The Best Clean Energy Stocks for September 2025
Clean energy isn’t just the future anymore – it’s happening right now, and the investment opportunities are real. While the sector has been volatile over the past few years, the fundamentals keep improving: costs are dropping, government support is strengthening, and electricity demand from AI data centers is creating new tailwinds.
But let’s be honest – not every clean energy stock is a winner. The sector went through a brutal correction in 2022-2023 as interest rates rose and some companies failed to deliver on ambitious promises. The survivors that emerged stronger are the ones worth watching today.
Here are the clean energy stocks that have caught my attention in September 2025, based on actual business performance rather than just green energy hype.
The Established Players
These companies have proven they can make money in clean energy, not just talk about it.
NextEra Energy (NEE)
NextEra remains the gold standard for clean energy investing. They’re the world’s largest producer of wind and solar energy, but they’re also a regulated utility serving Florida. This dual model provides both growth and stability.
What I like about NextEra is they’ve been doing this successfully for decades. They’re not chasing the latest trends – they’re methodically building renewable capacity while maintaining a strong balance sheet and consistent dividend growth.
The company is benefiting from surging electricity demand from data centers. Management expects rapid growth as AI workloads require massive power consumption, and NextEra is positioned to supply clean electricity at scale.
NEE has risen about 3.5% in 2025 despite political uncertainty around renewable energy policies. That steady performance reflects the underlying business strength rather than just policy speculation.
Constellation Energy (CEG)
Constellation is the largest producer of carbon-free energy in the US, primarily through nuclear power. They also operate hydro, wind, and solar assets, powering over 20 million homes and businesses with 90% carbon-free generation.
The nuclear angle is particularly interesting. While everyone focuses on solar and wind, nuclear provides reliable baseload power that doesn’t depend on weather conditions. That’s becoming more valuable as grid reliability becomes critical.
In early 2025, Constellation agreed to acquire Calpine for $26.6 billion, creating the country’s largest clean energy provider. The deal adds natural gas, geothermal, and battery storage to their portfolio.
Nuclear power is experiencing a renaissance as companies realize they need reliable clean energy for AI data centers and other always-on applications.
Pure Play Growth Stories
These companies are more focused on specific clean energy technologies with higher growth potential – and higher risk.
First Solar (FSLR)
First Solar makes thin-film solar panels that perform better in hot climates than traditional silicon panels. They focus on utility-scale solar farms rather than rooftop installations.
The company benefits from US manufacturing incentives and has a technology advantage in certain conditions. Their panels are particularly well-suited for large desert installations where traditional panels might struggle with heat.
First Solar represents about 9% of the iShares Global Clean Energy ETF, making it one of the largest pure-play solar manufacturers. They’ve managed to maintain profitability while many solar companies have struggled.
The risk is that solar panel manufacturing is highly competitive, with significant pricing pressure from Chinese manufacturers. But First Solar’s US production and technology differentiation provide some protection.
GE Vernova (GEV)
GE Vernova was spun off from General Electric in 2024, combining the company’s power and renewable energy businesses. They make gas turbines, wind turbines, and grid infrastructure.
What’s interesting about Vernova is they’re not just renewable energy – they also make natural gas turbines that provide backup power when wind and solar aren’t producing. This positioning makes them essential for grid reliability.
In Q3 2024, revenue increased 8% year-over-year to $8.9 billion, driven by gas power services and electrification. However, they’ve struggled with cost inflation and supply chain issues in their wind division.
The stock represents a bet on the infrastructure needed to support renewable energy growth, rather than just renewable generation itself.
Brookfield Renewable Partners (BEP)
Brookfield owns and operates renewable energy assets globally, including hydro, wind, solar, and energy storage. They focus on long-term contracted cash flows rather than development speculation.
The company has increased its dividend at a 6% compound annual rate over the past 20 years, which shows the consistency of renewable energy cash flows when properly managed.
Brookfield’s portfolio includes a stake in Westinghouse, the nuclear services company. Nuclear and hydro provide “dispatchable baseload power” that complements intermittent solar and wind generation.
This is more of an infrastructure play than a technology bet. They buy established renewable assets and optimize operations rather than developing unproven technologies.
The Volatile Growth Plays
These stocks offer significant upside potential but come with equally significant risks.
