7 best renewable energy stocks to buy in Q1 2024

Companies leading the charge to find alternative forms of energy are some of the hottest businesses around. Here, our experts pick their top seven green energy companies to invest in this year.
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Updated: Nov 30, 2023
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We’ve analysed the markets to find the renewable energy stocks we’re most excited by at the moment. This page includes the best stocks in the green energy sector to invest in, along with some help on how to find your own.

What are the top renewable energy stocks to buy in 2024?

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This is our list of the best renewable energy stocks, ranked in order of their future potential. Use the links in the table to find their latest price, or scroll down for more information on why we chose each one.

#Stock symbolCompany nameTrade now
1SEDGSolarEdge Technologies Inc.
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2SPWRSunPower Corporation
Trade SPWR

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3DQDaqo New Energy Corp.
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4PLUGPlug Power Inc.
Trade PLUG

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5SOLEmeren Group
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6FSLRFirst Solar
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7CWENClearway Energy
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List chosen by our team of analysts, updated February 2024.

1. SolarEdge Technologies Inc. (NASDAQ: SEDG)

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Founded in 2006 and headquartered in Herzliya, Israel, SolarEdge primarily designs, develops and sells direct current (DC) optimised inverter systems for solar photovoltaic (PV) installations worldwide. In essence, this technology plays a key role in the overall effectiveness of solar generation systems.

However, SolarEdge’s diverse suite of products doesn’t end there. The company’s offerings also include residential, commercial, and large scale photovoltaics, electric vehicle charging, home energy management solutions, and energy storage and backup. Since its IPO in 2015, SolarEdge’s share price has surged in value by hundreds of per cent, generating a consistent annual revenue of over $1 billion.

This rapid growth and consistently strong financial performance is what has secured SolarEdge a spot on our list. It is one of the top-performing solar stocks of the last decade, and despite increased competition and the negative impacts of COVID-19, it has still managed to remain at the front of the pack. With a history of innovation, SolarEdge stands out as one of the most promising renewable energy companies.

You can learn more about buying SolarEdge stock by clicking here.

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 2. SunPower Corporation (NASDAQ: SPWR)

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SunPower is a US-based company that sells solar panels to residential and commercial customers. It also sells renewable energy management software, again targeted at home and office owners.

Initially a solar panel manufacturer as well, SunPower spun off its manufacturing wing in August 2020. That decision to focus on software and sales, two high-growth areas, sent its share price up 600% by the end of the year.

Although it has fallen back a bit since then, SunPower is leaning into its new, slimmed-down, frame, which has it second on our list of the best renewable energy stocks. Its new CEO wants to make buying solar energy panels as easy as ordering from Amazon, and there is a huge, untapped market for them – only 3% of homes in America are producing energy from solar generation right now. 

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 3. Daqo New Energy Corp. (NYSE: DQ)

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Daqo New Energy is a Chinese company that manufactures polysilicon – metal parts that help build solar modules. 

Demand for polysilicon has exploded over the last year, as the revolution in clean energy production gathers pace. Driven by these attempts to create alternative renewable energy sources, Daqo’s shares increased by an eye-watering 1,000% in 13 months between January 2020 and February 2021.

Even if that sort of rise is – obviously – not sustainable, the demand for solar panels is. Like semiconductor chip manufacturers who play a vital, if lesser-known, role in computing, producing the vital hardware during a boom in renewable energy could be big business for Daqo moving forward.

You can learn more about buying DQ stock by clicking here.

Sign-up & trade Daqo New Energy Corp.

4. Plug Power Inc. (NASDAQ: PLUG)

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Plug Power develops hydrogen fuel cells, which are clean alternatives to battery power and can be used in cars and power plants. Formed in 1997, it actually hit massive highs during the dot com bubble and fell back to plugging along slowly until the renewables boom hit in 2020.

Like every other company on this list, that boom sent PLUG’s share price flying again. It was up 1,500% in a year, most of which came after Joe Biden won the presidential election in November. The expectation of a much more green-friendly political scene was enough for investors to pile in.

There have been a few setbacks since then, and the price is still based on potential rather than hard results. But Plug Power is on this list because it has already struck deals with companies like Renault to supply the fuel cells for its electric vehicles. Major deals like that are proof that the demand for its technology is there.

Sign-up & trade Plug Power Inc.

5. Emeren Group Ltd. (NYSE: SOL)

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ReneSola is a Chinese company that’s listed in the United States, and operates like a project manager of solar energy infrastructure developments. It focuses on financing and managing green energy projects in the US and Europe.

Once again, its shares took off after the election results, going up 500% in a month between December 2020 and January 2021. Since then, there has been a bit of a tail-off, but that is more likely to be investors taking a profit rather than any statement on the underlying business.

