GE Vernova vs. First Solar: Oil Above $100 Just Changed Everything for This Trade

By Manali Pradhan, CFA – Apr 2, 2026 at 12:15PM ESTKey PointsSurging oil prices and supply disruptions are shifting energy markets toward reliability and energy security.GE Vernova benefits from strong backlog visibility and recurring services tied to global power infrastructure.First Solar’s near-term growth is more sensitive to financing, regulatory conditions, and project timelines.The energy market is now entering a new phase. Oil prices have surged above $100 per barrel in March 2026 amid escalating tensions in the Middle East. Roughly 20% of global oil and gas supply flows through the Strait of Hormuz, and recent disruptions in the region have heightened concerns around supply stability. Against this backdrop, energy markets are increasingly prioritizing energy security and reliable power supply over purely cost-driven decisions. Image source: Getty Images. Investor perceptions about energy stocks such as GE Vernova (GEV +0.00%) and First Solar (FSLR 2.20%) also seem to be changing, at least in the short run. Comparing the two companies GE Vernova is a global supplier of power and electrification equipment, offering gas turbines, grid equipment, and wind systems that form the backbone of the modern energy infrastructure. In fiscal 2025, the company booked orders worth $59.3 billion and reported revenue of $38.1 billion. The company exited fiscal 2025 with an equipment backlog of $65 billion and a total backlog of $150 billion. The company also expects to reach a backlog of at least $200 billion in the next few years, driven largely by gas power, grid infrastructure, and electrification projects. ExpandNYSE: GEVGE VernovaToday's Change(-0.00%) $-0.03Current Price$894.75Key Data PointsMarket Cap$241BDay's Range$865.95 - $912.9752wk Range$252.25 - $948.38Volume57KAvg Vol2.9MGross Margin20.28%Dividend Yield0.20% GE Vernova's installed equipment base already helps generate roughly 25% of the world's electricity. This, in turn, has created a massive, recurring services opportunity. In fiscal 2025, about 45% of GE Vernova's revenue came from services. The company also had a roughly $85 billion services backlog at the end of fiscal 2025, giving it strong earnings visibility even in uncertain macro environments. Pure-play solar module manufacturer First Solar also reported impressive results in fiscal 2025, with revenues of $5.2 billion and module shipments reaching 17.5 gigawatts. However, the company's contracted backlog has declined from 68.5 gigawatts at the end of fiscal 2024 to 50.1 gigawatts at the end of fiscal 2025, reflecting contract terminations and a more uncertain demand environment. ExpandNASDAQ: FSLRFirst SolarToday's Change(-2.20%) $-4.38Current Price$195.04Key Data PointsMarket Cap$21BDay's Range$194.64 - $200.9452wk Range$116.56 - $285.99Volume841KAvg Vol2.4MGross Margin40.88% Solar deployments are highly sensitive to financing conditions, regulatory approvals, and project execution timelines. All these factors are adversely affected during periods of market volatility. Hence, being a critical enabler of reliable power, GE Vernova appears to be a better pick in the current, increasingly unstable energy market.Read NextApr 1, 2026 •By Leo SunGE Vernova (GEV) Stock: Buy, Sell, or Hold?Mar 23, 2026 •By Scott LevineWhy GE Vernova Stock Popped TodayMar 19, 2026 •By Matt DiLalloBest Industrial Stocks to Buy in 2026 and How to Invest in ThemMar 19, 2026 •By Howard SmithIs GE Vernova the Smartest Investment You Can Make Today?Mar 15, 2026 •By Catie HoganBattle Royale: GE Vernova vs. First Solar.

Only One Can Make You Rich.Mar 7, 2026 •By Lyle DalyThe Largest Industrials Companies by Market Cap in March 2026About the AuthorManali Pradhan, CFA, is a contributing Motley Fool stock market analyst covering technology, pharmaceuticals, medical devices, and industrial sectors. Manali brings prior experience as a healthcare analyst and team lead at Market Realist, a data equity analyst at Morgan Stanley, and a data analyst at Deloitte Financial Advisory Services. She holds a bachelor’s degree in computer engineering and a master’s in finance from Mumbai University.TMFManaBStocks MentionedGE VernovaNYSE: GEV$894.27(-0.06%)-$0.51First SolarNASDAQ: FSLR$195.10(-2.17%)-$4.32*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.