11 Best Solar Energy Stocks to Buy According to Hedge Funds

4. Sunrun Inc. (NASDAQ:RUN)

No. of Hedge Fund Holders: 38

Sunrun Inc. (NASDAQ:RUN) is America’s leading provider of clean energy as a subscription service, offering residential solar and energy storage with no upfront costs.

Sunrun Inc. (NASDAQ:RUN) had a mixed Q4 2024 as its revenue of $518.5 million missed market expectations by $22.56 million. However, the company’s adjusted EPS of $1.41 topped estimates by a significant $1.6. Moreover, Sunrun hit all-time highs for storage attachment rates and capacity installed, and its installed solar energy capacity stood at  242.4 MW in Q4, a 7% increase compared to the fourth quarter of 2023. Sunrun also generated $34 million in cash during the quarter (its third consecutive quarter of positive cash generation) and paid down $132 million of recourse debt with excess cash.

Sunrun Inc. (NASDAQ:RUN) expanded its customer base by 12% in Q4 and also recently announced that it is the first and only storage-plus-solar company to surpass 1 million customers, firmly establishing its position as the largest developer of residential clean energy systems in the US. The company has expanded its share of residential storage installations to over 50% in the US, while residential solar installations nationwide picked up significantly in the last few quarters, from 13% in Q1 2024 to 19% in Q4.