US Solar Energy Sector Outlook
Researchers anticipate the US solar energy market to grow at a CAGR of 17.32%, from 96.19 GW (gigawatts) in 2020 to 270 GW in 2027. The COVID-19 pandemic did not substantially influence the nation’s solar energy sector, in contrast to many other businesses. Moreover, the country witnessed significant new installations of 19.22 GW during the period. Due to the rising solar energy consumption and its equipment installation, the United States is likely to experience tremendous growth in solar energy.
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In Q2 of 2022, the US added 4.6GW of solar photovoltaic (PV) capacity to reach a total of 130.9GW of installed capacity. Currently, this is enough to power 23 million homes in America.
The solar PV segment may dominate the US markets, with residential and utility spaces being the major contributors. The nation’s solar energy markets are expanding quickly with the solar electricity pricing now being almost at par with the traditional energy sources in certain places across the country.
Furthermore, declining solar panel costs and favourable government policies may help in driving the nation’s market for renewable energy. For the United States, solar energy hasn’t yet realized its full potential as a sustainable energy source. Thus the sector outlook and growth of popular solar energy stocks may be promising over the long term.
5 Most Popular Solar Energy Stocks in the USA
The following stocks are among the most popular solar energy stocks in the USA, sorted based on their market capitalization.
- Enphase Energy Inc.
- GlobalFoundaries Inc.
- SolarEdge Technologies Inc.
- Skyworks Solutions Inc.
- First Solar Inc.
1. Enphase Energy Inc.
Enphase Energy was founded in the year 2006 and has its headquarters in Fremont, California. It is a global energy tech company and a leading supplier of microinverter-based solar-plus-storage systems.
The business offers clever, simple-to-use technologies that link solar energy production, storage, and energy management on a single platform. The company’s semiconductor-based microinverter system converts energy at the individual solar modules level. Also, it adopts a high-tech system-based approach to the generation, storage, control, and management of solar energy.
Furthermore, Enphase aims to take solar energy to a level where it can meet the entire globe’s demand. Innovation, quality and responsibility are the three driving pillars at Enphase.
The company is currently led by Badri Kothandaraman, who is the President and CEO. It trades on Nasdaq with the ticker ‘ENPH’.
2. GlobalFoundaries Inc.
GlobalFoundaries Inc. was founded in 2009 and has its headquarters in Santa Clara, California. It is one of the top producers of semiconductors worldwide. The company offers customers, feature-rich solutions that let them create ground-breaking products for pervasive chips in fast-growing markets. GF offers a wide range of feature-rich process technology solutions with a distinctive combination of design, development, and fabrication services. With at-scale manufacturing facilities in the United States, Europe, and Asia, GF is a dependable technology source for its clients all over the world.
As a dependable partner who offers a distinctive combination of design, development, and fabrication services, GF collaborates with customers to commercialize a wide range of ground-breaking products. GF goes by the values – Create, Embrace, Partner and Deliver.
The company is currently led by Dr Thomas Caulfield, who is the President and CEO. It trades on Nasdaq with the ticker ‘GFS’.
3. SolarEdge Technologies Inc.
SolarEdge was established in 2006 and has its headquarters in Herzliya, Israel. The DC-optimized inverter solution by SolarEdge is revolutionizing power generation and control in photovoltaic (PV) systems. The SolarEdge intelligent inverter solution maximizes power generation while reducing the cost of energy provided by the PV system.
Furthermore, through its diverse product portfolio, Solar Edge continues to advance smart energy by addressing a wide range of energy market segments. These segments include residential, commercial, and large-scale PV, home energy management, EV charging energy storage and backup solutions, grid services, solutions for uninterrupted power supply (UPS), virtual power plants, and batteries.
The company is currently led by Zvi Lando, who is the CEO. It trades on Nasdaq with the ticker ‘SEDG’.
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4. Skyworks Solutions Inc.
Skyworks Solutions was incorporated in 2002 and has its headquarters in Irvine, California. It is a wireless semiconductor company that develops and produces comprehensive radio frequency and semiconductor system solutions for mobile communications applications. Furthermore, the company serves clients in the wireless handset and infrastructure industries. It offers solutions such as radio frequency subsystems, front-end modules, and system solutions.
Skyworks is a leading player in the wireless networking revolution. The company’s highly innovative analog semiconductors are connecting people, places and things across all industries – smartphone, tablet, military, aerospace, automotive, connected home, cellular infrastructure, broadband, medical, industrial, and wearable markets.
The company is currently led by Liam K. Griffin, who is the Chairman, CEO and President. It trades on Nasdaq with the ticker ‘SWKS’.
5. First Solar Inc.
First Solar was founded in the year 1999 and has its headquarters in Tempe, Arizona. It is the leading American solar technology business and a global supplier of ethically made, eco-effective solar modules that aim to combat global warming. The company stands out among the top ten solar manufacturers in the world because it is the only one with US headquarters that doesn’t produce in China.
The next generation of solar technologies, represented as First Solar’s superior thin film photovoltaic (PV) modules, offer a competitive, high-performance, lower-carbon substitute for traditional crystalline silicon (c-Si) PV panels.
The company is currently led by Mark R Widmar, who is the CEO. It trades on Nasdaq with the ticker ‘FSLR’.