Analysts are optimistic about the U.S. economy, expecting a 2% GDP expansion this year due to strong growth in late 2023 and a resilient labor market in January. The positive outlook, driven by robust consumer spending and minimal signs of a private sector slowdown, suggests a delay in Federal Reserve interest rate cuts until later in the year. The markets look like it will continue to grow over the future years, and green companies are looking to benefit greatly, buy these top eco-friendly stocks for profits now.

First Solar (FSLR)

First Solar (NASDAQ:FSLR) is a global leader in solar technology.

According to projections from 29 analysts on Yahoo! Finance, FSLR is expected to have a one-year price range between $157.00 and $359.008. The financial performance of FSLR remains impressive. In Q3 2023, the company reported a revenue of $801 million, reflecting a notable 27.3% 1-year CAGR. The net profit margin, standing at 33.5%, witnessed an outstanding YOY growth of over 500%, underscoring the company’s strong profitability

FSLR has strategically positioned itself for future growth through partnerships and significant investments in manufacturing. Collaborating with Swift Current Energy, the company is set to provide 500 megawatts of its state-of-the-art Series 7 solar panel modules, extending an existing contract until 2028. Additionally, First Solar has committed a substantial $1.1 billion investment towards establishing its fifth solar panel factory in Louisiana, slated to commence operations in 2025. This new facility is expected to boost the company’s production capacity, particularly for its latest model of solar panels.

Investors eyeing eco-friendly stocks for profits in 2024 should find First Solar an attractive choice due to its robust financial performance.

Microsoft (MSFT)

Microsoft (NASDAQ:MSFT) is a software and hardware developer. What some investors might not know, is that Microsoft also produces environmentally friendly products. The company partners with organizations to provide grants and funding that help drive carbon removal and reduction, and develop new climate technologies. 

Microsoft showed its financial growth during Q4 2023. The company reported $62.02 billion in revenue- a 17.58% YOY increase. Net income and diluted EPS, $21.87 billion and $2.93 billion, both increasing over 33% YOY. Q4 2023 was successful for Microsoft overall, beating the expectations on EPS and revenue, by 1.45 % and 5.83% respectively. 

Microsoft aims to be not just carbon-neutral, but carbon-negative, by 2030. By 2040, it will implement a zero-waste footprint, and by 2050, the technology stalwart will remove its historical emissions. Additionally, analysts still anticipate more share growth, rating MSFT a strong buy according to Yahoo! Finance.

NextEra Energy (NEE)

NextEra Energy (NYSE:NEE) is an American energy company with 58 GW of generating capacity and revenues of over $18 billion. NEE has amassed a valuation of $55.53 with a strong 5-year valuation increase of 17.70%. 

NEE is fully established in the market but shows signs of future growth. Financially, NEE improved on every metric during Q3 2023. NEE reported $6.88B in revenue, marking a YOY increase of 11.58%. EBITDA also received a massive surge of $4.01 billion, increasing over 33% YOY. Overall, Q3 2023 proved to be successful for NextEra Energy, with the company outperforming the previous quarter’s free cash flow by 57%

NEE is set up for success through recent announcements of its best-ever year of new renewables and storage origination, adding approximately 9,000 megawatts to its backlog.  As NextEra Energy continues to emphasize development, expect its valuation to climb as more customers gravitate towards the company’s services.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.