Stocks are looking to add to 2020 gains this morning as we kick off the new year. The Dow finished 2020 higher by more than 7%, while the S&P surged over 16%. The Nasdaq was the big index winner in 2020, with a gain of more than 43%.
What’s even more impressive than the Nasdaq’s 2020 gains is the growth seen in solar stocks over the same time period. Solar stocks, represented by the Invesco Solar ETF (TAN), have dramatically outperformed the broader market over the past year. TAN has provided a total return of 226% over the last 12 months, well above the Nasdaq Composite’s total return of 43%.
The sector is on track to add 10 gigawatts (GW) of new capacity per year through 2022, with that growing to an average annual pace of 18 to 20 GW from 2023 to 2030 thanks to rapidly falling costs for solar panels and battery storage. Solar stocks will likely thrive over the next decade.
Given the upside potential, investors should consider an investment in solar. Today our research team has a stock recommendation that will likely be shining bright in the years to come.
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SolarEdge Technologies (SEDG) manufactures power optimizers and inverters used to convert the sun’s energy into usable electricity. These components have improved the way that solar panels convert DC power produced by the sun into the AC electricity used by the electrical grid. A system that utilizes SolarEdge’s power optimizers will cost less than one that, for example, uses a microconverter built by a company like Enphase Energy (ENPH), with minimal efficiency loss.
SolarEdge’s focus on manufacturing low-cost power optimizers has enabled it to win market share from its competitors as solar project developers focused on cost. The company has also invested money to acquire and develop new products in the energy storage and energy management spaces, as well as smart modules to help grow its average revenue per installation.
The company complements its leading market position with a strong, cash-rich balance sheet. That provides it with financial flexibility to invest in expanding its manufacturing capacity and technological lead over its competitors. Those factors set SolarEdge Technologies up for success in implementing its plan to expand its reach in the fast-growing solar sector.
Where to invest $1,000 right now...
Before you consider buying SolarEdge Technologies, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not SolarEdge Technologies.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.