Clean energy stocks are a rapidly growing sector of the stock market. For the uninitiated, clean energy is defined as energy that comes from renewable sources, such as solar, wind, and water. Clean energy stocks encompass a wide variety of companies. This includes companies that are involved in the production and distribution of clean energy products and services. Notably, some of the more popular clean energy stocks include; Tesla (NASDAQ: TSLA), First Solar (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), and Ballard Power Systems (NASDAQ: BLDP) to name a few.
Many investors view clean energy stocks as a shrewd investment. This is mainly because they offer the potential for strong growth and high returns. Additionally, clean energy stocks tend to be less volatile than other types of stocks. As a result, this can make it an attractive option for risk-averse investors. Given the numerous benefits, it is no surprise that clean energy has become one of the hottest sectors in the stock market. If this has you interested in the clean energy sector, here are two companies to watch in the market now.
Clean Energy Stocks To Watch Right Now
1. Plug Power Inc (PLUG Stock)
Leading off the list today is Plug Power Inc. (PLUG). For starters, the company is a provider of clean, reliable energy solutions. In brief, the company designs develop, manufactures, and sells fuel cell systems for use in forklifts, automotive, and other applications. Plug Power’s products offer an environmentally friendly and cost-effective alternative to traditional combustion-based technologies. Additionally, PLUG has a growing list of customers who are using its products to power their operations. The most notable companies include Walmart (NYSE: WMT), Amazon (NASDAQ: AMZN), and Procter & Gamble (NYSE: PG).
PLUG Recent Stock News
Just today, Plug Power announced an agreement with third-party food logistics company FreezPak Logistics. Diving in, FreezePak is going to expand its operations throughout the United States, and are using PLUG’s fuel cells and hydrogen infrastructure. Specifically, Plug Power will deliver its products to nine additional sites and approximately 400 lift trucks. There was nothing disclosed about the financial terms of this new agreement.
Andy Marsh, Plug CEO, commented, “FreezPak Logistics has been a longstanding believer in Plug’s innovative technology and hydrogen fuel cells. We are thrilled to expand our partnership, which further improves the American supply chain and decreases carbon emissions.”
PLUG Stock Chart
Year-to-date PLUG stock has been beaten down by 41.54% so far. Meanwhile, as of Wednesday’s closing bell, shares of PLUG stock dropped 11.93% on the day at $16.83 a share.
2. Enphase Energy (ENPH Stock)
After that, let’s turn our attention to Enphase Energy (ENPH). Simply put, Enphase is a global energy technology company that provides smart energy solutions. Enphase offers a complete line of solar energy products, including inverters, microinverters, and batteries. Enphase also provides software and services to enable the efficient use of solar energy.
ENPH Recent Stock News
On Monday of this week, the company announced that it will expand its partnership with CREATON GmbH. In detail, CREATON GbmH is one of the leading residential roof manufacturers in Europe. The announcement reported that CREATON GbmH will now be exclusively offering Enphase© IQ™ Batteries. This is an effort to increase Enphase’s footprint in Germany, as CREATON, has multiple offices and manufacturing plants throughout Germany.
Dave Ranhoff, chief commercial officer at Enphase commented, “CREATON continues to prove its industry leadership with an innovative business model offering both roofing and construction as well as home solar and battery installation, using top products and services. Solar and battery technology is rapidly expanding across Germany and we’re seeing homeowners look to electrify their lives as gas prices continue to rise. This convenient end-to-end solution provides homeowners with an excellent experience and more control of their future energy needs.”
ENPH Stock Chart
So far in 2022, ENPH stock has outperformed the broader markets, up 31.17% year-to-date. Though, on Wednesday shares of Enphase stock closed down 3.77% on the day at $241.95 a share.