- Canadian Solar Q1 Loss Narrower Than Estimates, Revenues Fall Y/Y
May 14, 2026
Canadian Solar, Inc. CSIQ reported first-quarter 2026 adjusted loss of 71 cents per share, narrower than the Zacks Consensus Estimate of a loss of $1.06. The company posted a loss of 69 cents per share in the year-ago quarter.
CSIQ’s Revenues
Revenues amounted to $1.08 billion, which surpassed the Zacks Consensus Estimate of $0.95 billion by 13.8%. The top line declined 9.9% from the year-ago quarter’s figure of $1.2 billion.
This year-over-year decrease was due to lower sales of solar modules.
Canadian Solar Inc. Price, Consensus and EPS Surprise
Canadian Solar Inc. price-consensus-eps-surprise-chart | Canadian Solar Inc. Quote
Operational Update of CSIQ
Solar module shipments in the quarter totaled 2.5 gigawatts (GW), down 64% year over year.
Total battery energy storage shipments totaled 2.1 GWh, up 142% year over year.
Canadian Solar’s gross margin was 25.1% compared with 11.7% in the first quarter of 2025. The increase in gross margin was primarily due to the recognition of IEEPA tariff refund benefits.
Total operating expenses were $198 million, up from $195.3 million in the first quarter of 2025.
The company commenced trial production at the flagship HJT solar cell factory in Jeffersonville, IN, marking a key milestone in U.S. domestic manufacturing, with commercial operation targeted to begin in July 2026.
Canadian Solar’s Financial Update
As of March 31, 2026, Canadian Solar’s cash and cash equivalents totaled $1.44 billion, compared with $1.37 billion as of Dec. 31, 2025.
Long-term borrowings as of March 31, 2026, were $3.54 billion, down from $3.62 billion as of Dec. 31, 2025.
CSIQ’s Guidance
For the second quarter of 2026, Canadian Solar anticipates total revenues to be in the band of $1-$1.2 billion. The Zacks Consensus Estimate for sales is pegged at $1.76 billion, higher than the company’s guided range.
Gross margin is expected to be 13-15%. Total module shipments recognized as revenues are expected to be in the range of 3.1-3.3 GW. Total battery energy storage shipments in the second quarter are expected to be in the range of 2.8-3.2 GWh, including approximately 400 MWh to internal and external projects under execution.
The company reiterated its guidance of 6.5-7 GW of solar modules and 4.5-5.5 GWh of battery energy storage solutions for the U.S. market in 2026.
CSIQ’s Zacks Rank
Canadian Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Solar Releases
First Solar, Inc. FSLR reported first-quarter 2026 earnings of $3.22 per share, which beat the Zacks Consensus Estimate of $2.87 by 12.1%. The bottom line increased 65.1% from the prior-year quarter’s figure of $1.95.
First Solar’s first-quarter net sales were $1.04 billion, which missed the Zacks Consensus Estimate by 0.1%. However, the top line rose 23.6% from the year-ago quarter’s $0.84 billion.
Enphase Energy, Inc. ENPH reported first-quarter 2026 adjusted earnings of 47 cents per share, which decreased 30.9% from 68 cents reported in the prior-year quarter. However, the bottom line topped the Zacks Consensus Estimate of 43 cents by 8.2%.
Enphase Energy’s first-quarter revenues of $282.9 million missed the Zacks Consensus Estimate of $284 million by 0.2%. The top line decreased 28.6% from the prior-year quarter’s reported figure of $356.1 million.
SolarEdge Technologies, Inc. SEDG reported a first-quarter 2026 adjusted loss of 43 cents per share, wider than the Zacks Consensus Estimate of a loss of 23 cents. The bottom line improved from the prior-year quarter’s loss of $1.14 per share.
SEDG’s revenues of $310.5 million surpassed the Zacks Consensus Estimate of $303 million by 2.3%. The top line also increased 41.5% from the year-ago quarter’s $219.5 million.
Story Continues
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- Enphase Energy and SolarEdge Jump 11%, Canadian Solar Sinks 10% in Lopsided Solar Stock Trade
May 14, 2026 · 247wallst.com
Solar stocks are splitting on Thursday. Enphase Energy (NASDAQ:ENPH | ENPH Price Prediction) is up 11% to $47.18 and SolarEdge Technologies (NASDAQ:SEDG) is up 11% to $47.90, while Canadian Solar (NASDAQ:CSIQ) is down 10% to $17.97.
