10 Best Alternative Fuel Stocks To Buy According to Hedge Funds

4. First Solar, Inc. (NASDAQ:FSLR)

Number of Hedge Fund Holders: 59

First Solar, Inc. (NASDAQ:FSLR) is a global leader and innovator in the development and production of thin-film photovoltaic (PV) solar panels. The company specializes in utility-scale solar power plants and delivers energy solutions tailored to utilities and large corporations. Headquartered in Tempe, Arizona, First Solar, Inc. (NASDAQ:FSLR) manufactures internationally, with facilities located in the United States, Malaysia, India, and Vietnam.

First Solar, Inc. (NASDAQ:FSLR) is positioning itself for sustained growth and leadership in the solar industry through a multifaceted strategy. The company is launching the CuRe production at its lead line in Ohio, with plans to produce and sell approximately 0.4 gigawatts of CuRe product in Q1 of 2025. Upon successful field performance validation, First Solar, Inc. (NASDAQ:FSLR) intends to permanently convert the Ohio lead line to CuRe by Q4 2025 and replicate this technology across its global manufacturing facilities. This initiative aims to enhance the efficiency and reduce the environmental impact of its solar modules, aligning with the company’s commitment to ultra-low carbon solar technology.

In addition to technological advancements, First Solar, Inc. (NASDAQ:FSLR) is significantly expanding its manufacturing capacity. The company has inaugurated a $1.1 billion facility in Alabama, which, when fully scaled, will add 3.5 gigawatts of vertically integrated nameplate solar manufacturing capacity. The company is also on track to begin operations at its Louisiana facility in the second half of 2025, which will further boost its U.S. manufacturing capacity. By 2026, First Solar, Inc. (NASDAQ:FSLR) aims to achieve over 14 gigawatts of annual U.S. nameplate capacity and over 25 gigawatts of global nameplate capacity.