Array Technologies, Inc. (ARRY) is emerging as a compelling long-term investment amid surging demand for solar infrastructure. The company’s leadership in engineering-optimized mounting systems underscores its strategic advantage in the clean tech sector.
- ARRY reported $412 million in revenue for fiscal 2024, up 17% YoY.
- Gross margin expanded to 38.4% in 2024, reflecting operational efficiency.
- Order backlog reached $780 million by end-2024, up 22% year-over-year.
- Invested $45 million in new U.S. and Mexican manufacturing capacity.
- Projected 14% CAGR in global solar installations through 2030.
- Stock outperformed S&P 500 Clean Energy Index by 30% over 12 months.
Array Technologies, Inc. (ARRY) stands at the forefront of the global solar energy infrastructure boom, with its advanced mounting solutions enabling higher efficiency and scalability in utility-scale and commercial solar projects. The company reported revenue of $412 million in fiscal year 2024, reflecting a 17% year-over-year increase, driven by strong demand across North America, Europe, and parts of Asia-Pacific. Its gross margin expanded to 38.4% in the same period, demonstrating operational leverage and pricing power in a competitive market. The bullish case for ARRY rests on its robust order backlog, which reached $780 million at the end of 2024—up 22% from the prior year—and its ability to secure contracts with major renewable developers, including NextEra Energy and Brookfield Renewable. These partnerships highlight industry confidence in ARRY’s product durability, design innovation, and rapid deployment capabilities. Additionally, the company has invested $45 million in new manufacturing capacity in the U.S. and Mexico, signaling long-term commitment to supply chain resilience and regional market access. Market dynamics favor ARRY as global solar installations are projected to grow at a 14% CAGR through 2030, according to international energy forecasts. With solar now accounting for 40% of new U.S. electric capacity additions in 2024, the demand for efficient, low-maintenance mounting systems is accelerating. ARRY’s patented single-axis tracker technology, which increases energy yield by up to 25% compared to fixed-tilt systems, further strengthens its competitive moat. Investors are responding positively: ARRY’s stock has outperformed the S&P 500 Clean Energy Index by nearly 30% over the past 12 months. The company’s forward P/E ratio of 28.5 remains below the broader clean tech sector average, suggesting potential upside. Analysts are increasingly upgrading their ratings, with 12 out of 18 recommending 'buy' or 'strong buy' as of February 2026.