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One of President Joe Biden’s first major acts as the 46th President of the United States was to sign an executive order rejoining the U.S. into the Paris climate accord: It’s officially time for the renewable energy boom.
Solar and Wind Energy Stocks are already on the rise since President Biden was declared winner of the 2020 Presidential Election. And renewable energy stocks have gotten hotter following the inauguration.
A day after the inauguration of President Biden, Bloomberg Green reported that “the world’s biggest oil company, Saudi Aramco, has been excluding most refineries and chemical plants from its carbon disclosure to investors. It omitted carbon data for up to half of its real climate toll”. Coincidence?
Let’s save the planet (make it greener) and make loads of money (greens) while doing so. As investors the least we can do is invest in renewable energy stocks, enabling clean energy companies to save our planet, while we profit from the rise in their stock price: Smart and Cold. And we can do more by using part of the profits to Buy a Tesla or Reserve a GMC Hummer EV. Haha…
According to the International Energy Agency (IEA), “Renewable capacity additions are on track for a record expansion of nearly 10% in 2021“.
Two major factors are expected to drive/accelerate the expansion of global renewable energy capacity, according to the IEA:
1. The commissioning of delayed projects in markets where construction and supply chains were disrupted. Prompt government measures in key markets – the United States, India and some European countries – have authorised developers to complete projects several months after policy or auction deadlines that originally fell at the end of 2020.
2. Growth is set to continue in 2021 in some markets – such as the United States, the Middle East and Latin America – where the pre-Covid project pipeline was robust thanks to continued cost declines and uninterrupted policy support.
More so, markets are driven a lot by sentiment and the sentiment (from policy makers, investors and the general public) around the renewable energy market are extremely favourable: a recipe for wild growth.
Check out these hot Renewable Energy Penny Stocks. They’ve been growing impressively since the Biden win.
If you’re interested in investing in the Renewable Energy market, here are 7 Promising Renewable Energy Stocks to consider:
1. First Solar, Inc. (NASDAQ: FSLR)
First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems.
The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.
The Systems segment provides power plant solutions, such as project development; engineering, procurement, and construction; and operating and maintenance services to utilities, independent power producers, commercial and industrial companies, and other system owners.
The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.
2. Renewable Energy Group Inc (NASDAQ: REGI)
Renewable Energy Group, Inc. provides lower carbon transportation fuels in the United States and internationally.
The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels.
It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.
The company produces biomass-based diesel from various carbon feedstocks, including distillers corn and used cooking oils, and inedible animal fats, as well as from soybean or canola oils.
It is also involved in the purchase and resale of biomass-based diesel, petroleum-based diesel, renewable identification numbers, California Low Carbon Fuel Standard credits, and raw material feedstocks acquired from third parties; and sale of biomass-based diesel produced under toll manufacturing arrangements with third party facilities using its feedstocks.
In addition, the company provides day-to-day management and operational services to biomass-based diesel production facilities; and construction management and general contracting services for the construction or upgrade of biomass-based diesel production facilities.
Further, it sells petroleum-based heating oils and diesel fuels, as well as operates fermentation facilities.
The company owns and operates a network of 13 biorefineries, including eleven biorefineries located in the United States and two biorefineries located in Germany.
Renewable Energy Group, Inc. was founded in 1996 and is headquartered in Ames, Iowa.
3. TPI Composites Inc (NASDAQ: TPIC)
TPI Composites, Inc. manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers.
The company also provides composite solutions for the transportation industry.
It operates in the United States, Asia, Mexico, Europe, the Middle East, Africa, and India.
The company was formerly known as LCSI Holding, Inc. and changed its name to TPI Composites, Inc. in 2008. TPI Composites, Inc. was founded in 1968 and is headquartered in Scottsdale, Arizona.
4. Solaredge Technologies Inc (NASDAQ: SEDG)
SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide.
Its SolarEdge system consists of inverters, power optimizers, communication devices, smart energy management solutions, and a cloud-based monitoring platform.
The company’s products are used in a range of solar market segments, such as residential, commercial, and small utility-scale solar installations.
It also provides pre-sales support, ongoing trainings, and technical support and after installation services; and lithium-ion cells, batteries, and energy storage solutions for various industries, including energy storage systems, residential and commercial solar systems, uninterruptible power supplies, electric vehicles, aerospace, marine, and others.
The company sells its products to the providers of solar PV systems; and solar installers and distributors, electrical equipment wholesalers, and PV module manufacturers, as well as engineering, procurement, and construction firms.
SolarEdge Technologies, Inc. partnership with Schneider Electric to develop the residential solar market and provide homeowners with seamless energy management for smart homes of the future.
SolarEdge Technologies, Inc. was founded in 2006 and is headquartered in Herzliya, Israel.
5. Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products.
The company operates through two segments, Module and System Solutions (MSS), and Energy.
The MSS segment engages in the design, development, manufacture, and sale of a range of solar power products, including standard solar modules, specialty solar products, and solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories.
It also provides engineering, procurement, and construction; and operation and maintenance (O&M) services.
This segment’s energy solution products include solar inverters and energy storage systems for utility, commercial, residential, and specialty product applications.
Its O&M services include inspections, repair, and replacement of plant equipment; and site management and administrative support services for solar power projects.
The Energy segment engages in the development and sale of solar power projects; and operation of solar power plants and sale of electricity.
As of January 31, 2020, this segment had a fleet of solar power plants in operation with an aggregate capacity of approximately 880.2 MWp.
The company’s primary customers include distributors, system integrators, project developers, and installers/EPC companies.
Canadian Solar Inc. sells its products primarily under its Canadian Solar brand name; and on an OEM basis. It has operations in North America, South America, Europe, South Africa, the Middle East, Australia, Asia, and internationally.
The company was founded in 2001 and is headquartered in Guelph, Canada.
6. Air Products & Chemicals, Inc. (NYSE: APD)
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide.
The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage.
Air Products and Chemicals, Inc. was founded in 1940 and is headquartered in Allentown, Pennsylvania.
7. NextEra Energy Partners, LP (NYSE: NEP)
NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States.
It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
The company was founded in 2014 and is headquartered in Juno Beach, Florida.
Henry John is a Stock Portfolio Manager that focuses on companies developing cutting-edge technologies.
Keeping track of cutting-edge techs, companies and stocks is what I do almost everyday. And I love it. Whether it’s artificial intelligence, 5g, or autonomous vehicles; I’m all in.
I’m a self-made millionaire who made most of his money investing in technology companies while working in finance.
Yes! I owe it all to tech and finance.