Sectors & Industries TechnologySolar
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

Overview Zen Score Price Valuation Financials Forecast Earnings & Revenue

Ticker	Company	Market Cap	Revenue	EBITDA	Earnings	EPS	Revenue Growth Y/Y	Revenue Growth 5Y	Earnings Growth Y/Y	Earnings Growth 5Y	Earnings Date
FSLR	FIRST SOLAR INC	$25.74B	$3.76B	$1.68B	$1.20B	$11.25	25.88%	8.67%	665.31%	117.71%	2024-10-29
ENPH	ENPHASE ENERGY INC	$15.89B	$1.42B	$239.08M	$129.61M	$0.96	-49.21%	28.56%	-77.20%	57.20%	2024-10-24
JKS	JINKOSOLAR HOLDING CO LTD	$1.04B	$16.41B	$1.94B	$476.82M	$9.18	40.35%	35.80%	421.44%	43.71%	2024-10-28
SHLS	SHOALS TECHNOLOGIES GROUP INC	$1.04B	$454.70M	$63.08M	$23.33M	$0.14	10.97%	N/A	-88.89%	N/A	2024-11-05
CSIQ	CANADIAN SOLAR INC	$952.37M	$6.51B	N/A	$36.68M	$0.52	-18.28%	15.34%	-91.81%	-32.78%	2024-11-14
SOL	EMEREN GROUP LTD	$114.30M	$103.58M	N/A	-$16.87M	N/A	7.56%	15.24%	N/A	N/A	2024-11-19
ARRY	ARRAY TECHNOLOGIES INC	$1.01B	$1.10B	$162.42M	$20.49M	$0.15	-38.88%	N/A	-71.70%	N/A	2024-11-05
NXT	NEXTRACKER INC	$5.30B	$2.74B	$717.24M	$557.36M	$4.36	38.50%	N/A	N/A	N/A	2024-10-26
BEEM	BEAM GLOBAL	$75.15M	$65.89M	-$13.54M	-$16.65M	-$1.32	45.30%	65.72%	N/A	N/A	2024-11-12
ZEO	ZEO ENERGY CORP	$106.69M	$95.83M	$2.21M	-$932.86k	$2.61	-13.34%	N/A	-70.07%	N/A
SPI	SPI ENERGY CO LTD	$12.80M	$209.89M	-$6.82M	-$24.70M	-$0.92	20.97%	N/A	N/A	N/A	2024-11-18
SPRU	SPRUCE POWER HOLDING CORP	$48.06M	$79.72M	$7.06M	-$60.53M	-$3.30	24.36%	N/A	N/A	N/A	2024-11-07
ASTI	ASCENT SOLAR TECHNOLOGIES INC	$2.83M	$266.08k	-$11.69M	-$31.04M	$2.76k	8.81%	-16.91%	N/A	N/A	2024-11-12
SEDG	SOLAREDGE TECHNOLOGIES INC	$1.21B	$1.51B	-$510.15M	-$511.69M	-$9.02	-58.74%	6.61%	N/A	N/A	2024-10-30
TYGO	TIGO ENERGY INC	$97.97M	$48.85M	$16.36M	-$8.55M	-$0.15	-71.70%	N/A	N/A	N/A	2024-11-05
FTCI	FTC SOLAR INC	$67.12M	$77.77M	-$47.60M	-$49.13M	-$0.40	-32.99%	N/A	N/A	N/A	2024-11-06
NOVA	SUNNOVA ENERGY INTERNATIONAL INC	$1.44B	$773.08M	$180.19M	-$353.80M	-$2.93	14.87%	45.89%	N/A	N/A	2024-10-23
RUN	SUNRUN INC	$4.28B	$2.06B	-$15.96M	-$1.37B	-$6.29	-14.84%	19.55%	N/A	N/A	2024-10-30
CSLR	COMPLETE SOLARIA INC	$195.93M	$59.85M	-$246.67M	-$260.01M	$3.65	-16.94%	N/A	N/A	N/A	2024-11-12
SMXT	SOLARMAX TECHNOLOGY INC	$36.15M	$36.74M	-$17.27M	-$19.89M	-$0.47	-31.22%	N/A	N/A	N/A
TURB	TURBO ENERGY SA	$14.88M	$14.13M	-$2.79M	-$2.17M	-$0.22	-55.94%	N/A	N/A	N/A
MAXN	MAXEON SOLAR TECHNOLOGIES LTD	$5.79M	$828.08M	-$282.47M	-$363.08M	-$7.54	-34.57%	N/A	N/A	N/A
PEGY	PINEAPPLE ENERGY INC	$1.33M	$64.50M	-$2.51M	-$21.08M	-$11.01	-0.73%	14.71%	N/A	N/A	2024-11-07
VVPR	VIVOPOWER INTERNATIONAL PLC	$3.56M	$12.24M	-$11.87M	-$20.97M	-$0.22	-38.18%	N/A	N/A	N/A	2024-09-30

