Solar has been one of the best performing sectors in 2019. After a decade of declining costs, solar power is now more affordable than ever before. Photovoltaic modules – the building blocks of solar panels – are becoming more cost-efficient. The falling costs draw attention of industry giants, making them sign long-term contracts with renewable energy manufacturers.
Solar goes corporate: powering American top brands
American top corporations – led by Amazon and Apple – are pouring investments into solar energy. According to SEIA (the Solar Energy Industries Association), commercial businesses turn to solar for several major reasons:
To power their operations
To meet environmental goals
Today, going solar is considered a smart business decision. No matter what a company specialises in and uses solar power for – to power retail centers, support cloud computing, or manufacture consumer products – they do it to move their operations forward.
Leading US corporations are turning to solar energy as a cost-effective way to power their operations. As of 2018, Apple takes the lead with the most solar capacity installed, followed by Amazon, Target, Walmart, Switch and Google.
Solar stock outlook: will the momentum continue in Q2?
What make solar industry stocks surge in 2019? According to Delloitte’s 2019 energy report, there are several fundamental drivers of this growth, complemented by three more trends that are likely to shape renewable energy market growth in the second part of 2019 and in the coming years.
The major fundamentals are:
Declining costs of solar generation
Improvements in battery storage technology
Growing expertise of grid operators
Strong demand from various market sectors
The three emerging trends that may have a significant impact on the renewable energy growth in 2019 include:
- Emerging policies. New policies and initiatives at local, state and federal levels will likely to boost solar energy growth for the upcoming years. For example, one of the American states Hawaii set an ambitious goal to go “100 percent renewable by 2045”.
- Expanding investments. Growing popularity of solar power among big corporations is expanding to smaller businesses. As corporate procurement is rapidly expanding, smaller companies start entering rerewable market, developing new solar and wind projects. Even oil and gas giants explore the option to diversify their business with renewable energy.
- Advanced technologies. Comprehensive energy software platforms, end-to-end analytics-based solutions, incorporating solar, storage and home energy management systems will enable the whole renewable sector to open new businesses and develop new revenue models.
Top 3 solar stocks to invest in for the rest of the year
- Are solar stocks a good investment?
- In line with the overall growth of the renewable and solar market in particular, solar company stocks showcase promising potential.
- How to invest in solar stocks?
- If you’re not ready to take a stake in a solar market by making long-term investments in solar companies’ shares, you can always refer to contracts for difference (CFDs).
- What solar company to invest in?
- It you’re looking for top solar companies to invest in with CFDs, here’s the list of the 3 best-performing solar stocks that may fill up your investment portfolio.
Founded in 2006, JinkoSolar is a rapidly-growing producer of solar products, including silicon wafers, solar modules and solar cells. The company has an international network, stretching across the North America, Asia and Europe.
Listed as one of the largest solar module manufacturers in the world, JinkoSolar distributes its solar products to commercial and residential customers in 70 countries around the world.
As the cost of solar technology is gradually decreasing, the Chinese government will likely to cut down the prices offered to solar developers. It will enable solar companies, like JinkoSolar, to compete with coal-fired energy providers.
Listed and traded on the New York Stock Exchange (NYSE), JinkoSolar stock has reached its all-time high of 38.92 on 3 November 2010. The latest closing stock price for JinkoSolar as of 16 September 2019 is 20.31. The analysts offering 12-months price forecast for JinkoSolar stock predict a +690.96% increase from the latest price.
Trade JinkoSolar Holding Co., Ltd. - JKS CFD
Founded in 1990, First Solar has become one of the largest global solar manufacturers. The company has installed more than 1.5 gigawatts of solar power installations around the world, including the Waldpolenz Solar Park in Germany, which has one of the largest photovoltaic systems in the world. As of today, First Solar keeps the lead and remains one of the most profitable solar power companies.
The company is well-known for investing heavily in research and development, increasing the efficiency of its thin film module technologies. The company specialises in cadmium telluride-based photovoltaic modules and has developed innovative solar technologies that have already broken several solar efficiency records.
Listed and traded on the NASDAQ stock exchange and included to the S&P 400 stock market index, First Solar has reached its all-time high of 311.14 on 16 May 2008. The latest closing stock price for First Solar as of 16 September 2019 is 63.44. The analysts offering 12-months price forecasts for First Solar stock predict a +22.40% increase from the latest price.
Scatec Solar is an integrated solar power manufacturer, delivering rapidly deployable, affordable and sustainable source of clean energy worldwide. A long-term player on the solar market, Scatec Solar operates, builds and maintains solar power plants and installations of more than 1 GW.
Headquartered in Oslo, Norway, the company has a total of 1.7 GW under construction in Brazil, Argentina, Egypt, the Czech Republic, Jordan, Rwanda, Honduras, Ukraine, South Africa, Mozambique and Malaysia.
The company’s goal is to achieve a capacity of 3.5 GW in operation and under construction by the end of 2021. Scatec Solar has an extended global presence and is listed on the OSLO Stock Exchange under the ticker symbol SSO.
A Norwegian-located independent power producer (IPP) Scatec Solar shared strong numbers with its second quarter 2019 results. The company claims that this is the best quarter ever and solar power production has almost tripled from the same time a year ago. The latest Scatec Solar stock price is $105. According to the latest forecast, expecting a long-term price increase, SSO shares could be ranked as a good investment in the long run.
In the end
Despite the global economic slowdown and the growing US-China trade tensions, Solar stocks continue booming. The renewable energy sector has witnessed a significant growth in the last decade, with huge potential for future surge. The significance of green energy worldwide is proved by the initiatives like the International Solar Alliance. The sector is expected to experience continuous growth, which indicates a good time to invest in solar stocks.