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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

Overview Zen Score Price Valuation Financials Forecast Earnings & Revenue Dividends

Ticker	Company	Market Cap	Dividend Yield	Payout Ratio	Last Dividend	Annual Dividend	Dividend Percentile	Dividend Dropped Count (L10Y)
FSLR	FIRST SOLAR INC	$19.02B	N/A	0.00%	N/A	N/A	N/A	N/A
CSIQ	CANADIAN SOLAR INC	$998.45M	N/A	0.00%	N/A	N/A	N/A	N/A
ARRY	ARRAY TECHNOLOGIES INC	$1.69B	N/A	0.00%	N/A	N/A	N/A	N/A
JKS	JINKOSOLAR HOLDING CO LTD	$1.14B	6.92%	16.30%	$1.5000	$1.50	87%	0
ENPH	ENPHASE ENERGY INC	$15.21B	N/A	0.00%	N/A	N/A	N/A	N/A
SHLS	SHOALS TECHNOLOGIES GROUP INC	$1.41B	N/A	0.00%	N/A	N/A	N/A	N/A
SOL	EMEREN GROUP LTD	$100.19M	N/A	N/A	N/A	N/A	N/A	N/A
SEDG	SOLAREDGE TECHNOLOGIES INC	$3.41B	N/A	0.00%	N/A	N/A	N/A	N/A
BEEM	BEAM GLOBAL	$89.52M	N/A	0.00%	N/A	N/A	N/A	N/A
NXT	NEXTRACKER INC	$6.11B	N/A	N/A	N/A	N/A	N/A	N/A
FTCI	FTC SOLAR INC	$51.12M	N/A	0.00%	N/A	N/A	N/A	N/A
SPWR	SUNPOWER CORP	$405.08M	N/A	0.00%	N/A	N/A	N/A	N/A
SPRU	SPRUCE POWER HOLDING CORP	$60.38M	N/A	0.00%	N/A	N/A	N/A	N/A
MAXN	MAXEON SOLAR TECHNOLOGIES LTD	$111.37M	N/A	0.00%	N/A	N/A	N/A	N/A
ISUN	ISUN INC	$8.20M	N/A	N/A	N/A	N/A	N/A	N/A
TYGO	TIGO ENERGY INC	$54.85M	N/A	0.00%	N/A	N/A	N/A	N/A
RUN	SUNRUN INC	$2.38B	N/A	0.00%	N/A	N/A	N/A	N/A
SPI	SPI ENERGY CO LTD	$15.58M	N/A	0.00%	N/A	N/A	N/A	N/A
NOVA	SUNNOVA ENERGY INTERNATIONAL INC	$480.14M	N/A	0.00%	N/A	N/A	N/A	N/A
PEGY	PINEAPPLE ENERGY INC	$3.01M	N/A	0.00%	$0.0200	N/A	N/A	2
TURB	TURBO ENERGY SA	$12.67M	N/A	N/A	N/A	N/A	N/A	N/A
ASTI	ASCENT SOLAR TECHNOLOGIES INC	$402.15k	N/A	0.00%	N/A	N/A	N/A	N/A
VVPR	VIVOPOWER INTERNATIONAL PLC	$10.11M	N/A	0.00%	N/A	N/A	N/A	N/A

Solar Stocks FAQ

What are the best solar stocks to buy right now in Apr 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 64, which is 32 points higher than the solar industry average of 32. It passed 21 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock lose -18.68% over the past year, overperforming other solar stocks by 38 percentage points.

First Solar has an average 1 year price target of $219.73, an upside of 23.44% from First Solar's current stock price of $178.01.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 15 analysts covering First Solar, 60% have issued a Strong Buy rating, 26.67% have issued a Buy, 13.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the second best solar stock with a Zen Score of 60, which is 28 points higher than the solar industry average of 32. It passed 19 out of 33 due diligence checks and has strong fundamentals. Canadian Solar has seen its stock lose -62.9% over the past year, underperforming other solar stocks by -6 percentage points.

Canadian Solar has an average 1 year price target of $27.01, an upside of 78.66% from Canadian Solar's current stock price of $15.12.

Canadian Solar stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Canadian Solar, 14.29% have issued a Strong Buy rating, 14.29% have issued a Buy, 42.86% have issued a hold, while 0% have issued a Sell rating, and 28.57% have issued a Strong Sell.

3. Array Technologies (NASDAQ:ARRY)

Array Technologies (NASDAQ:ARRY) is the third best solar stock with a Zen Score of 58, which is 26 points higher than the solar industry average of 32. It passed 18 out of 33 due diligence checks and has strong fundamentals. Array Technologies has seen its stock lose -49.07% over the past year, overperforming other solar stocks by 8 percentage points.

Array Technologies has an average 1 year price target of $20.08, an upside of 79.74% from Array Technologies's current stock price of $11.17.

Array Technologies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Array Technologies, 46.15% have issued a Strong Buy rating, 0% have issued a Buy, 53.85% have issued a hold, while 0% have issued a Sell rating, and 0% 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 6.92%, which is the same as the solar industry average of 6.92%.

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 up?

Solar stocks were up 1.59% in the last day, and down -8.51% over the last week. Beam Global was the among the top gainers in the solar industry, gaining 12.32% yesterday.

Beam Global shares are trading higher after the company reported mixed Q4 financial results.

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 86, which is 59 points higher than the solar industry average of 27. It passed 6 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -49.07% in the past year. It has overperformed other stocks in the solar industry by 8 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 44 points higher than the solar industry average of 27. It passed 5 out of 7 valuation due diligence checks.

Jinkosolar Holding Co's stock has dropped -57.02% in the past year. It has performed in line with other stocks in the solar industry.

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 44 points higher than the solar industry average of 27. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -62.9% in the past year. It has underperformed other stocks in the solar industry by -6 percentage points.

Are solar stocks a good buy now?

33.33% of solar stocks rated by analysts are a strong buy right now. On average, analysts expect solar stocks to rise by 39.3% 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 26.15x.

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.