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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 Ownership

Ticker	Company	Country	Market Cap	Shares	Institutional %	Insider %	Net Insider (L12M)	Net Insider (L3M)
FSLR	FIRST SOLAR INC	United States	$22.48B	107,046,913	76.72%	23.28%	Net Selling	Net Selling
ENPH	ENPHASE ENERGY INC	United States	$13.74B	135,422,159	58.17%	41.83%	Net Buying	Net Selling
JKS	JINKOSOLAR HOLDING CO LTD	China	$1.21B	208,560,477	6.79%	0.00%
CSIQ	CANADIAN SOLAR INC	Canada	$886.62M	66,413,750	46.32%	0.00%
SHLS	SHOALS TECHNOLOGIES GROUP INC	United States	$871.56M	166,646,253	70.88%	29.12%	Net Selling	Net Selling
SOL	EMEREN GROUP LTD	China	$135.83M	512,549,555	4.31%	74.06%	Net Buying	Net Buying
NXT	NEXTRACKER INC	United States	$5.12B	145,347,433	94.98%	5.02%	Net Selling
ARRY	ARRAY TECHNOLOGIES INC	United States	$1.02B	151,926,428	99.03%	0.97%	Net Selling	Net Selling
BEEM	BEAM GLOBAL	United States	$66.23M	14,621,141	10.50%	89.50%	Net Buying	Net Buying
ZEO	ZEO ENERGY CORP	United States	$59.50M	41,035,345	1.51%	89.26%
SPI	SPI ENERGY CO LTD	China	$20.83M	31,603,109	0.28%	99.72%
SPRU	SPRUCE POWER HOLDING CORP	United States	$47.88M	18,557,200	11.15%	88.85%	Net Selling	Net Selling
ASTI	ASCENT SOLAR TECHNOLOGIES INC	United States	$2.49M	1,023,448	0.04%	99.96%	Net Buying
SEDG	SOLAREDGE TECHNOLOGIES INC	Israel	$1.08B	57,299,404	64.30%	35.70%	Net Buying
TYGO	TIGO ENERGY INC	United States	$73.78M	60,477,864	14.33%	85.67%	Net Buying	Net Selling
FTCI	FTC SOLAR INC	United States	$61.39M	127,366,590	15.86%	76.14%	Net Buying	Net Buying
NOVA	SUNNOVA ENERGY INTERNATIONAL INC	United States	$790.39M	124,864,454	72.71%	27.29%	Net Buying	Net Selling
RUN	SUNRUN INC	United States	$3.50B	223,539,691	60.75%	39.25%	Net Selling	Net Selling
SMXT	SOLARMAX TECHNOLOGY INC	United States	$40.52M	45,019,360	3.02%	0.00%
CSLR	COMPLETE SOLARIA INC	Cayman Islands	$139.95M	63,613,798	21.55%	23.72%	Net Buying	Net Buying
TURB	TURBO ENERGY SA	Spain	$19.17M	55,085,700	0.11%	0.00%
MAXN	MAXEON SOLAR TECHNOLOGIES LTD	Singapore	$3.15M	557,056	100.00%	0.00%
PEGY	PINEAPPLE ENERGY INC	United States	$1.09M	8,723,625	1.78%	92.91%	Net Buying	Net Buying
VVPR	VIVOPOWER INTERNATIONAL PLC	United States	$2.52M	2,578,826	5.44%	15.78%	Net Buying

Solar Stocks FAQ

What are the best solar stocks to buy right now in Oct 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 72, which is 45 points higher than the solar industry average of 27. It passed 24 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock return 38.78% over the past year, overperforming other solar stocks by 110 percentage points.

First Solar has an average 1 year price target of $295.14, an upside of 40.57% from First Solar's current stock price of $209.96.

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 -20.17% over the past year, overperforming other solar stocks by 51 percentage points.

Enphase Energy has an average 1 year price target of $122.66, an upside of 20.88% from Enphase Energy's current stock price of $101.47.

Enphase Energy stock has a consensus Buy recommendation according to Wall Street analysts. Of the 21 analysts covering Enphase Energy, 47.62% have issued a Strong Buy rating, 14.29% have issued a Buy, 23.81% have issued a hold, while 4.76% have issued a Sell rating, and 9.52% 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 -24.44% over the past year, overperforming other solar stocks by 46 percentage points.

Jinkosolar Holding Co has an average 1 year price target of $19.00, a downside of -17.82% from Jinkosolar Holding Co's current stock price of $23.12.

Jinkosolar Holding Co stock has a consensus Sell recommendation according to Wall Street analysts. Of the 2 analysts covering Jinkosolar Holding Co, 0% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 50% 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 12.98%, which is the same as the solar industry average of 12.98%.

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 -1.16% in the last day, and down -8.81% over the last week.

We couldn't find a catalyst for why solar stocks are down.

What are the most undervalued solar stocks?

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

1. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the most undervalued solar stock based on WallStreetZen's Valuation Score. Canadian Solar has a valuation score of 71, which is 47 points higher than the solar industry average of 24. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -41.06% in the past year. It has overperformed other stocks in the solar industry by 30 percentage points.

2. First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR) is the second most undervalued solar stock based on WallStreetZen's Valuation Score. First Solar has a valuation score of 57, which is 33 points higher than the solar industry average of 24. It passed 4 out of 7 valuation due diligence checks.

First Solar's stock has gained 38.78% in the past year. It has overperformed other stocks in the solar industry by 110 percentage points.

3. Zeo Energy (NASDAQ:ZEO)

Zeo Energy (NASDAQ:ZEO) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Zeo Energy has a valuation score of 57, which is 33 points higher than the solar industry average of 24. It passed 4 out of 7 valuation due diligence checks.

Zeo Energy's stock has dropped -87.08% in the past year. It has underperformed other stocks in the solar industry by -16 percentage points.

Are solar stocks a good buy now?

43.75% of solar stocks rated by analysts are a buy right now. On average, analysts expect solar stocks to rise by 75.42% 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 39.01x.

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.