Is FTC Solar Stock Halal?
Table of Contents
How much of FTC Solar’s revenue comes from haram?
FTC Solar manufactures solar tracking devices and software designed to direct solar panels towards the sun and follow the sun’s path throughout the day to increase solar panel efficiency.
FTC Solar earns its revenue from the following revenue sources:
- Product Revenue:
Includes the sale of FTC Solar’s Voyager trackers, tracker components, and software licenses.
- Service Revenue:
Includes revenue generated from shipping and handling, subscription licenses, and maintenance and support services.
The contributions from each of FTC Solar’s revenue segments for the six months ended June 30th, 2021, were as follows:
Practical Islamic Finance concludes:
None of FTC Solar’s revenue comes from anything inherently haram.
Does FTC Solar rely on interest to operate?
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What is FTC Solar’s Environmental, Social, and Governance (ESG) impact?
Environment
FTC has installed over 2.5 GW of trackers at more than 75 large-scale utility locations. Voyager trackers are capable of increasing solar production by up to 6%.
Social
No notable social highlights.
Governance
No notable governance highlights.
Practical Islamic Finance concludes:
FTC Solar has a net positive ESG impact.
Comfort Rating
From FTC Solar’s business, financial, and ESG reviews, Practical Islamic Finance rates FTC Solar stock as: