London, England, ZEXPRWIRE, Renewable energy stocks are among the most popular in the stock market this year, owing to the current status of the planet. This may, of course, be true in the case of global warming and climate change. Moreover, switching to renewable energy is, if anything, becoming more of a requirement every day. As a result, renewable energy firms are anticipated to be the primary source of future energy generation. Therefore, it should come as no surprise that some of the leading renewable energy stocks have seen significant gains over the last year.
Perhaps you believe that traditional energy corporations are resting their hands and not participating in the green economy. You’ll be relieved to learn that the old guard is keeping up with the trends as well. This is especially true in light of renewable energy’s potential for expansion, at least under the current administration. Perhaps the most compelling argument for trusting renewable energy is the current cost trend, which shows that renewable energy costs are falling. According to London-Gates analyst, these top renewable energy stocks should be added to your watchlist right now if you’re a long-term investor seeking value bets.
Top Renewable Energy Stocks
- Brookfield Renewable Partners (NYSE: BEP)
Brookfield Renewable Energy is one of the largest publicly traded renewable energy platforms in the world. A total of 23,000 MW of capacity is in the pipeline for the firm. Investors renewed their interest in the firm last month after the Biden administration announced a target of building 30 gigawatts of offshore wind energy in the United States by 2030. In North America, South America, Europe, and Asia, it has about 6000 producing facilities. The company’s objective is to generate 12 to 15% yearly total returns over the long run. Hydroelectric power, which accounts for over 62 percent of the company’s portfolio, is also a world leader.
Revenue fell 2.9 percent to $1.02 billion in the second quarter, compared to the first. However, investors should not miss that the company’s funds from operations increased by 21% in the first quarter compared to the same period last year.
In addition, the firm has invested or promised to invest $1.6 billion in a variety of transactions. The business announced to investors that it had concluded its first offshore wind investment in the first quarter. And investors seemed to be overjoyed by the news. Is BEP stock a top renewable energy stock to purchase now, given all of this?
- NextEra Energy
Another major renewable energy firm based in Florida is Nextra. Florida Power & Light Corporation, the country’s largest rate-regulated electric utility, is owned by the company. It also has a subsidiary that provides competitive energy. NextEra Energy Resources is the world’s largest solar and wind energy generator today. Since the beginning of the year, the stock of NEE has been moving sideways. However, this might be an excellent time to purchase for investors who believe in renewable energy’s long-term potential.
One of the company’s businesses, NextEra Energy Resources, delivers long-term, contract-based renewable energy to others. The corporation claims to be the world’s largest solar and wind power generator. This Florida utility is at the forefront of renewable energy development, and it is expected to be a key growth engine for many years to come.
In addition, the firm announced plans to develop Minnesota’s first sustainable natural gas facility with OPAL Fuels. In particular, this might provide nearly 6 million gallons of renewable natural gas equivalents each year. Would you consider buying NEE shares today, given these developments?
- First Solar
First Solar is a solar panel manufacturer as well as a utility-scale PV power plant supplier. Finance, construction, maintenance, and end-of-life panel recycling are among the services it offers. Today’s integrated power plant solutions from the corporation provide a cost-effective alternative to fossil-fuel energy generation.
The business has recently revealed that Series 6 CuRe (Copper Replacement), its next-generation photovoltaic (PV) technology, has the industry’s lowest reasonable rate of 0.2 percent per year. This unheard-of deterioration rate is up to 60% lower than typical crystalline silicon devices, ensuring that the module will retain at least 92 percent of its original performance at the end of the 30-year warranty. Would now be a good time to add FSLR stock to your watchlist, with the lockdown removed and production capacity returning to pre-pandemic levels?
You’re probably thinking that Chevron Corporation isn’t precisely a renewable energy stock. However, its recent collaboration with Toyota Motor Corporation (NYSE:TM) to investigate hydrogen production and commercialization is moving in the right direction. Commercialization of the hydrogen economy, of course, is not a possibility soon. Nonetheless, the firm has a few tricks under its sleeve. For example, it announced in early April that it will provide Japan’s Hokkaido Gas Co., Ltd. with nearly half a million tonnes of liquefied natural gas over five years, beginning in April 2022.
CVX stock is popular among investors, including Warren Buffett, because of its excellent balance sheet and decent growth potential. After all, we’re dealing with a firm with a 140-year history. And, perhaps most importantly, it pays a high dividend yield of almost 5%. Yet, despite this, the corporation has not sat on its laurels. So is CVX stock a suitable stock to buy in right now because of its hydrogen initiatives to assist the green economy?
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
Source: London-Gates Broker
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