Tuesday Dec 06, 2022

7 Solar Stocks to Buy and Hold for a Bright Future – InvestorPlace


While energy always has been a vital geopolitical issue, the current conflict has set any investors looking for the best solar stocks to buy.

Tied to the broader renewable energy sector, the solar industry is fundamentally enticing, converting free and available sunlight into usable power.

Europe has accelerated efforts to implement renewable energy infrastructures. The U.S. also has its eye on infrastructure, particularly with the rollout of electric vehicles. By powering cars with renewables, the U.S. and its allies could reduce foreign energy dependence.

Publicly traded solar companies have proven volatile and this year has proven no different. Nevertheless, at the end of the day, diversifying energy infrastructures and resource channels will likely be the ultimate goal. Just remember to consider the long term when looking for solar stocks to buy.

FSLR First Solar $72.00
CSIQ Canadian Solar $35.09
SEDG SolarEdge Technologies $306.42
ENPH Enphase Energy $209.63
JKS JinkoSolar $66.78
DQ Daqo New Energy $64.01
SPWR SunPower $19.36

First Solar (FSLR)

Source: IgorGolovniov / Shutterstock.com

One of the most popular names among solar stocks to buy, First Solar (NASDAQ:FSLR) mainly provides solar panels and photovoltaic powerplants.

In addition, it offers construction and maintenance services, along with recycling processes for solar-related equipment. First Solar distinguishes itself from the competition through its ultra-thin semiconductor technology, enabling enhanced efficiency and resilience for its modules.

Initially, the company saw a robust move up following Russia’s attack on Ukraine. However, since early April, FSLR shares have admittedly suffered significant headwinds. A disappointing print for its first quarter of 2022 earnings didn’t help. Revenue declined 54% year over year.

Still, with a current market capitalization of almost $8 billion, FSLR also is one of the larger solar stocks to buy. Down more than 18% against the start of the year, those investors with a patient outlook may want to consider adding First Solar to their portfolios.

Canadian Solar (CSIQ)

Source: Shutter B Photo / Shutterstock.com

Canadian Solar (NASDAQ:CSIQ) focuses on the design, manufacturing and distribution of modules for residential, commercial and industrial clients.

In addition to modules, Canadian Solar offers inverters and system kits. Per its website, the company has subsidiaries in 23 countries and regions on six continents, along with 20 manufacturing facilities in Asia and the Americas.

Benefitting partially from renewed interest in renewable energy solutions, Canadian Solar posted revenue of $1.25 billion in Q1 of this year, up nearly 15% from the $1.09 billion in sales posted in the year-ago quarter.

CSIQ is up 12% year to date. The Nasdaq index is down over 24% during the same period, making Canadian Solar intriguing on a relative level.

SolarEdge Technologies (SEDG)

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Source: https://investorplace.com/2022/06/7-solar-stocks-to-buy-and-hold-for-bright-future/

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