10 Best Solar Energy Stocks To Buy Now

2. NextEra Energy Inc. (NYSE:NEE)

Number of Hedge Fund Investors: 69

NextEra Energy Inc. (NYSE:NEE) is a global leader in renewable energy, specializing in wind and solar power generation. The company operates through its subsidiaries, including Florida Power & Light and NextEra Energy Resources. NextEra Energy Inc. (NYSE:NEE) is recognized for its massive investments in clean energy infrastructure and commitment to a sustainable future.

NextEra Energy Inc. (NYSE:NEE) is expanding its renewable energy portfolio by partnering with Phillips 66 to power its refinery in Rodeo, California with a new solar facility. This 30.2-megawatt solar plant, set to begin operations in January 2025, will be built on 88 acres of land adjacent to Phillips 66’s facility in the San Francisco Bay Area. The facility, consisting of more than 70,000 solar modules, is expected to generate around 60,000 megawatt hours of electricity annually. By reducing the refinery’s grid power demand by half and lowering carbon dioxide emissions by approximately 33,000 metric tons per year, the solar plant will play a crucial role in Phillips 66’s transition to more sustainable and renewable energy sources.

NextEra Energy Inc.’s (NYSE:NEE) expertise in developing and operating large-scale solar projects positions it as a leader in the industry. The company is investing heavily in the development of new solar projects, with a focus on low-cost and battery storage. NextEra Energy Inc. (NYSE:NEE) has also announced incremental framework agreements with two Fortune 50 customers for the potential development of renewables and storage projects, totaling up to 10.5 gigawatts till 2030.