- China’s $3 Billion US Clean Tech Exit Is an Investment Warning
May 14, 2026
(Bloomberg) -- Renewable energy manufacturer Jinko Solar Co.’s recent decision to sell control of its Florida facility extends a multi-billion dollar retreat from the US by China’s clean technology firms, as they contend with an increasingly hostile policy environment and the potential loss of Biden-era incentives.
Most Read from Bloomberg
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China-based companies in the sector scrapped about $2.8 billion in planned US manufacturing projects in 2025, according to research by Rhodium Group. As of the end of March, more than half of proposed Chinese clean-tech investments in the US announced since 2022 had been canceled, paused or delayed, according to the group's calculations.
That's part of a broader downturn that saw a 17% decline last year in all clean technology investment in the US, Rhodium said in a report published Wednesday.
Producers of solar equipment, batteries and electric vehicle technology have experienced a sharp reversal since Biden-era tax credits lured Chinese companies to announce $5.6 billion of investments in 2023 alone. Since then, President Donald Trump’s administration has rolled back incentives and, most crucially, last year’s tax bill introduced new hurdles for manufacturers with ties to so-called foreign entities of concern.
“Jinko’s decision underscores the enormous challenges facing Chinese clean-tech firms operating in the US,” said Li Shuo, director of the China Climate Hub at the Asia Society Policy Institute. The company’s move should be seen as “a chilling message to anyone that wishes to come and build factories in the US,” he said.
Shanghai-based Jinko on Friday agreed to sell about a 75% stake in its solar panel facility in Florida to FH Capital, a private equity fund. The main purpose of selling the stake is “to optimize its overseas asset allocation, ensure its long-term strategic layout in the US, enhance flexibility and compliance, and facilitate its long-term development," a Jinko spokesperson said in a written response to Bloomberg questions.
The decision was prompted by a need to comply with “US domestic manufacturing regulations” and to “minimize operational risks,” Jinko said in a corporate filing, without citing any specific regulations.
Jinko’s sell-down follows similar moves by China-based competitors to scale back exposure to the US or to exit entirely. Trina Solar Co. sold a majority stake in its Texas assembly facility in 2024, and last year Corning Inc. acquired a JA Solar Technology Co. plant in Arizona.
Story Continues
Shanghai-listed Ningbo Boway Alloy Material Co. said Wednesday it will sell solar manufacturing assets in the US to India’s INOXGFL Group due to the tightening of foreign entity requirements under Trump’s tax bill.
Policy changes under Trump’s One Big Beautiful Bill Act mean it has become harder, if not completely impossible, for factories controlled by Chinese companies, or heavily reliant on China-dominated supply chains, to be eligible for lucrative manufacturing tax credits.
Losing access to those credits puts Chinese-owned factories at a “huge disadvantage” compared to domestic rivals, said Rob Barnett, a senior analyst at Bloomberg Intelligence. For example, Arizona-based First Solar Inc., the largest US solar producer, told investors in February that it expects to receive more than $2 billion in credits this year.
While Treasury Department guidance on specific ownership thresholds for tax credit eligibility isn’t expected to be issued until later this year, analysts expect those conditions to be difficult for China-linked firms to meet.
“The policy environment is getting more restrictive,” said Margaret Jackson, a senior associate at the Center for Strategic and International Studies and previously a senior counselor for policy at US Department of Commerce during Biden’s tenure.
Those tougher rules mean Trump’s meeting this week with President Xi Jinping in Beijing is unlikely to prompt new investments from China’s manufacturers in green technology industries. That’s even though Trump himself has at times expressed openness to the idea.
“I’m not sure that below him there’s a lot of appetite to create space for more Chinese investment,” Jackson said.
--With assistance from Ocean Hou and Mark Chediak.
(Adds details on company selling US assets in 9th paragraph)
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- Buy the Surge in Nextracker (NXT) Stock After Stronger-than-Expected Q4 Results?
May 13, 2026
Nextracker NXT) delivered another impressive quarter, beating Wall Street's expectations on both earnings and revenue while reinforcing its position as one of the strongest growth stories in the renewable energy sector.
The solar tracking technology leader posted stronger-than-expected results for its fiscal fourth quarter yesterday evening, with NXT spiking 8% in Wednesday’s trading session as investors cheered robust demand, expanding profitability, and an upbeat long-term outlook.
The big question now is whether investors should chase the rally — or wait for a pullback.Zacks Investment Research
Image Source: Zacks Investment Research
Nextracker’s Stronger-than-Expected Q4 Results
Nextracker reported Q4 2026 revenue of $880.52 million, which was down from $924.34 million a year ago but came in 9% ahead of estimates of $807.33 million.
On the bottom line, Q4 EPS of $1.05 beat expectations of $0.89 per share by nearly 18% despite dropping from $1.29 in a tough to compete against prior year quarter.Zacks Investment Research
Image Source: Zacks Investment Research
The results capped off another year of strong execution, with Nextracker’s full-year FY26 revenue climbing 20% to $3.56 billion as demand for utility-scale solar projects remained healthy despite a challenging macroeconomic backdrop.
More importantly, Nextracker demonstrated increased profitability with FY26 EPS spiking 27% to $4.50 from $3.54 a share in FY25.
Other highlights included Q4 adjusted EBITDA reaching approximately $202 million on a margin that remained above 20% while free cash flow stayed robust, and the company maintained a debt-free balance sheet with significant cash reserves.Zacks Investment Research
Image Source: Zacks Investment Research
Nextracker’s Guidance Suggests More Growth Ahead
Sparking the rally was that management also issued FY27 guidance that projects continued growth. Nextracker expects FY27 EPS in the range of $4.21-$4.59 alongside revenue guidance of $3.8 billion-$4.1 billion.
The guidance came in the range of Wall Street’s EPS forecast of $4.59 or 2% growth on revenue of $3.82 billion or 7% growth.
In addition to this, Nextracker unveiled long-term financial targets, including $4.8 billion-$5.6 billion in revenue by FY30, with approximately one-third of revenue expected to come from sales of non-tracker products and services.
Nextracker’s Appealing Acquisitions & Rebranding
Further fueling investor sentiment is that Nextracker announced its expansion into power electronics and energy infrastructure by acquiring Spain-based Zigor Corp, and its U.S. subsidiary, Apex Power, for approximately $80.5 million.
Story Continues
The acquisition is part of Nextracker’s evolution and rebranding into “Nextpower” and is tied to its expansion into power conversion systems (PCS), battery storage, and data center infrastructure.
This comes as Nextracker has begun to reap the benefits of its $70 million acquisition of Bentek Corporation last year, gaining access to Bentek’s expertise in power distribution systems and electrical Balance of System (eBOS) products for the solar industry.
Monitoring NXT’s P/E Valuation
Following the post-earnings rally, Nextracker’s stock now trades at about 32X forward earnings, a clear premium to the Zacks Solar Industry average of 24X.
Notably, solar panel manufacturing leader First Solar FSLR) trades at just 12X forward earnings, although the two companies operate in different parts of the solar value chain.Zacks Investment Research
Image Source: Zacks Investment Research
Conclusion & Strategic Thoughts
For long-term investors, Nextracker still looks attractive even after the post-earnings surge as the company offers a rare combination of growth and profitability across the renewable energy sector.
That said, investors may want to avoid chasing the stock aggressively after a large one-day rally. Waiting for some consolidation or a broader market pullback could offer a more favorable entry point, with NXT currently landing a Zacks Rank #3 (Hold).
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- China's $3 Billion US Clean Tech Exit Is an Investment Warning
May 13, 2026
(Bloomberg) -- Renewable energy manufacturer Jinko Solar Co.’s recent decision to sell control of its Florida facility extends a multi-billion dollar retreat from the US by China’s clean technology firms, as they contend with an increasingly hostile policy environment and the potential loss of Biden-era incentives.
Most Read from Bloomberg
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China-based companies in the sector scrapped about $2.8 billion in planned US manufacturing projects in 2025, according to research by Rhodium Group. As of the end of March, more than half of proposed Chinese clean-tech investments in the US announced since 2022 had been canceled, paused or delayed, according to the group's calculations.