Solar Stocks FAQ

What are the best solar stocks to buy right now in Sep 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 68, which is 41 points higher than the solar industry average of 27. It passed 23 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock return 42.13% over the past year, overperforming other solar stocks by 103 percentage points.

First Solar has an average 1 year price target of $290.52, an upside of 20.83% from First Solar's current stock price of $240.45.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 21 analysts covering First Solar, 66.67% have issued a Strong Buy rating, 23.81% have issued a Buy, 9.52% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH) is the second best solar stock with a Zen Score of 52, which is 25 points higher than the solar industry average of 27. It passed 17 out of 33 due diligence checks and has strong fundamentals. Enphase Energy has seen its stock lose -3.87% over the past year, overperforming other solar stocks by 57 percentage points.

Enphase Energy has an average 1 year price target of $122.49, an upside of 4.37% from Enphase Energy's current stock price of $117.36.

Enphase Energy stock has a consensus Buy recommendation according to Wall Street analysts. Of the 22 analysts covering Enphase Energy, 45.45% have issued a Strong Buy rating, 13.64% have issued a Buy, 27.27% have issued a hold, while 4.55% have issued a Sell rating, and 9.09% 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 51, which is 24 points higher than the solar industry average of 27. It passed 19 out of 38 due diligence checks and has strong fundamentals. Jinkosolar Holding Co has seen its stock lose -31% over the past year, overperforming other solar stocks by 30 percentage points.

Jinkosolar Holding Co has an average 1 year price target of $22.67, an upside of 13.68% from Jinkosolar Holding Co's current stock price of $19.94.

Jinkosolar Holding Co stock has a consensus Sell recommendation according to Wall Street analysts. Of the 3 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 15.05%, which is the same as the solar industry average of 15.05%.

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 -1.07% in the last day, and up 4.6% over the last week. Sunrun was the among the top losers in the solar industry, dropping -5.76% yesterday.

Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

What are the most undervalued solar stocks?

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

1. Zeo Energy (NASDAQ:ZEO)

Zeo Energy (NASDAQ:ZEO) is the most undervalued solar stock based on WallStreetZen's Valuation Score. Zeo Energy has a valuation score of 57, which is 34 points higher than the solar industry average of 23. It passed 4 out of 7 valuation due diligence checks.

Zeo Energy's stock has dropped -76.68% in the past year. It has underperformed other stocks in the solar industry by -16 percentage points.

2. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the second most undervalued solar stock based on WallStreetZen's Valuation Score. Canadian Solar has a valuation score of 43, which is 20 points higher than the solar industry average of 23. It passed 3 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -46.57% in the past year. It has overperformed other stocks in the solar industry by 14 percentage points.

3. Array Technologies (NASDAQ:ARRY)

Array Technologies (NASDAQ:ARRY) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Array Technologies has a valuation score of 43, which is 20 points higher than the solar industry average of 23. It passed 3 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -73.54% in the past year. It has underperformed other stocks in the solar industry by -13 percentage points.

Are solar stocks a good buy now?

50% of solar stocks rated by analysts are a buy right now. On average, analysts expect solar stocks to rise by 28.51% 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 44.89x.

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.