8 Best Climate Change Stocks To Invest In Right Now

4. Canadian Solar Inc. (NASDAQ:CSIQ)  

Upside Potential: 75.34%  

Canadian Solar Inc. (NASDAQ:CSIQ) is one of the world’s largest solar technology and renewable energy companies, offering high-performance solar modules and battery storage solutions. The company has subsidiaries in 23 countries and regions with over 26 manufacturing facilities in Asia & Americas.

On October 31, Recurrent Energy, a subsidiary of Canadian Solar Inc. (NASDAQ:CSIQ), announced that its 134 MW Liberty Solar project in Texas reached commercial operation. The project will produce enough energy to power approximately 15,000 homes annually. The Liberty Solar project has secured four major corporate customers, including Autodesk, Inc., Biogen Inc., EMD Electronics, and Wayfair Inc., who will purchase renewable energy from the project. Recurrent Energy will remain the long-term owner and operator of the project.

Recurrent Energy also announced that it has signed two new  20-year tolling agreements with Arizona Public Service Company (APS). These agreements cover the Desert Bloom Storage and Papago Solar projects, both located in Maricopa County, Arizona. The Desert Bloom Storage project is a 600 MWh standalone storage facility, while the Papago Solar project is a 150 MWac solar facility.

Both projects are scheduled to start construction in 2025 and reach operation in 2026. This announcement follows an agreement last year, with APS for the 1,200 MWh Papago Storage project, which is currently under construction and expected to commence operations in 2025. Once operational, Papago Storage will be the largest standalone energy storage project in Arizona.

The three tolling agreements with APS will total 1,800 MWh of energy storage and 150 MWac of solar capacity. This is a significant amount of energy, enough to dispatch the equivalent of 72,000 homes for four hours and enough solar to power the equivalent of approximately 24,000 homes per year.