1. Invesco Solar ETF (NYSE:TAN)
5-Year Performance as of July 28: 206.32%
Invesco Solar ETF (NYSE:TAN) tracks the MAC Global Solar Energy Index, which consists of companies operating in the solar energy industry. Established on April 15, 2008, Invesco Solar ETF (NYSE:TAN) holds 49 stocks in its portfolio. It comes with an expense ratio of 0.69% and, as of July 28, the 30-day SEC yield is 0.10%. Invesco Solar ETF (NYSE:TAN) is one of the best energy ETFs to monitor.
A prominent holding of Invesco Solar ETF (NYSE:TAN) is Enphase Energy, Inc. (NASDAQ:ENPH), which is involved in the design, development, manufacturing, and sale of home energy solutions for the solar photovoltaic industry. On July 27, Enphase Energy, Inc. (NASDAQ:ENPH) reported a Q2 non-GAAP EPS of $1.47, beating market estimates by $0.20. The revenue increased 34.1% year-over-year to $711.12 million. However, it fell short of Wall Street forecasts by $14.86 million.
Here is what Aristotle Atlantic Large Cap Growth Strategy had to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its investor letter for the first quarter of 2023:
“Enphase Energy, Inc. (NASDAQ:ENPH) designs, develops, manufactures and sells home energy solutions in the U.S. and internationally for the solar industry. The company is the world’s leading manufacturer of microinverters that convert solar-generated D.C. energy to A.C. energy usable in homes and buildings. Enphase introduced the world’s first microinverter system in 2008 and has expanded its offerings to include battery storage systems and proprietary technologies that provide energy monitoring and control services for solar energy systems. It sells its products and solutions directly to solar system distributors, large installers and strategic partners.
We see Enphase having a substantial market share that is gained through a premium product offering, superior customer service and the development of a large and diverse network of solar installers and distributors. The company’s products and services address a growing residential solar market. Coupling battery backup systems with existing and newly installed residential solar systems could accelerate the company’s revenue and earnings growth over the next several years, in our view. Additionally, commercial and international expansion offer additional revenue and earnings upside. Enphase also plans to expand manufacturing capacity in the U.S. during 2023 to benefit from tax incentives related to domestic production included in the Inflation Reduction Act (IRA).”
Follow Enphase Energy Inc. (NASDAQ:ENPH)
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