The world is about to drop a record $3.3 trillion into energy in 2025 – and solar is stealing the spotlight. According to the latest IEA report, solar PV is attracting more capital than any other energy technology, as clean energy investment surges to $2.2 trillion, double that of fossil fuels.
At the heart of this surge is China, now the world's largest energy investor, and the U.S., which is rapidly becoming a clean energy superpower. Thanks to policy support and corporate demand—particularly from data centers and AI-hungry tech giants – solar manufacturing in the U.S. nearly tripled in 2024 to 42 GW. Combine that with grid bottlenecks and transformer shortages, and it’s clear that solar solutions, especially modular and scalable ones, are becoming vital.
So which stocks are best positioned to ride this trillion-dollar tailwind?
Solar Stock Riding The Trillion Dollar Tailwind
First Solar Inc (NASDAQ:FSLR) is leading the charge with nearly half the market cap weight among top solar names. With the analyst consensus rating it a Buy rating and a price target of $228.77 (vs. current $163.84), it’s the institutional favorite to benefit from U.S.-led domestic solar expansion.
Nextracker Inc (NASDAQ:NXT) has been quietly scorching the charts with a 46% YTD gain, thanks to its dominant solar tracking systems and strong demand from utility-scale projects. With a consensus Buy rating and resilient momentum, it’s the growth story in the group. The company makes up about 23% of the solar market.
Read Also: Nextracker Bolsters India Presence With 10 GW Milestone, New Hyderabad Hub
Array Technologies Inc (NASDAQ:ARRY) is also heating up, with a 9.79% YTD return. This Buy-rated solar stock is also likely riding the same structural wave.
At the speculative end, VivoPower International PLC (NASDAQ:VVPR) has gone parabolic with a 319.15% YTD rally, albeit off a tiny market cap base ($62.29 million) clearly a high-risk, high-reward bet for the bold.
Meanwhile, legacy solar names like Enphase Energy Inc (NASDAQ:ENPH) and SolarEdge Technologies Inc (NASDAQ:SEDG) remain under pressure. Enphase, commanding over 15% market share, is down nearly 42.12% YTD as investors get wary of margin compression and the European slowdown.
SolarEdge has returned 19.86% to investors so far this year, and has a 2.82% hold on the market, signaling room to grow.
With 205 GW of advanced-stage solar projects waiting in the queue due to grid delays, the market is ripe for companies that can accelerate deployment and offer grid-friendly solutions.
As billions flood into solar, the sun might finally shine on solar stocks again – investors just need to pick the right panel.
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