Green energy stocks refer to stocks of companies that are involved in the production and distribution of clean and renewable energy. This includes companies that develop and manufacture solar panels, wind turbines, and other forms of renewable energy technology. As well as companies that provide related services such as energy storage and grid management. Green energy stocks have gained significant attention in recent years. This comes as concerns over climate change and the transition to a low-carbon economy have grown.
Investors are increasingly interested in green energy stocks as they offer the potential for strong growth opportunities in a rapidly expanding market. The renewable energy industry is expected to continue growing as governments and businesses around the world commit to reducing their carbon footprint and transitioning to cleaner sources of energy. Additionally, the increasing cost competitiveness of renewable energy technologies is making them increasingly attractive to consumers and businesses alike.
However, investing in green energy stocks can also be risky, as the industry is still evolving and subject to significant regulatory and policy changes. It’s important for investors to carefully evaluate companies in the sector, taking into account factors such as their financial health, growth prospects, and regulatory environment, in order to make informed investment decisions. Now knowing this, here are two green energy stocks to watch in the stock market now.
Green Energy Stocks To Invest In [Or Avoid] Now
- Brookfield Renewable Partners L.P. (NYSE: BEP)
- First Solar Inc. (NASDAQ: FSLR)
Brookfield Renewable Partners (BEP Stock)
First up, Brookfield Renewable Partners L.P. (BEP) is a leading renewable energy company that owns and operates a portfolio of hydroelectric, wind, solar, and energy storage assets. The company’s diversified portfolio spans North and South America, Europe, and Asia.
Last month, Brookfield Renewable Partners reported its fourth-quarter 2022 earnings results. Specifically, the company announced a Q4 2022 loss of $0.16 per share, along with revenue of $1.2 billion. For context, Wall Street’s consensus estimates for the quarter were a loss of $0.04 per share and revenue estimates of $1.1 billion. What’s more, BEP’s revenue increased by 9.6% on a year-over-year basis.
Year-to-date so far, Brookfield Renewable Partners stock has recovered by 16.47%. Additionally, during Tuesday’s late-morning trading session, shares of BEP stock are green on the day by 1.38% at $30.18 a share.
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First Solar (FSLR Stock)
Next, First Solar Inc. (FSLR) is a leading manufacturer of photovoltaic solar modules and provider of solar energy solutions. The company’s advanced thin-film solar technology is designed to deliver high efficiency and reliability, making it a popular choice for utility-scale solar projects around the world. First Solar also provides a range of integrated services, including project development, engineering, and maintenance.
Late last month, First Solar also announced its fourth-quarter 2022 financial results. In the report, the company notched in a loss of $0.07 per share and revenue of $1.0 billion for Q4 2022. This came in better than analysts’ consensus expectations for the quarter which were a loss of $0.18 per share, and revenue estimates of $989.3 million. As a result, the company also posted a 10.5% increase in revenue versus the same period, the prior year.
Moving along, since the start of 2023, shares of FSLR have continued its rally higher. Specifically, year-to-date, FSLR stock has advanced by 44.35%. Meanwhile, ahead of Tuesday’s lunchtime trading session, FSLR stock is trading up 0.25% on the day so far at $210.66 a share.
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