8 Best Wind Power and Solar Stocks to Buy

5. Sunrun Inc. (NASDAQ:RUN)

Number of Hedge Fund Investors: 35

Stock Upside Potential: 14.78%

Sunrun Inc. (NASDAQ:RUN) is one of the best wind power and solar stocks to buy as it is focused on solar energy systems. The company designs, manufactures, and sells solar energy systems like panels and battery storage solutions. While the company’s primary customers are residential homeowners, it also deals with commercial developers.

Sunrun Inc. (NASDAQ:RUN)’s competitive edge stems from its focus on becoming a home electrification partner rather than offering home solar. Consequently, it has set out to offer home batteries, vehicle charging, and grid services as it diversifies its revenue streams.

The company has already inked a strategic partnership with Ford to act as the primary installer of its Intelligence backup power and installation of Ford Charge Station Pro and Home Integration System. Sunrun Inc. (NASDAQ:RUN) has also signed a deal to help Puerto Rico rebuild its energy system through a 17-megawatt virtual power system.

In Q2 2024, Sunrun Inc. (NASDAQ:RUN) registered 26,687 customer additions, including 24,984 subscriber additions. Annual Recurring Revenue from Subscribers was approximately $1.5 billion as of June 30, 2024

“In the second quarter, we again set new records for both storage installation and attachment rates, further differentiating Sunrun in the industry, beating the high-end of our storage installation guidance and delivering solid quarter-over-quarter growth for solar installation, Cash Generation, and Net Subscriber Value. Our primary focus is on expanding our differentiation, launching additional products and services to expand customer lifetime values, and remaining a disciplined, margin-focused leader in the sector to drive meaningful Cash Generation, ” said Mary Powell, Sun Run’s Chief Executive Officer.

Analysts on Wall Street have a Buy rating on Sunrun Inc. (NASDAQ:RUN) with an average price target of $20.50, potentially implying a 14.78% upside. Additionally, 35 hedge funds held stakes in the company as of the end of the second, according to the Insider Monkey database. Of those, William B. Gray’s Orbis Investment Management is the company’s top shareholder, with positions worth $164.80 million.