NASDAQ:ARRY) is the most undervalued solar stock based on WallStreetZen's Valuation Score. Array Technologies has a valuation score of 71, which is 49 points higher than the solar industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -47.8% in the past year. It has overperformed other stocks in the solar industry by 3 percentage points.

2. Jinkosolar Holding Co (NYSE:JKS)

Jinkosolar Holding Co (NYSE:JKS) is the second most undervalued solar stock based on WallStreetZen's Valuation Score. Jinkosolar Holding Co has a valuation score of 71, which is 49 points higher than the solar industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Jinkosolar Holding Co's stock has dropped -38.13% in the past year. It has overperformed other stocks in the solar industry by 13 percentage points.

3. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Canadian Solar has a valuation score of 71, which is 49 points higher than the solar industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -52.71% in the past year. It has underperformed other stocks in the solar industry by -2 percentage points.

Are solar stocks a good buy now?

41.18% of solar stocks rated by analysts are a strong buy right now. On average, analysts expect solar stocks to rise by 30.81% over the next year.

What is the average p/e ratio of the solar industry?

The average P/E ratio of the solar industry is 24.15x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.