4 solar stocks that could be even better than Tesla


The solar industry may not be a big market as it only accounts for 2% of the total electricity generated in the United States. Worldwide, it is a $53 billion industry. But it is growing like crazy as it is expected to be worth $223.3 billion by 2026. Tesla Inc. (NASDAQ: TSLA) is attracting a lot of attention even in this industry with its soaring stock price. But Tesla still doesn’t have a consistent profit history, so many argue the company is inflated relative to its book value, as well as its bottom line. As for the EV race, Tesla is way ahead. But, in renewable energies, Enphase Energy Inc (NASDAQ: ENPH), Brookfield Renewable Partners LP (NYSE: BEP) as well as the recently separated company Sun Power Corporation (NASDAQ: SPWR) and Maxeon Solar Technologies (NASDAQ: MAXNV) are much better positioned to win this race.


Enphase Energy has measurable fundamentals as a supplier for solar energy growth. It provides microinverters for solar panels as well as solar system tracking and storage technologies. Since acquiring SunPower’s microinverter business in 2018, Enphase has posted admirable sales and profitability. Its revenue growth has outpaced that of Tesla over the past three years. Moreover, the future looks bright for the company as the International Energy Agency has predicted that solar power generation will increase by an average of 15% per year over the next decade. In addition to its already thriving microinverter business, Enphase also began shipping its Encharge energy storage systems in June. Therefore, this business can only continue to grow with solar growth.

Brookfield Renewable Partners

If there’s one aspect that Tesla failed to turn into a breakthrough, it’s the solar sector. After acquiring SolarCity a few years ago, Tesla scaled back its solar business and broke the promise made by Elon Musk. But Brookfield Renewable, whose core business is developing and operating utility-scale renewable power generation facilities, is a good solar company. Over the past few years, the company has delivered wonderful returns to investors by making solar its top priority.

SunPower and Maxeon Solar Technologies – better separated?

Solar panel installer SunPower recently began life independently of the division that manufactured the solar panels it installs, which is now called Maxeon Solar Technologies. This was a long-awaited spin-off as it will allow Maxeon to expand its footprint in solar panel manufacturing, while SunPower will further develop solar panels and battery storage systems. Following this separation, shares of SunPower rose nearly 24% while Maxeon rose 16.2%. SunPower CEO Tom Werner explained that the split is intended to allow both companies to specialize in programs that will unlock their future growth and profitability.

Federal support

Besides the cost advantage, there is the regulatory support that fuels the sector. Already 28 states have set CO2 emission reduction targets and 23 states have signed the US Climate Alliance’s pledge to cut emissions 28% by 2025. If Biden wins, the sky looks a lot higher. brighter than if Trump remains president for four more years. But at this point, the solar industry doesn’t even need federal government support to thrive. Just like the Sun itself, it is unstoppable.


In the first quarter of this unprecedented year, residential solar installations hit an all-time high. Last year, solar energy accounted for 40% of all new energy capacity. It is growing because it is now competitive with traditional energy sources. The cost of solar power has dropped 90% over the past decade. In addition, the price of residential solar power is expected to fall another 17% over the next five years. SunPower, Enphase, and Brookfield Renewable Partners may not have the flamboyance and skyrocketing share price of Tesla, but they’re still great companies with a great avenue for growth.

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