That's part of a broader downturn that saw a 17% decline last year in all clean technology investment in the US, Rhodium said in a report published Wednesday.
Producers of solar equipment, batteries and electric vehicle technology have experienced a sharp reversal since Biden-era tax credits lured Chinese companies to announce $5.6 billion of investments in 2023 alone. Since then, President Donald Trump’s administration has rolled back incentives and, most crucially, last year’s tax bill introduced new hurdles for manufacturers with ties to so-called foreign entities of concern.
“Jinko’s decision underscores the enormous challenges facing Chinese clean-tech firms operating in the US,” said Li Shuo, director of the China Climate Hub at the Asia Society Policy Institute. The company’s move should be seen as “a chilling message to anyone that wishes to come and build factories in the US,” he said.
Shanghai-based Jinko on Friday agreed to sell about a 75% stake in its solar panel facility in Florida to FH Capital, a private equity fund. The main purpose of selling the stake is “to optimize its overseas asset allocation, ensure its long-term strategic layout in the US, enhance flexibility and compliance, and facilitate its long-term development," a Jinko spokesperson said in a written response to Bloomberg questions.
The decision was prompted by a need to comply with “US domestic manufacturing regulations” and to “minimize operational risks,” Jinko said in a corporate filing, without citing any specific regulations.
Jinko’s sell-down follows similar moves by China-based competitors to scale back exposure to the US or to exit entirely. Trina Solar Co. sold a majority stake in its Texas assembly facility in 2024, and last year Corning Inc. acquired a JA Solar Technology Co. plant in Arizona.
Story Continues
Policy changes under Trump’s One Big Beautiful Bill Act mean it has become harder, if not completely impossible, for factories controlled by Chinese companies, or heavily reliant on China-dominated supply chains, to be eligible for lucrative manufacturing tax credits.
Losing access to those credits puts Chinese-owned factories at a “huge disadvantage” compared to domestic rivals, said Rob Barnett, a senior analyst at Bloomberg Intelligence. For example, Arizona-based First Solar Inc., the largest US solar producer, told investors in February that it expects to receive more than $2 billion in credits this year.
While Treasury Department guidance on specific ownership thresholds for tax credit eligibility isn’t expected to be issued until later this year, analysts expect those conditions to be difficult for China-linked firms to meet.
“The policy environment is getting more restrictive,” said Margaret Jackson, a senior associate at the Center for Strategic and International Studies and previously a senior counselor for policy at US Department of Commerce during Biden’s tenure.
Those tougher rules mean Trump’s meeting this week with President Xi Jinping in Beijing is unlikely to prompt new investments from China’s manufacturers in green technology industries. That’s even though Trump himself has at times expressed openness to the idea.
“I’m not sure that below him there’s a lot of appetite to create space for more Chinese investment,” Jackson said.
--With assistance from Ocean Hou and Mark Chediak.
(Adds chart)
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©2026 Bloomberg L.P.
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- China’s $3 Billion US Clean Tech Exit Is an Investment Warning
May 13, 2026
(Bloomberg) -- Renewable energy manufacturer Jinko Solar Co.’s recent decision to sell control of its Florida facility extends a multi-billion retreat from the US by China’s clean technology firms, as they contend with an increasingly hostile policy environment and the potential loss of Biden-era incentives.
Most Read from Bloomberg
Ambani’s Cola War With Coke, Pepsi Spurs Fridge Bonanza in India Nvidia’s CEO Joins Trump in China With AI in the Spotlight Mamdani Scraps Property Tax Hike, Counts Second-Home Revenue Trump Lands in China for Xi Trade Summit With Iran War in Limbo
China-based companies in the sector scrapped about $2.8 billion in planned US manufacturing projects in 2025, according to research by Rhodium Group. As of the end of March, more than half of proposed Chinese clean-tech investments in the US announced since 2022 had been canceled, paused or delayed, according to the group's calculations.
That's part of a broader downturn that saw a 17% decline last year in all clean technology investment in the US, Rhodium said in a report published Wednesday.
Producers of solar equipment, batteries and electric vehicle technology have experienced a sharp reversal since Biden-era tax credits lured Chinese companies to announce $5.6 billion of investments in 2023 alone. Since then, President Donald Trump’s administration has rolled back incentives and, most crucially, last year’s tax bill introduced new hurdles for manufacturers with ties to so-called foreign entities of concern.
