Which clean energy stocks are halal? Of the 10 names on this list, 5 pass AAOIFI screening today, 1 are doubtful and 4 are not halal. The halal names right now include First Solar, Inc. (FSLR), SolarEdge Technologies, Inc. (SEDG), Constellation Energy Corporation (CEG) and 2 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.
5
Halal
1
Doubtful
4
Not Halal
Halal (5)
First Solar, Inc.
$209.03
-3.24%
SolarEdge Technologies, Inc.
$36.43
+6.52%
Constellation Energy Corporation
$284.75
-0.44%
GE Vernova Inc.
$1,079.00
+1.48%
Tesla, Inc.
$365.44
-14.52%
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.