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If you've been following along with Money Morning, you know we've been bullish on solar energy stocks for years now.
And that's been very profitable for our readers.
In fact, Vivint Solar Inc. (NYSE: VSLR) is up 90% since we said it was our best solar energy stock to buy back in January.
VSLR had a perfect VQScore at the time, which meant it was ready to climb higher in a hurry.
And now we've found another solar stock with a perfect VQScore, making it one of the best solar energy stocks you can buy.
We'll show you this top solar stock in a bit, but we first want to show you why this industry is so explosive.
Solar Energy Is the Future
Renewable energy sources, like solar, will eventually dethrone fossil fuels. So, while Wall Street is arguing over what the best solar energy stocks to buy right now are, we already have one lined up for you.
In fact, Germany set a new energy record in late April.
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On April 22, 77% of all energy consumed by German households was created from wind, biomass, and solar energy.
And at some points, power output in Germany surpassed the rate of consumption. So, Germany's electrical power was 100% supplied by renewables like solar energy during that time.
However, you can also look at the UK's energy production over the past week.
As of this morning (May 8), the UK's National Grid Electricity System Operator throughout England, Scotland, and Wales ran entirely on renewable energy sources.
This is just the start of how powerful the renewable energy sector will become.
By 2030, Germany intends to have 65% of its power produced through solar energy and other renewables. And by 2050, the UK will phase out at least 50% of all coal-fired plants.
Over the next four years alone, the International Energy Agency (IEA) says renewable energy will provide 30% of all power demand. That's up 6% from 2017's 24%.
With the entire world shifting its focus to solar energy and other renewables, they are becoming pivotal talking points in the United States.
In the last decade alone, solar energy has averaged 50% growth per year. And since 2012, the amount of Americans working in solar has more than doubled to 242,000 in over 10,000 companies.
In 2015, the global solar energy market was valued at $86 billion. And by 2022, Statista says that number will skyrocket to $422 billion. That's a massive 391% increase.
But the Solar Energy Industries Association also says that by 2050, 50% of the entire world's electricity will be from renewables.
This is the sort of industry growth investors clamor for, and you can still get in on the ground floor. That's why we've used the Money Morning Stock VQScore™ to find the next solar energy stock with a perfect score…
This Is the Best Solar Energy Stock Right Now
About the Author
Daniel Smoot is a Baltimore-based editor who helps everyday investors with stock recommendations and analysis. He regularly writes about initial public offerings, technology, and more. He earned a Bachelor's degree from Towson University.