Are These The Solar Shares To Purchase Forward Of A Biden Presidency?

Are These The Solar Stocks To Buy Ahead Of A Biden Presidency?

Making a list of the best solar stocks to see right now? Here are 3 for your list.

Solar stocks are in great demand with investors. These stocks made huge gains in the stock market in 2020 alone. When Joe Biden ran on a platform for a clean energy revolution, things certainly looked sunny for the industry. One of the president-elect’s plans is to invest over $ 400 billion in the clean energy industry over the next 10 years. Biden will also found ARPA-C, a new research agency focused on accelerating climate technologies.

Biden also pledges to put the US on an irreversible path to achieve net-zero economy-wide emissions by 2050 at the latest. To achieve this, it will undoubtedly require the efforts of the solar industry. Solar energy accounted for only 1.7% of total energy consumption in the US in 2019. That number will no doubt increase in the years to come as we move away from fossil fuels. After all, a world powered by solar energy would be a cleaner and more sustainable place to live.

Recently, a leading solar developer and installer, Sunrun (RUN Stock Report) announced a partnership with Southern California Edison (SCE) to create a virtual power plant. Southern California Edison is one of the largest network operators in the country and a subsidiary of Edison International (EIX Stock Report). Sunrun will supply SCE with an output of 5 MW for events with high demand such as extreme heat waves. Sunrun’s move could pave the way for further partnerships like this one for the solar industry. With renewable energy investments accelerating at an unprecedented pace, here are the top three solar stocks to watch out for before December 2020.

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Best Solar Stocks To Buy [Or Sell] Before December 2020: Enphase

Enphase (ENPH ​​Stock Report) is an industry treasure that offers an all-in-one solar and storage system. The company is a leader in solar storage systems based on microinverters and has performed extremely well on the stock exchange this year. Solar panels may be what we see, but it’s the inverter that does all the real work. Enphase happens to have the most advanced inverters on the market. The company’s shares are up over 330% since the start of the year, trading at $ 131.52 as of 9:32 a.m. ET.

The company had just announced its third quarter results last month, much to the delight of investors. The company saw a record 41% increase in gross margin and revenue to $ 178.5 million. Enphase had shipped 478 MW DC or 1.4 million microinverters in the third quarter alone. These staggering numbers could be the reason for strong optimism among investors. For the company’s fourth quarter financial outlook, Enphase expects revenues in the range of $ 245 million to $ 260 million.

The company recently announced that it has entered into an agreement with MSpectrum. MSpectrum is a solar energy company headquartered in Pasig, Philippines. It will help distribute Enphase products to residential and commercial installers in the Philippines. In addition, the Enphase IQ 7 family of products is expected to be available through MSpectrum in the first quarter of 2021. Given the many positive developments going on around the company, will ENPH stock be one of the best solar stocks to buy right now?

Best Solar Stocks To Buy [Or Sell] Before December 2020: First Solar Inc.

First Solar (FSLR Stock Report) is an Arizona-based company that manufactures solar power systems and solar modules. The company uses thin-film semiconductor technology to manufacture its solar modules. First Solar was the first to reduce manufacturing costs to $ 1 per watt in 2009. The company hopes the Series 6 panel will hit an all-time low of just $ 0.14 per watt by 2024. This is proof of how much solar energy costs have decreased significantly and will accelerate the adoption of this renewable form of energy. First Solar’s shares are up 178% from their March lows.

best energy stocks to buy (FSLR share)

The company just announced its financial results for the third quarter in October. In addition, First Solar had net sales of $ 928 million, an increase of 44% over the previous quarter. This gain is due to an increase in the volume of modules sold to third parties. The company also reported earnings per share of $ 1.45 and cash flow of $ 1.4 billion. Given the high level of cash on hand and the growing solar energy market, the company could expand its capacity in the near future. First Solar has spent approximately $ 1 billion over the past three years to expand its capacity to the new Series 6 solar modules.

The company is now focused on the manufacture of solar modules. In fact, this might be the right move for the company as companies modularize and specialize to improve the company’s gross margin. With a forecast of 1.8 GW to 2.0 GW for shipments in the company’s fourth quarter, First Solar will have a production capacity of approximately 7.6 GW in 2021. Given the forecast made by the company’s management team, could FSLR stock turn out to be top solar? Buy share now?

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Best Solar Stocks To Buy [Or Sell] Before December 2020: NextEra Energy

NextEra (NEE Stock Report) is the world’s largest producer of wind and solar energy. The company has a tremendous generation capacity of 45,500 MW and will undoubtedly play a crucial role in the Biden presidency. As one of the country’s largest capital investors in infrastructure, NextEra has planned investments of between $ 50 billion and $ 55 billion between 2020 and 2022.

Energy shares to be bought (NEE share)

The company is essentially a holding company for three different business areas, Florida Power & Light (FPL), Gulf Power and NextEra Energy Resources. In addition, FPL supplies electricity to over 5 million customers in Florida. Investors, along with their fast growing renewable energy business, will own a successful utility company by investing in NEE stocks. Most of the company’s electricity revenue comes from private customers. This would be good news for NextEra as more people would work from home and increase electricity consumption. NextEra Energy Resources, on the other hand, is the world leader in battery storage.

In the most recent fiscal year of NextEra, the company reported net income for Gulf Power and FPL increasing 19% and 10% year over year, respectively. A big plus with NextEra is that it pays a dividend yield of 1.8%. Thanks to the steady cash flow from the electronics business, the company is a solid dividend payer. Strong earnings growth is also forecast for the company in the coming years. Given the widespread adoption of solar energy, will you consider adding NEE stocks to your portfolio?

The views and opinions expressed are those of the author and do not necessarily reflect those of Nasdaq, Inc.


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