The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how renewable energy stocks fared in Q1, starting with Shoals (NASDAQ: SHLS).

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 17 renewable energy stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 5.7% while next quarter’s revenue guidance was in line.

Luckily, renewable energy stocks have performed well with share prices up 15.9% on average since the latest earnings results.

Shoals (NASDAQ: SHLS)

Started in Huntsville, Alabama, Shoals (NASDAQ: SHLS) designs and manufactures products that make solar energy systems work more efficiently.

Shoals reported revenues of $140.6 million, up 74.9% year on year. This print exceeded analysts’ expectations by 8.7%. Overall, it was a stunning quarter for the company with EBITDA guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ adjusted operating income estimates.

“We began the year on very solid footing, with revenue above our expected range and growing at approximately 75% from the prior-year period. The underlying demand environment remains extremely strong as evidenced by our record backlog and awarded orders of $758 million. We are executing our strategic plan of accelerating growth within our core domestic utility scale solar market and expanding our offering into attractive high growth markets,” said Brandon Moss, CEO of Shoals.

Shoals achieved the highest guidance raise of the whole group. Unsurprisingly, the stock is up 26.5% since reporting and currently trades at $10.46.

Is now the time to buy Shoals? Access our full analysis of the earnings results here, it’s free.

Best Q1: Bloom Energy (NYSE: BE)

Working in stealth mode for eight years, Bloom Energy (NYSE: BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Bloom Energy reported revenues of $751.1 million, up 130% year on year, outperforming analysts’ expectations by 42%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

Bloom Energy pulled off the biggest analyst estimate beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 45.4% since reporting. It currently trades at $329.16.

Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: FuelCell Energy (NASDAQ: FCEL)

Founded in 1969, FuelCell Energy (NASDAQ: FCEL) is a leading manufacturer and developer of carbonate fuel cell technology for stationary power generation.

FuelCell Energy reported revenues of $35.59 million, down 4.9% year on year, falling short of analysts’ expectations by 12.6%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 37.1% since the results and currently trades at $23.76.

Read our full analysis of FuelCell Energy’s results here.

SolarEdge (NASDAQ: SEDG)

Established in 2006, SolarEdge (NASDAQ: SEDG) creates advanced systems to improve the efficiency of solar panels.

SolarEdge reported revenues of $310.5 million, up 41.5% year on year. This result beat analysts’ expectations by 2%. Zooming out, it was a satisfactory quarter as it also logged an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EPS estimates.

The stock is up 30.8% since reporting and currently trades at $58.38.

Read our full, actionable report on SolarEdge here, it’s free.

Plug Power (NASDAQ: PLUG)

Powering forklifts for Walmart’s distribution centers, Plug Power (NASDAQ: PLUG) provides hydrogen fuel cells used to power electric motors.

Plug Power reported revenues of $163.5 million, up 22.3% year on year. This number surpassed analysts’ expectations by 15.9%. Taking a step back, it was a slower quarter as it recorded a significant miss of analysts’ adjusted operating income and EPS estimates.

The stock is down 19.5% since reporting and currently trades at $2.84.

Read our full, actionable report on Plug Power here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.