Hottest Solar Stocks: SunPower (SPWR)
As far as solar stocks go, having the backing of a major integrated energy firm — namely France’s Total (TOT) — is nothing to sneeze at. For SunPower (SPWR), that partnership has yielded some pretty big fruit, namely, improved earnings and sales.
While the solar stock’s residential leasing programs could hurt shares of SPWR stock, the company’s efforts to supply its ultra-efficient panels to grid-scale installations is where the action and potential is. Overall, SunPower has bested other solar stocks and has delivered over 120 large-scale solar systems over the past decade.
Those efforts at SPWR aren’t stopping either.
SPWR recently entered into an agreement with Shimizu to supply 69 MW worth of its solar panels for a solar power plant in Japan. Additionally, SPWR began initial shipments for 65 MW of projects in France as well as 70 MW merchant power plant in Chile. Meanwhile, Total and SPWR have been selected by a South African utility to help construct a $200 million, 86 MW facility in Prieska.
Like many other solar stocks, SPWR stock has racked up a triple-digit performance — over 450% so far this year — based on higher earnings and profits.
But still, the company’s ultra-efficient panels and focus on grid-projects could make it one of the best solar stocks to buy.
As of this writing, Aaron Levitt did not hold a position in any of the aforementioned securities.