Battle Royale: GE Vernova vs. First Solar. Only One Can Make You Rich.
Key Points
GE Vernova's backlog grew by $31.2 billion in 2025.
First Solar's revenue jumped up $1 billion in 2025 compared to the year prior.
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In a battle between two clean energy giants, which stock is better for long-term investors right now: GE Vernova (NYSE: GEV) or First Solar (NASDAQ: FSLR)?
GE Vernova benefits from AI demand
GE Vernova had an excellent 2025, led by $59.3 billion in orders, $38.1 billion in revenue, and $31.2 billion in backlog growth. Artificial intelligence (AI) and industrial electrification are the main reasons behind the company's surge, and that doesn't seem to be slowing down.
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For 2026, GE Vernova raised its guidance, now anticipating revenue of $44 billion to $45 billion led by its power and electrification divisions. The only thing holding GE Vernova back is its lagging wind business. Wind is expected to lose revenue again in 2026 and experience $400 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) losses.
GE Vernova should continue to see stellar growth through 2028. The company recently doubled its dividend to $0.50 and authorized additional share repurchases.
Image source: Getty Images.
First Solar had a sunny year
First Solar's stock recently declined, but it is still up 50% over the past 12 months. The solar company had a solid 2025 with a 24% increase in third-party module volume. This unit growth resulted in a billion-dollar increase in net sales, from $4.2 billion in 2024 to $5.2 billion in 2025.
First Solar has an exceptionally strong balance sheet compared to solar competitors. The company maintains a strong cash position compared to a very manageable debt load.
The biggest challenge for First Solar is its 2026 guidance. The company anticipates flat growth, which has investors and analysts concerned. Governmental policy risk weighs on First Solar as the window for federal clean energy tax credits was shortened by the Trump administration's "big, beautiful bill."
The winner of the battle royale
GE Vernova is the stronger growth stock right now. While demand for solar remains high, the shift in government policy is a real challenge. GE Vernova has the clearer growth path and is thus the winner of the battle royale.
Should you buy stock in GE Vernova right now?
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Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends First Solar and GE Vernova. The Motley Fool has a disclosure policy.
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