Solar energy is powering efforts to decarbonize global utilities and economies. First Solar (FSLR), a maker of solar photovoltaic (PV) modules, panels and systems, is a bright spot at the center of that transition.
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FSLR stock ranks No. 6 on IBD’s Best ESG Companies for 2022 list. The Tempe, Ariz.-based company sells its products to utilities. They, in turn, use solar technology to convert sunlight into electricity. It came in No. 1 in the energy category, ahead of Phillips 66 (PSX) and Cheniere Energy (LNG), No. 2 and No. 3, respectively.
“Solar energy is at the heart of ESG (environmental, social and governance) beneficiaries,” since governments and utility companies are moving away from fossil fuels to renewables, said Morningstar analyst Brett Castelli.
Yet even solar power companies have faced scrutiny from ESG critics. First Solar is making a green product, but it…