Best Solar Stocks 2016 – Below is my list of Top Solar Stocks for 2016. These solar stocks are companies I would invest in personally because they meet all of my criteria and check points. The main criteria is growth and right now the growth is coming from solar stocks that have business in the residential leasing sector. Installing solar panels for individuals and businesses at little to no cost while signing them into a long term contract is a great plan. While these companies lose money now, they will eventually be cash cows toward the end of the lease.
Solar Stocks are red hot right now because the U.S Govement agreed to extend a 30% tax credit into 2019. This tax credit was expected to drop to 10% in 2017. Solar Stocks set to benefit from this tax credit are SolarCity (SCTY), First Solar (FSLR), SunPower (SPWR), Canadian Solar (CSIQ), SolarEdge (SEDG).
Best Solar Stocks 2016 – Stocks to Buy – SolarCity (SCTY) – SolarCity (SCTY) continues to be my top solar stock pick for 2016. Shares of SolarCity (SCTY) recently rallied from $24-$57 since November so obviously I like it a lot less right now. SolarCity (SCTY) is the best solar stock to buy on the next big crash because Tesla (TSLA) CEO Elon Musk is the biggest shareholder in the company. SolarCity (SCTY) is seeing 85% year over year revenue growth and exanding into new states. I’m giving SCTY a 2065 price target of $65 which represents a 20% gain. SCTY is a momentum stock and can rally 20-30% in a few days off good news. However, wait for buy SCTY in the $30’s or $40’s.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States. It offers solar energy systems; solar lease and power purchase agreement finance products; mounting hardware for photovoltaic panels; and related software, as well as develops a proprietary battery management system, which is designed to enable remote, bidirectional control of distributed energy storage that can provide benefits to customers, utilities, and grid operators. The company also sells electricity generated by solar energy systems to customers. It offers its products and services through direct outside sales force; door-to-door sales force; call centers; channel partner network; and robust customer referral program.
Top Solar Stocks 2016 – First Solar (FSLR) is the cheapest solar stock in the market right now. Even after a rally from $40-$65, FSLR only trades at 15x 2015 earnings which is a very good deal if you are bullish on the solar sector. First Solar has a $6.5 billion market cap with $1.2 billion in cash in the bank. This is a solar value stock right now. Buy FSLR in 2016 below $50 if we see a big crash.
First Solar, Inc. provides solar energy solutions worldwide. The company operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells solar modules, such as CdTe modules that convert sunlight into electricity for project developers, system integrators, and operators of photovoltaic (PV) solar power systems. The Systems segment provides turn-key PV solar power systems or solar solutions, such as project development; engineering, procurement, and construction; operating and maintenance; and project finance services to investor owned utilities, independent power developers and producers, commercial and industrial companies, and PV solar power system owners.
Solar Stocks 2016 – SolarEdge Technologies, Inc. (SEDG) is a solar stock to buy in 2016 now that the company is public. SEDG recently bounced off $15 and soared to $26 on the Solar deal. SEDG is a good solar stock below $20 if we see another big dip. The company actually earns big profits and this should continue into 2016/2017.
SolarEdge Technologies, Inc. designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, Europe, the United States, and internationally. Its DC optimized inverter systems include power optimizers, inverters, and cloud-based monitoring software. The company’s products are used in a range of solar market segments, including residential, commercial, and small utility-scale solar installations. It primarily sells its products to solar installers; engineering, procurement, and construction firms; and distributors and electrical equipment wholesalers, as well as PV module manufacturers
China Solar Stocks – China is a bright spot in 2016 for solar stocks but also carries more risk. As we head into 2016, these chinese solar stocks continue to trade strongly and are nearing 52 week highs. Below is a few china solar stocks worth mentioning.
JinkoSolar (JKS) – JinkoSolar (JKS) is a solar product manufacturer. The Company designs, develops, produces, and markets photovoltaic products in the People’s Republic of China and internationally. It offers solar modules; solar cells; silicon ingots and silicon wafers; recovered silicon materials; commercial solar power projects development and solar system integration services; and processing services. The company sells its solar modules to distributors, project developers, system integrators, and other players in the solar power industry under the JinkoSolar brand, as well as on an original equipment manufacturer basis.
JA Solar (JASO) – JA Solar (JASO) is engaged in the design, development, production, marketing, and sale of photovoltaic solar cells and solar power products based on crystalline silicon technologies. The company’s principal products include monocrystalline and multicrystalline solar cells and modules. It also provides monocrystalline and multicrystalline silicon wafers; solar product processing services; and engineering, procurement, and construction services for utility companies and independent power generators. The company sells its products primarily under the JA Solar brand name, as well as produces original equipment for manufacturers or customers under their brand names. JA Solar Holdings Co., Ltd. sells its solar cell and module products to module manufacturers, system integrators, project developers, and distributors worldwide
Solar Penny Stocks
Best Solar Penny Stock – ReneSola (SOL)
ReneSola Ltd. (SOL) – Probably the best solar penny stock for 2016, still risky though. ReneSola Ltd, through its subsidiaries, manufactures and sells various solar power products. It operates through two segments, Wafer, and Cell and Module. The company offers virgin polysilicon; mono crystalline and multi crystalline solar wafers; and photovoltaic cells. It also provides mono crystalline and multi crystalline solar modules for use in various residential, commercial, industrial, and other solar power generation systems. In addition, the company offers wafer processing services. It offers its products to the manufacturers of solar cells and modules, distributors, installers, and end users of solar modules. The company operates in Mainland China, Taiwan, Australia, Singapore, Korea, India, Hong Kong, Japan, Germany, Greece, Belgium, Italy, France, the United States, Spain, Czech Republic, England, the Netherlands, and South Africa.
Sunedison (SUNE) – Sunedison (SUNE) recently exploded from $2.50-$6.50 so it’s out of penny stock territory, for now. Buy SUNE on a dip into the $3’s in 2016. SunEdison, Inc. is a developer and seller of photovoltaic energy solutions, an owner and operator of clean power generation assets, and a developer and manufacturer of silicon wafers. The Company operates in three segments: Solar Energy, TerraForm Power and Semiconductor Materials through SunEdison Semiconductor Ltd. (SSL). The Company’s Solar Energy segment provides solar energy services that integrate the design, installation, financing, monitoring, operations and maintenance portions of the downstream solar market for the Company’s customers. The Company’s TerraForm Power segment owns and operates clean power generation assets, both developed by the Solar Energy segment and acquired through third party acquisitions that sell electricity through long-term power purchase agreements to utility, commercial, and residential customers.
Yingli Green Energy Holding Co. Ltd. (YGE) – Yingli Green Energy Holding Company Limited, together with its subsidiaries, designs, develops, manufacture, markets, sells, and installs photovoltaic products in the People’s Republic of China. It offers PV cells, PV modules, and integrated PV systems; and polysilicon ingots and blocks, and polysilicon wafers, as well as develops and operates solar projects. The company primarily sells its PV modules to distributors, wholesalers, power plant developers and operators, and PV system integrators under the Yingli and Yingli Solar brand names. It also operates in the United States, Germany, Greece, Spain, Italy, France, India, Japan, the Netherlands, the United Kingdom, Israel, South Korea, and Belgium.
Also watch – Solar3D, Inc. (SLTD), Solar Power, Inc. (SOPW), and the Top Penny Stocks for 2016