Top Renewable Energy Stocks To Buy Today? 3 For Your List


6 min read


This story originally appeared on StockMarket

Top Renewable Energy Stocks To Watch Right Now

As most would know, the long-term trajectory of the energy industry is towards renewable energy. Because of this, I can understand if renewable energy stocks are among the most active stocks in the stock market today. For the most part, the clean energy industry continues to gain momentum due to the underlying factor of climate change. Indeed, world leaders across the globe are looking to address the current climate crisis. This would see more funds and legislative support for renewable energy players, incentivizing innovation and growth in the space. For example, the European Union is planning to employ billions of euros through 2027 to achieve climate-neutral status. It aims to do so via the European Green Deal which will focus on carbon-intensive regions.

Over the past year, investors have and continue to flock towards pureplay energy companies. We can see this in hydrogen stocks such as Plug Power (NASDAQ: PLUG) and solar players like SunPower (NASDAQ: SPWR). Both PLUG stock and SPWR stock are looking at gains of over 420% in that time. Meanwhile, the automotive industry also seems to be getting in on the green energy action now. From electric vehicle (EV) manufacturers like Nio (NYSE: NIO) to pick-and-shovel plays such as ChargePoint Holdings (NYSE: CHPT), there is likely a renewable energy stock for most investors out there.

All in all, we seem to be looking at a multi-industry shift towards sustainable energy sources. Likewise, it would not surprise me to see investors doing the same with the top renewable energy stocks now. Should you be eager to join this group of investors yourself, here are three making headlines in the stock market now.

Top Renewable Energy Stocks To Watch

Clean Energy Fuels Corp.

Clean Energy Fuels is one of the country’s largest providers of clean fuel for the transportation market. It strives to decarbonize transportation through the development of renewable natural gas (RNG) that is derived from organic waste. Through the company’s services, thousands of vehicles can reduce the amount of climate-warming greenhouse gas from 60% to over 400% depending on the source of the RNG. CLNE stock currently trades at $11.04 at the end of Wednesday’s trading day and has been up by over 400% in the last year.

CLNE stock

In May, the company announced that Chevron (NYSE: CVX) is investing an additional $20 million in the Adopt-A-Port initiative with CLNE. The initiative will allow truck operators to subsidize the cost of buying new or converting to RNG-powered trucks. Clean Energy will manage the program, offering fueling services for qualified truck operators. “Chevron’s increased commitment to this project will allow us to extend favorable funding to smaller, independent operators, which means cleaner, RNG-fueled trucks operating in the ports,” said Greg Roche, Clean Energy vice president of Sustainability. “The resulting positive environmental impact will help to reduce local air pollution while also eliminating climate pollutants.

On May 6, 2021, Clean Energy reported that it delivered 92.4 million gallons of RNG, and revenue for the quarter was $77.1 million for the first quarter of 2021. During the quarter, the company also made a fuel agreement with Amazon (NASDAQ: AMZN) to supply the latter with potentially hundreds of millions of gallons of RNG. Given the exciting developments surrounding the company, will you consider buying CLNE stock?

Read More

Tesla Inc.

Tesla is a renewable energy company that focuses on EVs and solar panels. The company has made huge strides in both the EV space and the stock market. With its industry-leading EVs, Tesla has been receiving a lot of attention in the last year as the world progressively shifts to EVs. TSLA stock currently trades at $656.57 as of the closing bell on Wednesday.

top electric vehicle stocks to buy now (tsla stock)

In April, the company reported its latest quarterly earnings. In it, the company reported that it had achieved its highest ever vehicle production and deliveries. Its GAAP net income reached $438 million for the quarter, while its non-GAAP net income surpassed $1 billion for the first time in the company’s history. The Model 3 continues to be its best-selling premium sedan across the globe.

On Wednesday, the company announced that it has opened a solar-powered charging station with on-site power storage in the Tibetan capital Lhasa. This would be its first facility in China. The country is Tesla’s second-biggest market, but it would be the first charging site in the country with dedicated solar power and on-site power storage. All things considered, will you buy TSLA stock?

[Read More] Best Dividend Stocks To Buy Today? 3 To Watch Before July 2021

General Electric Company

Following that, we have New York-based multinational conglomerate, General Electric. In brief, the company’s massive portfolio spans the aviation, healthcare, additive manufacturing, and renewable energy sectors among others. As per our article today, we will be taking a look at the company’s renewable energy arm, GE Renewable Energy (GERE). By General Electric’s estimates, GERE is now a $15.7 billion business, boasting one of the broadest renewable energy portfolios in the industry. The likes of which consist of wind, hydro, and utility-scale solar energy solutions, to name a few. As it stands, GE stock closed Wednesday’s session at $12.95 per share.

best epicenter stocks (GE stock)

On the operational front, GERE does not seem to be sitting idly by right now. Earlier this month, the division successfully signed a significant wind power project in New Delhi, India. Through a collaboration with local renewable energy firm Continuum Green Energy, GERE will supply, install, and commission 55 sets of its onshore wind turbines locally. According to the company, the project could potentially power 125,000 households across India with green energy. If that wasn’t enough, GERE is also hard at work pushing innovations in green tech today. As of today, its LM Wind Power subsidiary is working with sustainable energy research firm TNO Energy Transition. The duo is now collaborating on the Turbine Improvements for Additional Energy project, refining wind turbine blade tech.

Overall, General Electric appears to be very active on the renewable energy front. From growing its portfolio to improving upon existing tech, this is evident. On top of all that, the company could be looking at tailwinds as industry demands pick up on the aviation front. Given all of this, would you consider GE stock a top buy now?

Source link

Leave a Reply

error: Content is protected !!