The halal green stocks begin to gain attention from Muslim investors. From scientists to private companies, many professionals are willing to take better care of the environment. Therefore, green energy stocks are currently in the attention of investors. Today most companies from all sectors have released their sustainability reports, aiming to achieve carbon neutrality in the future. Moreover, the Covid-19 outbreaks in 2020 didn’t disrupt green energy investments. According to the Bloomberg New Energy Finance report, the energy sectors recorded $505 billion in investment, including renewable energy and electric vehicles, presenting a 9% growth from the previous year.
Furthermore, according to Musaffa halal stock screener, the three green stocks presented in this article are also halal.
1. SunPower Corporation
Ticker Name : SPWR
Market Cap : $4.11 billion
Current Price : $21.85
SunPower Corp is a solar power generation company. It offers several brands of home solar systems used by residential customers. The brands include Equinox, SunPower InvisiMount, and Helix. The products mainly optimize mounting system installation and combine it with various technologies such as alternating current panel architecture, integrated plug-and-play power stations, and cable management systems. Additionally, the company also creates EnergyLink—a solar monitoring platform that helps the customers to ensure always-on connectivity with the installation.
Moreover, SunPower ensures its customers that by using SunPower solar solution products, they will save not just money but also time, fossil fuels, and the hassle of grid outages. Accordingly, SunPower has recorded a growth of 322.77% in the last five years.
Ticker Name : TSLA
Market Cap : $962.60 billion
Current Price : $21.85
Who does not know Tesla? It is a top-rated company offering electric cars whose markets have been present in several countries worldwide. Besides producing electric vehicles, Tesla also designs and manufactures battery energy storage from home to grid-scale, solar panels, and solar roof tiles. Tesla has become one of the most valuable companies globally and the most valuable automaker with a market cap of nearly $1 trillion. Accordingly, the company has captured 16% of the plug-in market and 23% of the battery-electric market. Its subsidiary, Tesla Energy, has also become one of the largest global suppliers of battery energy storage systems with 3 gigawatt-hours.
According to Tesla’s CEO, Elon Musk, the purpose of Tesla is to help accelerate sustainable transport and energy through electric vehicles and solar power. In 2020, Tesla recorded a global car sale of 499,550 units which increased by 35.8% from the previous year. In addition, the company went IPO on September 6, 2010, with a share price of $17.
3. Ballard Power Systems Inc
Ticker Name : BLDP.TO
Market Cap : $4.75 billion
Current Price : CAD16.08
Ballard Power Systems is a Canadian company that develops and manufactures proton exchange membrane (PEM) fuel cell products for various applications, including heavy-duty motive, portable power, material handling, and engineering services. The company has designed and shipped over 400 MW of fuel cell products to date. In addition, Ballard’s fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel and oxygen from the air to produce electricity.
Furthermore, Ballard signed established some fuel cell cooperations with several well-known automotive companies. The company has access to 2,000 patents/applications to date. The Ballard’s headquarter is in Burnaby, British Columbia, and currently employs 785 full-time employees.
Muslims investors who are interested to invest in green stocks, these three stocks can be their options. However, investors should understand their risk profile and personal financial roadmap before starting investing.
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