The Only 2 Solar Stocks Outperforming The S&P 500 In 2021

The solar industry is making rapid progress with the rise in installation of residential solar panels worldwide as countries race to achieve their sustainability targets. However, the industry is currently hamstrung by supply chain bottlenecks and a series of trade risks. These constraints have led to a significant rise in prices across every segment, which could mar the industry’s growth.

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Despite the industry’s bleak growth prospects, investors’ optimism about green energy initiatives worldwide has led solar stocks iSun, Inc. (ISUN - Get Rating) and Sunworks, Inc. (SUNW - Get Rating) to outperform the broader S&P 500 index year-to-date. 

ISUN and SUNW have gained 44.4% and 23.6% in price, respectively, versus the S&P 500’s 16% returns year-to-date. These are the only solar stocks that outperformed the S&P 500 and thus could be worth adding to one ‘s watchlist now.

iSun, Inc. (ISUN - Get Rating)

ISUN in South Burlington, Vt., is a solar engineering, construction, and procurement contractor for commercial and industrial customers in the Northeastern United States. It also provides electrical contracting services and data and communication services.

On September 8, ISUN signed a definitive agreement pursuant to which a subsidiary of ISUN will acquire SunCommon, a market-leading provider of residential, community, and commercial solar. ISUN expects the differing revenue cycles of the two businesses will improve its cash flow. The acquisition gives ISUN access to SunCommon’s expertise and should aid its strategic expansion in the residential sector.

On August 24, ISUN announced that it had been awarded a portfolio of five projects in the state of New Hampshire. The company estimates that the project portfolio will have a combined contract value exceeding $7.2 million. This reflects the company’s approach to value creation. Moreover, these projects are expected to support ISUN’s target of doubling its revenue in 2021.

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