Read 6 minutes
This story originally appeared on StockMarket
Do you have these top green energy stocks on your summer watchlist?
It wouldn't surprise me to see that green energy stocks are among the most active stocks today. With the effects of climate change more severe than ever, the green energy industry is understandably becoming increasingly important. As the world shifts towards clean and sustainable energy sources, green energy stocks could flourish. Because of this, investors might want to keep an eye on the sector now. For one, investment bank Citi (NYSE: C) seems to believe so. Ken Pang, Citi's Head of Investment Strategy for Asia-Pacific, highlighted the sector as "very productive" yesterday.
According to Pang, major governments around the world are focused on sustainable development. In a broader sense, this would mean that there would be plenty of money flowing into the industry. In addition, the analyst believes that the green energy trend "will likely remain with us for a good part of the next decade". This could make green energy stocks a potential long-term game for investors now. For example, we could look at some of the leading names in the solar energy industry right now. Companies like Enphase (NASDAQ: ENPH) and Daqo New Energy (NYSE: DQ) have skyrocketed their share prices over the past year. During this time, the ENPH share has risen by over 200% and the DQ share expects gains of over 490%.
Meanwhile, First Solar (NASDAQ: FSLR) plans to invest $ 680 million in expanding its US solar production capacity. With no shortage of exciting developments in the industry today, you may be interested in green energy stocks yourself. If so, here are four things you should know about in the stock market by now.
Green energy stocks to watch out for this month
General Electric Company
First of all, we have the General Electric Company (GE). As the name suggests, the multinational conglomerate has numerous companies in the energy industry. Today we focus on the GE Renewable Energy business unit. GE estimates that green energy is a $ 15.7 billion business. It also has one of the broadest portfolios in the renewable energy industry. This includes a combination of onshore and offshore wind turbines, solar and grid solutions on a supply scale. To date, GE Renewable Energy has installed over 400 gigawatts of clean renewable energy, equipping over 90% of utility companies worldwide with its grid solutions.
Aside from the impressive green portfolio, GE doesn't seem to be easing anytime soon. As of yesterday, the company has been working with LafargeHolcim, a global leader in building solutions, on its latest wind energy project. Together, both companies will investigate more sustainable and cost-saving applications for old decommissioned wind turbines. Previously, GE also landed one of the largest onshore wind contracts in the Southeast Asia region last month.
It also works with some of the biggest renewable energy names in the Philippine-Vietnamese region. As part of this collaboration, GE will supply, install and commission wind turbines for the 88 megawatt wind farm in Vietnam. With the company's green energy division now in full swing, GE stock could be a viable green energy company. Would you say the same
(Continue reading) 4 Artificial Intelligence Stocks To Watch For Now
Ford Motor Company
Ford is a multinational automaker that has invested heavily in green energy with its new line of electric vehicles. The company recently announced its Ford + plans for growth and value creation based on its electric vehicles and connected services. The company expects 40% of Ford's vehicle sales to be all-electric by 2030 and has increased its planned electrification spend to over $ 30 billion by 2025. This would include the development of its proprietary IonBoost batteries. The F-stock has increased by over 70% since the beginning of the year.
Earlier this week, the company announced a new type of pickup truck that is amazingly fuel efficient and packed with clever technologies and features. The all-new 2022 Ford Maverick is a standard five-passenger, four-door pickup truck with a full hybrid powertrain. It's built to last and can carry a 1,500 pound payload.
“Maverick's product offering is like nothing else. It's a great looking four-door truck with room for five adults, a standard full hybrid engine with city fuel economy that beats a Honda Civic, lots of towing and hauling for weekend getaways or home improvement projects, and it starts under $ 20,000 “Said Todd Eckert, Marketing Manager for the Ford Truck Group. "We think it will be interesting for a lot of people who have never thought of a truck before." Are you going to watch F shares for these reasons?
Brookfield Renewable Partners LP
Brookfield Renewable Partners (BEP) is a green energy company that owns and operates renewable energy assets. Essentially, it operates one of the world's largest publicly traded renewable energy platforms. The portfolio consists of approximately 21,000 MW capacity and almost 6,000 generation plants in North America. Last month it reported strong financial results for the first quarter.
The company had $ 242 million in cash from operations, or $ 0.38 per unit, an increase of 21% on a normalized per unit basis over the same period last year. With advanced construction and approval, the company also made progress at approximately 6,000 megawatts. In addition, the company has expanded its development pipeline by almost 4,500 megawatts.
During the quarter, the company also signed 29 contracts for around 2,300 GWh of renewable generation with customers from all major industries. Finally, BEP also says it's 1.6 billion, given the excitement surrounding the company, will you be watching BEP stock?
(Continue reading) Top Stocks To Buy Now? 5 dividend stocks to watch out for
Plug Power Inc.
Plug Power is a company that deals with the development of hydrogen fuel cell systems. Its systems are used to replace conventional batteries in electrically operated devices and vehicles. At its core, the company describes itself as the architect of modern hydrogen and fuel cell technology for good reason. It took the technology from concept to commercialization and revolutionized the material flow industry with its full service GenKey solution.
On Thursday, the company announced plans to build a green hydrogen production facility in Camden County, Georgia, to serve customers in the southeastern United States. The facility will produce 15 tons of liquid green hydrogen per day, made from 100% renewable energy, to be used as fuel for transportation applications, including material handling and fuel cell electric vehicle fleets.
Plug Power is investing $ 84 million in the facility, which is expected to create at least 24 jobs in the local community from 2022. All in all, is the PLUG share worth a look?