“Jinko’s decision underscores the enormous challenges facing Chinese clean-tech firms operating in the US,” said Li Shuo, director of the China Climate Hub at the Asia Society Policy Institute. The company’s move should be seen as “a chilling message to anyone that wishes to come and build factories in the US,” he said.
Shanghai-based Jinko on Friday agreed to sell about a 75% stake in its solar panel facility in Florida to FH Capital, a private equity fund. The main purpose of selling the stake is “to optimize its overseas asset allocation, ensure its long-term strategic layout in the US, enhance flexibility and compliance, and facilitate its long-term development," a Jinko spokesperson said in a written response to Bloomberg questions.
The decision was prompted by a need to comply with “US domestic manufacturing regulations” and to “minimize operational risks,” Jinko said in a corporate filing, without citing any specific regulations.
Jinko’s sell-down follows similar moves by China-based competitors to scale back exposure to the US or to exit entirely. Trina Solar Co. sold a majority stake in its Texas assembly facility in 2024, and last year Corning Inc. acquired a JA Solar Technology Co. plant in Arizona.
Story Continues
Policy changes under Trump’s One Big Beautiful Bill Act mean it has become harder, if not completely impossible, for factories controlled by Chinese companies, or heavily reliant on China-dominated supply chains, to be eligible for lucrative manufacturing tax credits.
Losing access to those credits puts Chinese-owned factories at a “huge disadvantage” compared to domestic rivals, said Rob Barnett, a senior analyst at Bloomberg Intelligence. For example, Arizona-based First Solar Inc., the largest US solar producer, told investors in February that it expects to receive more than $2 billion in credits this year.
While Treasury Department guidance on specific ownership thresholds for tax credit eligibility isn’t expected to be issued until later this year, analysts expect those conditions to be difficult for China-linked firms to meet.
“The policy environment is getting more restrictive,” said Margaret Jackson, a senior associate at the Center for Strategic and International Studies and previously a senior counselor for policy at US Department of Commerce during Biden’s tenure.
Those tougher rules mean Trump’s meeting this week with President Xi Jinping in Beijing is unlikely to prompt new investments from China’s manufacturers in green technology industries. That’s even though Trump himself has at times expressed openness to the idea.
“I’m not sure that below him there’s a lot of appetite to create space for more Chinese investment,” Jackson said.
--With assistance from Ocean Hou and Mark Chediak.
(Adds chart)
Most Read from Bloomberg Businessweek
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©2026 Bloomberg L.P.
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- How Chinese Solar Makers And IPO Hopefuls Are Surviving The Turbulent US market
May 13, 2026
"Ensuring that they have a stake in the ground but being under the radar and waiting and seeing is probably the wisest path." – Bradley Burgess
image credit: Bamboo Works
Key Takeaways
The Trump administration's effort to cut subsidies for China-linked solar panels manufactured in the U.S. is forcing Chinese companies to scale back ownership A recent flurry of formal U.S. IPO withdrawals by smaller Chinese companies signals a coordinated push by U.S. and Chinese regulators to sift out low-quality stocks
Donald Trump is creating new headaches for Chinese solar panel makers, just as a slow death seems to be unfolding for new U.S. listings by Chinese companies. We see a shared narrative here. Whether dealing with quiet new policies from the Trump administration or facing intense scrutiny from Wall Street regulators, China Inc. is being forced to adapt. In both areas, Chinese businesses are discovering that flying under the radar and navigating the shifting sands of political and regulatory agendas is the safest way forward.
The solar front has been heating up lately under the Trump administration, which has reportedly tweaked U.S. policies to cut off subsidies for China-linked solar panels, even if they're manufactured in the U.S. These rules dictate that Chinese companies can't own more than 25% of these U.S. plants. This has led a growing number of solar installers to start shunning U.S.-based Chinese factories operated by names like JinkoSolar (NYSE:JKS), Trina (688599.SH), and Longi (601012.SH).
