Solar energy investment is set to overtake oil. How to trade it

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With investment in solar energy soon set to outpace that of oil production, here's how to play the boom.

Solar investment could reach a turning point in 2023, and some stocks are well-positioned to benefit from the boom. Last month, the International Energy Agency said that solar investments are expected to top $1 billion per day in 2023, putting them on track to outpace the amount of investment going into oil production for the first time.

Given this backdrop, CNBC Pro screened for solar stocks that can outperform during this investment boom. The companies on the list met the following criteria: Global X Solar ETF or Invesco Solar ETF member Market cap of $1 billion or greater Nasdaq or New York Stock Exchange-listed stock Buy ratings from at least 60% of analysts Upside to average price targets of 20% or more Enphase Energy shares made the list and are expected to surge more than 35%, based on the average analyst price target.

 

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