10 Best Solar Energy Stocks to Invest In

5. Sunnova Energy International, Inc. (NYSE:NOVA)

Hedge Funds Holding Stakes: 20

Upside potential as of August 2, 2024: 35.42%

Sunnova Energy International, Inc. (NYSE:NOVA) is one of the smallest companies in the solar energy sector, serving a customer base of about 386,000. Nevertheless, the company has carved a niche in providing and installing solar arrays and other energy solutions for homeowners and small businesses.

Analysts expect Sunnova Energy International, Inc. (NYSE:NOVA) to generate over $1 billion in sales in 2024, up 36% year over year on improving consumer spending due to low interest rates. This affirms why it is one of the ten best solar energy stocks to invest in. Sunnova Energy International, Inc. (NYSE:NOVA) can quickly generate billions of sales with its three-year average sales growth of 60.9%.

A total of 20 hedge funds held stakes in the company as of Q1 2024, down from 29, according to Insider Monkey’s database. Analysts on Wall Street currently rate Sunnova Energy International, Inc. (NYSE:NOVA) as ‘Buy’ with an average price target of $11.24, which implies an upside of 35.42% from current levels.