In what looks like a direct response, JinkoSolar announced last week it's selling 75% of its U.S. subsidiary to a private equity company, though it will retain the remaining 25%. We think this is a highly interesting move. Some fear-oriented Chinese manufacturers might be tempted to jump ship, give up completely, and say they're done with the U.S. We'll skip past the legality of what Trump is doing, as it's almost certain to be challenged in the U.S. courts. But keeping a stake in the ground while waiting and seeing is probably the wisest path for these businesses. It's questionable what value is truly getting added in the U.S., considering a big chunk of the components for these panels are actually made in China at the parent company. Still, profit margins are much better in the U.S.
After all, politics always change. We've seen these winds shifting over the past several years, and that's not going to change. Consider what was going on with cryptocurrency before Trump was elected: the Biden years were notable for a strong agenda against crypto miners, and the SEC was strictly anti-crypto. At the time, Chinese-backed crypto companies needed to be very careful to fly beneath the radar. Once the administration changed, that environment shifted completely because Trump is very pro-crypto.
Story Continues
The current solar policy is clearly agenda oriented. Companies need to be acutely aware of powerful trade lobbies looking to protect U.S. industry, such as those supporting First Solar (FSLR.US). There's a similar dynamic in the battery storage sector, where huge makers like Gotion (002074.SZ) are facing a concerted lobby in certain U.S. regions managed by anti-China politicians. We believe it's smarter for Chinese firms to take measured actions — like Jinko dropping the stake in its U.S. facility to 25% — that align with pending guidance without making radical changes.
A slow death of U.S. listings by Chinese companies
Shifting gears, we're seeing the latest twist in the slow death of U.S. listings by Chinese companies. We've chronicled this story quite a lot, which has seen major listings come to a virtual standstill over the last year. However, the latest development is a flurry of small Chinese companies suddenly formally withdrawing their U.S. IPO applications. In the last month, four companies took that formal step, compared with just two for all the rest of the year. All of these listings were for $20 million or less.
This is somewhat unusual. Typically, most Chinese companies would just quietly abandon their applications without making this kind of formal declaration. This flurry feels like a coordinated response to pressure from both sides. On the U.S. side, neither the exchanges nor the SEC wants meme stocks or penny stocks that lack sufficient quality. U.S. regulators want to protect small retail investors who might open Robinhood at a coffee shop to try and make a quick buck. We've seen a lot of these stocks start off with a small gain and then just crash. There's suspicion that the companies themselves are involved in manipulation behind the scenes, rather than just the mom-and-pop GameStop or Reddit investor crowds.
China is also cracking down on these smaller IPOs. The Chinese securities regulator likely doesn't want poor-quality companies listing in the U.S. because it makes the country look bad. In truth, China would actually prefer higher-quality companies to list on overseas exchanges as an exercise in soft power. A quality business like Chagee (CHA.US) or Pop Mart (9992.HK) reflects much better on society overall, whereas a wave of low-quality equities is a face-losing exercise. We believe there's going to be a refinement — a sifting of the wheat from the chaff. While Hong Kong is emerging as a stronger alternative and picking up many companies that would have previously gone to the U.S., the U.S. market still has the greatest sway and cachet. For mid-sized to large Chinese companies with a true international presence and the ambition to keep expanding outside their home market, the U.S. is still where the global investors are. We'll likely still see serious Chinese companies listing in the U.S., but not as many as we've seen historically.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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- First Solar, Inc. (FSLR) Shareholder/Analyst Call Prepared Remarks Transcript
May 13, 2026 · seekingalpha.com
First Solar, Inc. (FSLR) Shareholder/Analyst Call Prepared Remarks Transcript
- Green ETFs to Watch as Low-Emission Power Beats Global Electric Supply
May 13, 2026
The global energy landscape has reached a historic pivot point recently. According to the International Energy Agency’s (IEA) latest Global Energy Review report, an increase in worldwide low-emissions power generation, led by the relentless expansion of renewables and nuclear power, outpaced total electricity supply growth in 2025.
This development makes the clean-energy sector a clearer beneficiary of rising electricity demand driven by the rapid adoption of artificial intelligence (AI) infrastructure, along with the accelerating electrification of industries across the economy.
With clean energy now positioned as the dominant growth engine of the global power grid, increasingly displacing fossil fuels, the equity market’s spotlight is naturally shifting toward renewable-energy stocks and, by extension, the exchange-traded funds (ETFs) that hold them, offering investors an efficient way to capture this long-term structural momentum.