That business is doing well. It essentially manages infrastructure projects and sells them on once they’re complete, and it expects to have doubled the amount in late stage development by the end of 2021, compared to a year earlier. Its stock can be a rollercoaster, but ReneSola is churning out solar power at a relentless rate.

Sign-up & trade ReneSola Ltd.

6. First Solar (NYSE: FSLR)

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As its name suggests, First Solar is a company that is focused on solar technology. More specifically, it manufactures solar panels and develops utility scale solar power plans.

As one of the worlds largest solar companies, First Solar is positioned well to capitalise on the expected growth in the solar energy industry. As decarbonisation policies worldwide, push more people and businesses to clean energy sources, First Solar may benefit from its already established infrastructure.

2022 was a solid year for the company which received record bookings for its advanced thin film photovoltaic modules, which are more efficient than traditional panels in hot climates. The company also has a growing pipeline of new solar projects under development across America and India which once complete, will strengthen its position.

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6. Clearway Energy (NYSE: CWEN)

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Clearway Energy is a renewable energy company involved in utility scale wind, solar, and natural gas power generation. The company has locations spread across the United States and over 5 gigawatts of renewable energy capacity.

In recent times, the company has targeted significant expansion and aims to double its renewable energy generation portfolio in the next 5 years through new wind, solar, and battery storage projects.

Clearway provides clean power to customers and has several long term contracts with large corporations and agencies. With a 4.5% dividend yield, Clearway Energy gives investors a clean way to benefit from America’s transition toward wind and solar power.

Sign-up & trade Clearway

Where to buy the best renewable energy stocks

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You can use the brokers below to dive in and get your stocks now. Our team of financial experts have reviewed all of the leading platforms to pick out the best ones, and all of the ones in our list are bursting with features to help you invest.

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What is a green energy stock?

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Green energy stocks are publicly traded companies that produce energy solutions from renewable sources like wind, solar, geothermal, and hydroelectric power. Renewable energy stocks are poised for growth as the world strives to tackle climate change and achieve net zero emissions.

Major green energy companies build and operate solar farms, wind turbines, battery storage facilities, electric vehicle charging networks, and infrastructure to produce green hydrogen. Investing in renewable energy stocks gives exposure to the global transition away from fossil fuels toward clean energy.

According to the International Energy Agency, renewable sources generated over 30% of global electricity demand in 2021, with capacity additions hitting a new high. As demand rises for renewable power from utilities, businesses, and households, green energy companies stand to benefit.

Leading renewable energy stocks operate portfolios of wind farms, solar plants, and other low carbon assets while expanding into high-growth markets. Policy incentives, technology improvements, and electrification should propel the industry forward.

Are renewable energy shares a good investment?

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It certainly looks like it, with people worldwide becoming more eager to find alternative energy sources to ward off the danger of climate change. Shares in companies that provide clean energy have been volatile over the past year, but there’s no doubt the demand for their products exists.

Major renewable energy companies operate large portfolios of clean power assets that generate stable revenues from selling electricity to utilities and businesses. As demand rises for renewable electricity to replace fossil fuels and achieve climate goals, renewable energy companies are expanding wind farms and solar capacity and moving into emerging areas like offshore wind, electric vehicles, and lithium ion batteries.

However, renewable energy remains a small portion of overall energy production. Individual companies face risks such as project delays, fluctuating oil and natural gas prices, and changes to environmental policies. The renewable energy industry is capital intensive and competitive. Many investors gain exposure through ESG funds focused on cleantech rather than picking individual stocks.

While the clean energy revolution brings risks, renewable energy stocks offer a promising growth opportunity. As onshore and offshore wind power, solar energy, and other renewables play more prominent roles in the global energy mix, shares of leading renewable energy companies should benefit.

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Latest renewable energy news

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Transocean (NYSE: RIG) stock price has been in trouble as I predicted in October. It was trading at $5.70 on Thursday, down by over 35% from its highest point in 2023. This pullback has brought the company’s market cap to $4.6 billion while its short interest has remained steady at 18.6%.  Tran
Brent and West Texas Intermediate (WTI) crude oil prices crashed hard last week even as the Red Sea attacks jumped. Brent crude crashed for three straight days and settled at $77.40, dropping by over 8% from its highest level this year. Similarly, WTI, the American benchmark, plunged to $72, down by


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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.
Charlie Hancox
Financial Writer
Charlie is a Financial Writer for Invezz. He covers commodities, cryptocurrencies, and breaking news. Prior to joining Invezz he helped grow Crux Investor into the fastest-growing... read more.