Which clean energy stocks are halal? Of the 10 names on this list, 4 pass AAOIFI screening today, 2 are doubtful and 4 are not halal. The halal names right now include First Solar, Inc. (FSLR), Constellation Energy Corporation (CEG), GE Vernova Inc. (GEV) and 1 more.
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.
4
Halal
2
Doubtful
4
Not Halal
Halal (4)
Doubtful (2)
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.