Solar stocks have returned nearly 14 times more than the market in 2020. This simple statistic seems to make a clear case for investing in renewables, but studies indicate that the level of investment in this sector is relatively low.
Renewable energy could power the world by 2050 as switching to renewable energy could prevent 4 to 7 million deaths from air pollution alone annually worldwide
New-age technology today has made it possible to reduce dependency on polluting fossil fuel through an unlimited power source — the sun.
Furthermore, renewable energy stocks cover the gamut, from solar to wind to the ocean’s currents.
Biden has made clear that his government plans to invest $2 trillion in the sector over the next four years, with a loftier goal of making America a net-zero-emissions country by 2050.
We present to you four stocks from this sector that are likely to make waves at the stock exchange this year
1. TPI Composites.
Shares in wind blade manufacturer TPI Composites ( TPIC) soared 21.5% in November riding on the back of an excellent set of third-quarter results. It posted a net profit of over $42m in the third quarter of 2020, compared with a loss of almost $5m in the same period last year.
The company reported increased output, compared with the same period last year, driven by demand in the US and emerging markets. The company expects net sales for the next quarter to be $435m to $455m, with the full-year sales to be in the $1.64bn to $1.66bn range
At a price of below $ 65, it is the investment of the future.
2.Daqo New Energy Corp.
Shares of Daqo New Energy Corp. (DQ), a China-based manufacturer of polysilicon for the global photovoltaic or PV industry hit a new 52-week high in Dec of $61.49 this year despite no company-centric news.
Daqo New Energy is still trading at a fairly cheap price. As per experts’ valuation, the intrinsic value for the stock is around $90 which is above what the market is valuing the company at the moment.
This indicates a potential opportunity to buy low.
Sunrun ( RUN) is the largest installer and owner of rooftop solar systems in the U.S.
It installs and owns about 20% of all the solar systems currently on U.S. homes.
The stock is likely to get a thrust from a potential extension of the solar investment tax credit of 26% for residential and commercial property installations, which will be very much in the line under a Biden administration.
This stock isn’t for the faint of heart. Shares have jumped 317% through early December, and it’s up more than 900% over the past three years.
At a high price of nearly $ 100, it is looking to scale up in unchartered territories
One stock that might be an intriguing choice for investors right now is Ameresco, Inc. (AMRC)
Ameresco Inc provides energy efficiency solutions for facilities in North America and Europe. It details projects that reduce energy and also focuses on the operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities, generating a billion dollars in revenue.
Ameresco’s earnings per share growth have been levitating higher signaling good business momentum.
For investors interested in companies with EPS growth, the investment is definitely worth under $ 65 per share.
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