In this article, we discuss the 10 best solar energy stocks to buy today. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Solar Energy Stocks to Buy Today.
Solar energy stocks are rebounding following the recent increase in global oil and gas prices. According to recent news from Reuters, on September 23, Brent crude reached its highest level in more than two months at $77.25 per barrel, up to $1.06, or 1.4%. The price of natural gas also went up 100% in the US and 280% in Europe this year due to low storage inventories. The renewable energy sector is benefiting from the oil and gas industry’s recovery. Shares of Enphase Energy, Inc. (NASDAQ:ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and Sunrun Inc. (NASDAQ:RUN) went up by 1.72%, 1.52%, and 4.32%, respectively, in the third week of September.
On the other hand, Invesco Solar ETF (NYSEARCA:TAN), which tracks the MAC Global Solar Energy Index, has returned 50.14% in the last year. In addition to Enphase Energy, Inc. (NASDAQ:ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and Sunrun Inc. (NASDAQ:RUN), Invesco Solar ETF’s (NYSEARCA:TAN) holdings also include solar-energy specialist Shoals Technologies Group, Inc. (NASDAQ:SHLS) and residential solar energy company Sunnova Energy International Inc. (NYSE:NOVA) which gained 2.06% and 4.96%, respectively, in the last month.
Tesla, Inc. (NASDAQ:TSLA) is one of the biggest renewable energy companies that focus on bringing sustainable energy generation to residential homes by selling lithium-ion battery stationary home energy storage, solar panel, and solar roof in the US and globally. Shares of Tesla, Inc. (NASDAQ:TSLA) increased by 83.37% in the past twelve months.
Renewable energy is becoming more compelling to investors as the need to address the climate catastrophe by reducing carbon emissions becomes more widely recognized. Investors poured $174 billion into renewable energy technologies and companies in the first half of 2021, according to data from BloombergNEF, as reported by Bloomberg. Furthermore, investment in solar projects increased by 9% to $78.9 billion.
According to Valuates Reports’ market outlook report, the global solar energy market is expected to grow at a compound annual rate of 20.5% to $223.3 billion by 2026. The growth of the solar energy sector is supported by the growing adoption of residential, commercial, and community solar energy …….