Tesla (TSLA)
Tesla is obviously known for electric vehicles, but their energy business includes solar panels, solar roof tiles, and energy storage systems like Powerwall and Powerpack.
The stock surged after Trump’s election victory, with CEO Elon Musk playing a prominent role in the campaign and transition. Political connections could help with regulatory approvals for autonomous driving technology.
Some analysts see a path to $2 trillion valuation driven by full self-driving, autonomy adoption, and the Cybercab service. But that depends heavily on regulatory approval and execution.
The energy storage business is growing as utilities need batteries to balance intermittent renewable generation. Tesla’s gigafactory approach could give them cost advantages in battery production.
Enphase Energy (ENPH)
Enphase makes microinverters for residential solar installations and home battery storage systems. Their technology allows individual solar panels to operate independently, improving overall system performance.
The residential solar market has been challenging recently due to high interest rates and policy changes in key states like California. However, the underlying trend toward distributed energy continues.
Enphase has been expanding internationally and adding energy storage products to reduce dependence on solar-only installations. Battery storage allows homeowners to maximize their solar investment and provide backup power.
This stock is highly sensitive to residential solar demand, which can be volatile based on policies, interest rates, and regional regulations.
What’s Driving Clean Energy in 2025
Several factors are creating genuine opportunities in clean energy beyond just environmental concerns:
AI Data Center Demand: Artificial intelligence workloads require massive amounts of electricity, and tech companies prefer clean energy sources for their operations. This is creating steady, long-term demand for renewable power.
Cost Competitiveness: Solar and wind are now the cheapest sources of electricity in most markets. Companies choose renewables for economic reasons, not just environmental ones.
Grid Reliability: As extreme weather becomes more common, diverse energy sources improve grid resilience. Battery storage helps balance supply and demand fluctuations.
Corporate Commitments: Major corporations like Google and Amazon have committed to clean power purchase agreements to achieve net-zero goals. This provides predictable revenue for renewable energy developers.
The Risks You Need to Understand
Clean energy investing isn’t without significant risks:
Policy Dependence: Many clean energy incentives depend on government policies that can change with elections. The Inflation Reduction Act provides support through 2032, but future policy is uncertain.
Capital Intensity: Renewable energy projects require massive upfront investments with long payback periods. Rising interest rates increase financing costs significantly.
Intermittency Issues: Solar and wind don’t produce power consistently, requiring backup systems or energy storage. This adds complexity and cost to renewable energy systems.
Supply Chain Challenges: Many renewable energy components are manufactured overseas, creating supply chain vulnerabilities and potential trade policy impacts.
Technology Risk: Rapid technological change can make existing equipment obsolete quickly. Companies need continuous R&D investment to stay competitive.
ETFs vs. Individual Stocks
If you want clean energy exposure without picking individual winners and losers, consider these ETFs:
iShares Global Clean Energy ETF (ICLN): Broad global exposure with over 100 holdings across renewable energy technologies.
Invesco Solar ETF (TAN): Focused on solar energy companies globally, offering concentrated exposure to solar growth.
First Trust NASDAQ Clean Edge Green Energy (QCLN): US-listed clean energy companies including electric vehicles and energy storage.
ETFs provide diversification but won’t outperform if you pick the right individual stocks. The tradeoff is reduced risk versus potentially lower returns.
Bottom Line
Clean energy is transitioning from a policy-driven theme to a genuine economic opportunity. The companies succeeding today have proven business models, not just good intentions.
NextEra and Constellation offer established operations with steady cash flows. First Solar and GE Vernova provide pure-play exposure to specific technologies. Tesla and Enphase offer higher risk/reward profiles for growth-oriented investors.
The sector will remain volatile as technologies evolve and policies change. But the underlying trends – falling costs, rising demand, and corporate commitments – suggest continued long-term growth for well-positioned companies.
Focus on companies with proven execution rather than just promising technologies. The clean energy winners of 2025 are those building profitable businesses, not just chasing the latest green energy trends.
Hungry for More Investment Ideas?
I’ve spent years reviewing investment services and newsletters. Here are some that focus on long-term growth trends like clean energy:
The clean energy transition represents one of the largest investment opportunities of our time. The key is separating the real businesses from the hype and investing accordingly.
