Thursday, March 30, 2023

Which Solar Stock Is a Better Buy? By StockNews


© Reuters. Enphase vs. SolarEdge: Which Solar Stock Is a Better Buy?

Enphase Energy (NASDAQ:) and SolarEdge (SEDG) are both solar companies well poised to benefit from the worldwide transition towards clean energy solutions in the upcoming decade. However, one stock is trading at a significantly lower valuation, providing it with solid upside potential in the next 12-months.There is no denying that the shift to clean energy solutions will accelerate in the upcoming decade, as the world is transitioning towards renewable energy sources and reducing the carbon footprint. In fact, solar power is already cheaper than coal, gas, and nuclear energy. Further, generating solar power is likely to be the lowest-cost energy solution by 2030.

Several utility companies are shifting towards renewable energy solutions and are seeking out proposals to build infrastructure and invest heavily in this sector to benefit from economies of scale. A report from Fortune Business Insights has forecast the global solar power market size to rise from $163.7 billion in 2019 to $195 billion in 2027, indicating an annual growth rate of 5.9%.

Keeping these factors in mind, today I’m going to analyze two solar stocks, Enphase Energy (ENPH) and SolarEdge (SEDG), to determine which is the better investment right now.

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