Search a ticker

Categories
Energy Stocks Featured Investing Stock Market Today Stocks to Watch

Best Stocks To Buy During A Recession? 5 Renewable Energy Stocks To Watch

Could the current energy crisis benefit the renewable energy sector?

best stocks to buy during recession

5 Renewable Energy Stocks To Watch Today

Talks of a global energy crisis have been heating up around the world. And oil prices have remained elevated in recent months, despite concerns that a potential recession could reduce demand. Therefore, alternatives such as renewable energy stocks could be in focus in the stock market. Regardless of the current crisis, renewable energy has been gaining traction over the past few years. For instance, Germany plans to spend about $3.7 billion to support international partnerships in areas of green hydrogen. This is part of the country’s decarbonization plans and accelerates its energy transition. 

Elsewhere, Bank of America (NYSE: BAC) also struck a deal with Constellation Energy (NASDAQ: CEG) last month. The 15-year contract will allow the bank to buy power and project-specific renewable energy certificates from a 160-MW portion of the Mammoth Central solar project in Indiana. Ultimately, this will help Bank of America to cover approximately 17% of its global electricity consumption with solar power. So, it would not be surprising if investors are looking at the renewable energy sector favorably right now. Having said that, here are some of the top renewable energy stocks in the stock market today. 

Renewable Energy Stocks To Buy [Or Sell] Today

NextEra

First, let us look at one of the leading clean energy companies in the world, NextEra. Based in Florida, the company owns Florida Power & Light Company, the largest vertically integrated rate-regulated electricity utility in the U.S. With this, the company serves more than 5.7 million customer accounts and 12 million residents across Florida with clean, and affordable electricity. However, NEE stock has been trading sideways over the past year. Could the stock close the second half of the year strongly as the demand for alternative energy continues to rise? 

In June, NextEra announced Real Zero, the most ambitious carbon emissions-reduction goal ever set by an energy producer. The company will be committing to eliminating carbon emissions from its operations by no later than 2045. All this while leveraging low-cost renewables to drive energy affordability for customers. Zooming out, this development would be beneficial for both the company and its customers long-term. With that in mind, should investors be keeping a closer tab on NEE stock?

Source: TD Ameritrade TOS

Read More

Canadian Solar

Following that, we have the solar power and battery company, Canadian Solar. Put simply, the company is a provider of solar power products, services, and system solutions with operations all around the world. Its products include solar ingots, wafers, cells, modules, and others. On a sense of scale, Canadian Solar has successfully delivered more than 71 GW of premium-quality, solar photovoltaic modules to customers across the world in the past two decades. 

Now, the company does not seem to be slowing down any time soon. In fact, Recurrent Energy, a wholly-owned subsidiary of Canadian Solar, announced in June the acquisition of two standalone energy storage projects from Black Mountain Energy Storage. Moving forward, these projects can store up to 200 MWh of energy each. They will provide dispatchable and reliable power to the grid. With the renewed focus on the sector, could CSIQ stock be a viable long-term investment?

Source: TD Ameritrade TOS

Plug Power

Plug Power is a provider of hydrogen fuel cell turnkey solutions. As presently constructed, Plug Power focuses on proton exchange membrane (PEM), fuel cell and fuel processing technologies, and fuel/battery hybrid technologies. Aside from that, the company also manufactures and sells fuel cell products to replace batteries and diesel generators in stationary backup power applications. PLUG stock has been under pressure for most of the year. Could things be turning around soon?

Last month, the company announced that it will build a 35-tons-per-day green hydrogen generation plant at Port of Antwerp-Bruges in Belgium. It plans to build a 100-megawatt green hydrogen plant, using its own electrolyzer and liquefaction technology. With this, Plug will produce up to 12,500 tons per year of liquid and gaseous green hydrogen for the European market. Looking at the larger picture, this would likely help with the energy crisis in Europe that resulted from geopolitical risks. With that in mind, would you consider adding PLUG stock to the top of your watchlist?

Source: TD Ameritrade TOS

Solaredge

Another top renewable energy company that often flies under the radar is Solaredge. In essence, the company offers an inverter solution for a solar photovoltaic system. Some of its notable products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions, and SolarEdge Monitoring Software. The first half of the year has been packed with exciting developments for the company. In May, SolarEdge announced the launch of SolarEdge Home at Intersolar 2022 in Munich. This is the company’s innovative home energy management solution that enables homeowners to optimize their solar energy usage. 

Furthermore, the company also announced the opening of “Sella 2” in Eumseong Innovation City of Chungcheongbuk-Do, South Korea. This is a two gigawatt-hour battery cell manufacturing facility that will likely support the growing needs for battery storage. Once operational, the Sella 2 will allow SolarEdge to have its own supply of lithium-ion batteries. Also, it will boost the infrastructure to develop new battery cell chemistries and technologies. All in all, there appear to be reasons for optimism around the company. Thus, should more investors be adding SEDG stock to their watchlist?

Source: TD Ameritrade TOS

[Read More] Best Oil Stocks To Buy Right Now? 5 For Your Late June 2022 Watchlist 

TotalEnergies

Last but not least, we have TotalEnergies. In detail, the company is a global multi-energy producer. Its businesses involve oil and biofuels, natural gas and green gases, renewables, and electricity. With more than 100,000 employees around the globe, the company is committed to energy that is ever more affordable, cleaner, and more reliable. Impressively, TTE stock has risen more than 17% over the past year.

Last month, the company entered into an agreement with Adani Enterprises Limited to acquire a 25% interest in Adani New Industries Limited (ANIL). Pushing ahead, ANIL will be the exclusive platform of TotalEnergies for the production and commercialization of green hydrogen in India. Both companies complement each other in many ways and will likely enable the lowest green hydrogen cost to consumers. As it stands, ANIL targets the production of one million metric tons of green hydrogen per year by 2030. All things considered, would TTE stock be a top renewable energy stock to watch?

Source: TD Ameritrade TOS

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!

By Brett David

Brett David is a digital marketing and finance professional for nearly 10 years now and a contributing author for StockMarket.com. His passion for digital marketing and the stock market began after graduating with a B.S.B.A in business administration and finance. After completing college, he went on to becoming an entrepreneur in the marketing and finance space, which led to becoming a contributor to outlets such as ThriveGlobal.com, MarijuanaStocks.com, MarketingAgency.com and SearchEngineWatch.com.

Brett loves the ability to deliver to his readers engaging and educational content that can be easily consumed by the reader. He enjoys writing about a wide variety of companies ranging from blue-chip stocks to the undervalued small and micro cap stocks. His favorite stock market sectors today to write about are: Tech, Cannabis, Mining, Biotech, and TMT.

Brett has worked with hundreds of publicly traded companies on increasing their digital footprint and corporate outreach since 2013.

You can find Brett most of time digging through corporate filings conducting fundamental analysis or at an industry conference looking for the next big trend or company to hit the street. His digital marketing experience gives a competitive edge over other contributing authors by allowing him to see and analyze trends faster than the next person.

Brett, a South Florida native, enjoys spending time with his wife and son outdoors, and is an avid basketball and MMA fan.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments