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Alternative Energy Stocks To Buy Now UPDATED



Professor Parrish: Energy generated from natural resources that does not product pollution. Solar, wind, and geothermal are examples of green energy sources that are also renewable. There are a number of businesses and investment opportunities related to the renewable energy sector, from infrastructure to financing and workforce development.




alternative energy stocks to buy now



We see successful investors bringing forward both operating experience in the energy, utilities, or infrastructure industries as well as a sound understanding of energy and commodity markets and policies.


Professor Parrish: In addition to energy transition, we are optimistic about related opportunities in waste reduction, climate risk management in the supply chain, sustainable food and agriculture, and carbon capture.


According to Deloitte's "2023 renewable energy industry outlook (opens in new tab)," the IRA extends wind and solar tax credits for projects that started construction before 2025 and tech-neutral credits through at least 2032.


State clean energy policies also provide a boost, with 22 states and Washington, D.C., targeting 100% renewable energy or 100% carbon-free electricity by 2040 to 2050. Moreover, 43 of the 45 largest U.S. investor-owned utilities have committed to reducing their carbon emissions by raising the use of renewables. Meanwhile, private investment in renewables hit a record of $10 billion in the past year.


"America is in the midst of an energy transition," according to the 2022 report by trade group American Clean Power (opens in new tab). "Wind turbines, solar farms and battery storage facilities are popping up across the nation to deliver clean, affordable electricity."


At the end of 2022, corporations had contracted 77 gigawatts (GW) of clean power from utility-scale projects. Half of that power is enough for a cross-country drive by 15 million Teslas. This clean power demand by corporations is a "critical part" of America's energy transition, the trade group says.


The name General Electric (GE (opens in new tab), $89.92) does not exactly evoke the image of renewable energy. But the early 2024 spinoff of its GE Vernova unit is expected to change all that.


GE Vernova will incorporate General Electric's operations in renewables, power, digital and energy financial services under the leadership of CEO Scott Strazik. He has said that the focus of Vernova would be to address climate change and foster sustainable development.


Vernova's businesses include onshore wind turbines with rated capacities of 2 to 6 megawatts (MW) for different environments, offshore wind with 6 to 14 MW capacities for tougher conditions, hydropower generation, hybrid renewable energy and storage, grid solutions and related solutions.


Brookfield Renewable Partners (BEP (opens in new tab), $29.20) is a renewable energy company that operates hydroelectric, wind, utility-scale solar and storage facilities in North and South America, Europe and Asia. The company has a track record of investing in and operating high-quality renewable energy assets. It is part of Brookfield Asset Management, which manages $800 billion in assets.


"Corporate clean energy demand, low-cost energy profile, electrification, and energy independence continue to be key trends accelerating renewable deployment," the company said in its 2022 earnings release (opens in new tab).


NextEra Energy (NEE (opens in new tab), $75.97) is typically found on lists of the best green energy stocks to buy. NEE is the world's largest producer of wind and solar energy. It owns Florida Power & Light, which is the biggest electric utility in the U.S., providing clean electricity to more than 12 million people. It also is a corporate leader in sustainability, having been awarded the S&P 500 Global Platts 2020 Energy Transition Award for ESG leadership.


"We believe the IRA provides growth visibility for a broad range of low-cost clean energy solutions, in a predictable way and for a long time," Ketchum said. "In this environment, low-cost renewables will help drive long-term value for our customers and our shareholders and unitholders."


While the renewable energy stock has lagged so far this year amid the unwelcome headlines, it outperformed the S&P 500 in 2022 by 10% on a price basis. In total return, which is price appreciation plus dividends, Ketchum said the company has beat the S&P 500 over the three-, five-, 10- and 15-year periods.


Canadian Solar (CSIQ (opens in new tab), $35.86) is one of Wall Street's best green energy stocks. CSIQ is a solar power company that provides integrated solutions including solar power products, services and systems. It is one of the world's largest makers of solar photovoltaic products, as well as one of the largest solar power plant developers. Canadian Solar sells to utilities, businesses and consumers.