Before diving into the fundamentals of these ETFs, investors should first examine the mechanics behind the renewable-energy transition and determine whether it represents a one-time shift or a durable long-term trend. This assessment can help investors seeking to capitalize on a decarbonizing world make a more informed investment choice.
Clean Power’s Record-Breaking Run
According to IEA’s 2026 Global Energy Review report, global renewable generation increased around 8.5% year over year in 2025. In contrast, generation from fossil fuels declined, with global coal-fired generation falling around 0.5%. As a result, and in line with previous IEA forecasts, global renewable generation virtually matched coal-fired generation in 2025.
Annual renewable capacity additions increased 16% globally and reached 800 gigawatts (GW) last year, marking the 23rd consecutive year in which renewables set new expansion records.
In particular, growth in solar photovoltaic (PV) met more than one-quarter of the global growth in primary energy demand. This marked the first time on record that a modern renewable energy source accounted for the largest share of global energy demand growth.
Factors such as declining renewable-energy installation costs and supportive policy measures from European and Chinese governments, which unlocked hundreds of billions of dollars in investment, were among the primary catalysts behind this record-breaking growth in renewable energy generation. Impressively, solar and onshore wind are now the cheapest sources of new electricity generation across most of the world.
Story Continues
The 2022-2023 fossil fuel price crisis forced many countries to prioritize domestic renewable generation over imported gas and coal over the past few years.
Will Renewables Keep Up the Momentum?
Looking ahead, IEA expects global renewable electricity generation to increase roughly 1,050 terawatt-hours (TWh) annually, with solar PV projected to contribute more than 600 TWh on average. In particular, low-emissions energy sources, such as renewables, led by solar, along with nuclear, are expected to increase their share of global electricity generation to 50% by 2030, up from 42% in 2025.
In contrast, coal use in the power sector is expected to shift to a declining trajectory, with its share of the electricity mix falling to 27% by 2030, from 34% in 2025.
For renewable energy companies – from solar panel manufacturers and wind turbine producers to battery storage and grid software firms – this trend points to a multi-year runway for contracted revenue growth, supported by persistent tailwinds, such as accelerating electrification across data centers, electric vehicles (EVs), and heat pumps; continued cost declines in solar PV and wind; and rising investment in grid-scale storage and grid upgrades needed to accommodate variable power generation.
Green ETFs to Watch
Against the current backdrop, investing in individual renewable stocks may appear attractive, but it also carries single-stock risks, including uncertainties related to project delays or cancellations and sudden regulatory changes.
In contrast, clean energy ETFs, often termed as green ETFs, offer diversified exposure across the entire clean energy ecosystem (equipment makers, project developers, utilities, storage and grid tech), reducing idiosyncratic risk associated with investing in a single stock within a rapidly evolving industry.
Thus, to capitalize on the booming clean energy industry, investors may keep a close eye on the following funds:
iShares Global Clean Energy ETF ICLN
This fund, with net assets worth $2.78 billion, offers exposure to 106 companies that produce energy from solar, wind, and other renewable sources. Its top three holdings include: Bloom Energy BE (with 13.14% weightage), First Solar FSLR (7.89%) and Nextpower (7.37%).
ICLN has soared 66.9% over the past year. The fund charges 39 basis points (bps) as fees. It traded at a volume of 8.20 million shares in the last trading session.
First Trust NASDAQ Clean Edge Green Energy ETF QCLN
This fund, with net assets worth $785 million, offers exposure to 52 companies engaged in manufacturing, development, distribution & installation of emerging clean-energy technologies, including, but not limited to, solar PVs, biofuels and advanced batteries. Its top three holdings include: BE (11.32%), On Semiconductor (10.01%) and Monolithic Power Systems (9.02%).
QCLN has surged 87.9% over the past year. The fund charges 59 bps as fees. It traded at a volume of 0.33 million shares in the last trading session.
ALPS Clean Energy ETF ACES
This fund, with net assets worth $125.7 million, offers exposure to a diverse set of U.S. and Canadian companies involved in the clean energy sector, including renewables and clean technology. Its top three holdings include: Plug Power (6.08%), Albemarle Corp. (5.45%) and Nextpower (5.31%).
ACES has rallied 43.3% over the past year. The fund charges 55 bps as fees. It traded at a volume of 0.03 million shares in the last trading session.
Invesco Solar ETF TAN
This fund, with a market value worth $1.8 billion, offers exposure to 32 companies in the solar energy industry. Its top three holdings include: FSLR (10.48%), Nextpower (9.30%) and Enlight Renewable Energy (7.80%).
TAN has surged 77.6% over the past year. The fund charges 70 bps as fees. It traded at a volume of 1.12 million shares in the last trading session.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
Invesco Solar ETF (TAN): ETF Research Reports
iShares Global Clean Energy ETF (ICLN): ETF Research Reports
First Trust NASDAQ Clean Edge Green Energy ETF (QCLN): ETF Research Reports
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This article originally published on Zacks Investment Research (zacks.com).
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- China’s $3 Billion US Clean Tech Exit Is an Investment Warning
May 13, 2026
(Bloomberg) -- Renewable energy manufacturer Jinko Solar Co.’s recent decision to sell control of its Florida facility extends a multi-billion retreat from the US by China’s clean technology firms, as they contend with an increasingly hostile policy environment and the potential loss of Biden-era incentives.
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China-based companies in the sector scrapped about $2.8 billion in planned US manufacturing projects in 2025, according to research by Rhodium Group. As of the end of March, more than half of proposed Chinese clean-tech investments in the US announced since 2022 had been canceled, paused or delayed, according to the group's calculations.
That's part of a broader downturn that saw a 17% decline last year in all clean technology investment in the US, Rhodium said in a report published Wednesday.
Producers of solar equipment, batteries and electric vehicle technology have experienced a sharp reversal since Biden-era tax credits lured Chinese companies to announce $5.6 billion of investments in 2023 alone. Since then, President Donald Trump’s administration has rolled back incentives and, most crucially, last year’s tax bill introduced new hurdles for manufacturers with ties to so-called foreign entities of concern.
“Jinko’s decision underscores the enormous challenges facing Chinese clean-tech firms operating in the US,” said Li Shuo, director of the China Climate Hub at the Asia Society Policy Institute. The company’s move should be seen as “a chilling message to anyone that wishes to come and build factories in the US,” he said.
Shanghai-based Jinko on Friday agreed to sell about a 75% stake in its solar panel facility in Florida to FH Capital, a private equity fund. The main purpose of selling the stake is “to optimize its overseas asset allocation, ensure its long-term strategic layout in the US, enhance flexibility and compliance, and facilitate its long-term development," a Jinko spokesperson said in a written response to Bloomberg questions.
The decision was prompted by a need to comply with “US domestic manufacturing regulations” and to “minimize operational risks,” Jinko said in a corporate filing, without citing any specific regulations.
Jinko’s sell-down follows similar moves by China-based competitors to scale back exposure to the US or to exit entirely. Trina Solar Co. sold a majority stake in its Texas assembly facility in 2024, and last year Corning Inc. acquired a JA Solar Technology Co. plant in Arizona.
Story Continues
Policy changes under Trump’s One Big Beautiful Bill Act mean it has become harder, if not completely impossible, for factories controlled by Chinese companies, or heavily reliant on China-dominated supply chains, to be eligible for lucrative manufacturing tax credits.
Losing access to those credits puts Chinese-owned factories at a “huge disadvantage” compared to domestic rivals, said Rob Barnett, a senior analyst at Bloomberg Intelligence. For example, Arizona-based First Solar Inc., the largest US solar producer, told investors in February that it expects to receive more than $2 billion in credits this year.
While Treasury Department guidance on specific ownership thresholds for tax credit eligibility isn’t expected to be issued until later this year, analysts expect those conditions to be difficult for China-linked firms to meet.
“The policy environment is getting more restrictive,” said Margaret Jackson, a senior associate at the Center for Strategic and International Studies and previously a senior counselor for policy at US Department of Commerce during Biden’s tenure.
Those tougher rules mean Trump’s meeting this week with President Xi Jinping in Beijing is unlikely to prompt new investments from China’s manufacturers in green technology industries. That’s even though Trump himself has at times expressed openness to the idea.
“I’m not sure that below him there’s a lot of appetite to create space for more Chinese investment,” Jackson said.
--With assistance from Ocean Hou and Mark Chediak.
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