Solar power stocks: Is it a good long-term investment?

The solar power generation and installation business is a major source of employment in the United States. Companies in this sector are collaborating to move the global economy away from fossil fuels such as oil and natural gas toward renewable energy sources.

Solar is a long-term investment with an enormous opportunity even though it will take trillions of dollars and many years to complete the shift.

However, solar energy has significant potential for long-term investors and is growing at a rapid pace.

The National Renewable Energy Laboratory predicts that the solar energy industry will add 10 GW of new solar capacity each year from 2022 through 2022. That should rise to around 18 to 20 GW each year by 2023 2030.

The costs of those investments will plummet, but solar is on track to be the lowest-cost, mass power source in coming years.

Several large businesses are focusing on solar energy and should profit from its development, yet not all have a strategy to enhance shareholder value.

However, these three firms appear to be the most deserving of investors' attention:

1. First Solar,
2. Brookfield Renewable,
3. SolarEdge Technologies