Which clean energy stocks are halal? Of the 10 names on this list, 3 pass AAOIFI screening today, 3 are doubtful and 4 are not halal. The halal names right now include First Solar, Inc. (FSLR), GE Vernova Inc. (GEV), Tesla, Inc. (TSLA).
Halal Clean Energy and Solar Stocks
10 names, live verdicts, AAOIFI Standard 21
Solar, wind and nuclear are capital-hungry. Panels, plants and grid connections get built on borrowed money, so this is a theme where the debt-to-market-cap test does most of the work and business activity is rarely the problem. Utilities in particular carry the kind of long-dated debt that pushes them over the line.
3
Halal
3
Doubtful
4
Not Halal
Halal (3)
Doubtful (3)
Not Halal (4)
How this list is screened
Every name is checked the same way: first the business itself (no core revenue from interest-based finance, alcohol, gambling, pork, adult content or tobacco), then three ratios against market cap and revenue: interest-bearing debt under 30%, interest-bearing deposits under 30%, and prohibited income under 5%. A name that passes the business test but sits close to a ratio limit is marked Doubtful. Verdicts are re-screened on a schedule and after earnings, which is why a list like this changes.
HalalScreener screens; it does not certify. A verdict is an application of AAOIFI Standard 21 to public financial data, not a fatwa. Ask a qualified scholar for a personal ruling.
Purification calculator
Work out what to give away from dividends on the halal names above.