According to Deloitte's "2023 renewable energy outlook," residential solar demand is "growing faster than ever," up 35% in the first half of 2022 from the same period a year ago. This is due to households reacting to "rising retail electricity prices and weather-driven power outages," the report states.


SolarEdge Technologies (SEDG (opens in new tab), $272.31) is featured among the best green energy stocks because it is the largest maker of solar inverters, which converts direct current from solar panels into alternating currents used in homes and electrical grids. According to Morningstar, its DC optimizer is the leader in solar residential rooftop installations; the company has expanded its sales to include business and utility clients.


Beyond inverters, SEDG also expanded into energy storage, e-mobility, and uninterrupted power supply markets. However, the analyst believes two of these moves carry risks. An energy storage product "makes sense" but it departs from its policy of outsourcing manufacturing, he said. E-mobility may be a big and growing market but it requires more capital, carries execution risk and takes a long time to generate meaningful revenue.


GM, which sells vehicles under the Chevrolet, Buick, Cadillac, Baojun and Wuling brands, also jointly developed its Ultium battery platform with South Korea's LG Energy Solution to mass produce battery cells. GM is projecting that its next-gen Ultium packs will cost 60% less than existing batteries in use today with double the energy density. GM is reusing or recycling these batteries.


E-commerce giant Amazon.com (AMZN (opens in new tab), $97.71) joins the list of green energy stocks to consider because it is far and away the largest buyer of clean energy in the U.S., according to trade group American Clean Power.


"Corporate buyers are a critical part of the energy transition" in America from fossil fuels to clean energy, the trade group's report said. "Their accelerated buying of clean energy provides an important source of demand, while their efforts to decarbonize their products and services puts pressure on their supply chain to do the same."


The company develops, constructs and operates wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities and bioenergy plants. Ørsted operated 8.9 GW of offshore wind farms at the end of 2022, with the biggest concentration of operations in the U.K.


As the world tries to figure out how to fight climate change and reduce carbon emissions, many governments and companies are investing substantial resources in developing renewable energy sources. With the global economy focusing on transitioning towards new energy sources, a hefty amount of money is being invested in the infrastructure required to make such a move.


The Biden administration recently announced The Inflation Reduction Act, which intends to increase the rate at which businesses transition toward green energy sources. This is the largest investment in clean energy ever, with the government allocating $369 billion toward direct investments and tax credits. This move provides incentives for clean energy to be produced in the U.S., and many companies will seek to take advantage of these new opportunities.


Investing in green energy is about putting your money into companies using energy generated from natural sources. Governments worldwide are trying to pass legislation to increase the resources invested in renewable energy sources to rely less on fossil fuels.


Investing in green energy stocks allows you to put money towards companies focused on renewable energy sources, which many feel is the future of energy, period. At least the future of energy sector growth.


With the government further incentivizing companies to scale renewable energy sources with clean energy credits, this could be the ideal time to start investing money in this space. Here are the top seven green energy stocks that worth researching for investment right now.


The electric vehicle manufacturer is at the forefront of the green energy movement. Tesla also has a proven track record, and the company has been generating substantial profit from its regulatory credits. Tesla recently announced a deal for $5 billion worth of nickel with Indonesia as the company continues its search for this key material needed for producing electric vehicle batteries.


Stem is a global leader when it comes to AI-enabled smart energy storage. The company realizes that smart energy storage to solar, wild, electric vehicle charging and other renewable sources can increase revenue and reduce customer costs. For the government and other companies to reduce carbon emissions, they must use efficient energy storage systems. This is why we had to include Stem on our list of the best green energy stocks for 2022.


Plug Power provides an alternate energy technology by focusing on providing an end-to-end green hydrogen ecosystem, from production to storage. They use electrolyzers in order to produce carbon-free green hydrogen. The company then transports this green hydrogen from its plants to partners worldwide with cryogenic trailers and mobile storage units. The company created the first viable market for hydrogen fuel cell technology to help its customers with decarbonizing. They believe in a revolution for meeting net zero goals instead of simply working on incremental change. 041b061a72


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