What are the Top Renewable Energy Utilities?

PUBLISHED Dec 29, 2022, 10:44:19 PM        SHARE

imgTobi Opeyemi Amure

Renewable energy will replace carbon-based energy due to its eco-friendliness. Renewable energy utility companies have invested millions in recent years, which is anticipated to climb. One of the best ways to invest in green energy utilities is through the stocks of a renewable energy company.

If you want to add stocks from utility companies with the most renewable energy, read this article until the end.

7 renewable energy stocks to buy

Looking into 2023 and the future, here are seven renewable energy stocks with potential that you should consider:

  • First Solar Inc. (FSLR)
  • NextEra Energy Inc. (NEE)
  • Brookfield Renewable Partners LP (BEP)
  • Solar Edge Technologies (SEDG)
  • Iberdrola SA
  • Enphase
  • Vestas Wind Systems A/S (VWDRY)

Renewable utilities

Renewable utilities are inexhaustible natural utilities such as solar, wind, and water. Renewable utilities are essential for providing eco-friendly services required for socio-economical development. These services include electricity, water utilities, and other forms of energy.

Why invest in clean energy stocks?

In the past, energy from renewable sources like wind, sun, and water has only added a small amount to the total electricity produced. Even so, climate change is forcing institutions to think about what they can do to lower their carbon footprint. Climate change is getting worse, which has sped up the adoption of renewable energy sources and made them a more attractive investment option.

However, helping the environment is one of many reasons to think about adding renewable power to your portfolio. Investing in renewable energy sources is an excellent way to spread your money. When prices for oil and other traditional energy sources are going up and down wildly, investments in renewable energy sources could help keep things stable.

Also, renewable energy costs are decreasing, attracting both customers and investors. Solar panels and the electricity they make price less than they used to. Wind power is being used increasingly, becoming one of the most cost-effective ways to make clean energy.

Top 10 renewable utilities (Solar & Wind)

Many renewable energy companies currently provide electric utilities using solar and wind. Here are the top renewable energy utilities you should consider investing in their stocks.

1. NextEra Energy, Inc.

NextEra Energy, Inc. is an American electric power company that serves retail and wholesale clients across the continent. The firm's power plants produce energy from various sources, including wind, solar, and natural gas. NextEra is the largest renewable energy utility in the world, having more wind and solar power than any other company in the world. The company's stock is worth $166.94 billion and trades an average volume of $6 million daily.

2. Iberdrola SA

Iberdrola is a multinational electric company based in Spain. The company makes electricity, sends it to different places, and trades it. It focuses on clean energy, like onshore and offshore wind, solar photovoltaic, and battery storage. Iberdrola's stocks have a total market cap of $74.7 billion and a trading volume of $13.99 million.

3. Orsted A/S

Orsted, headquartered in Denmark, is a global renewable energy company specializing in electricity production. Offshore wind farms are what this firm specializes in building and managing. Orsted A/S stock has a market cap of $37.4 billion and an average trading volume of $55,000.

4. Enphase Energy, Inc.

Enphase Energy, Inc. is one of the largest renewable energy utilities in the United States. They design, develop, manufactures, and sell home energy solutions worldwide. With its ground-breaking microinverter technology, Enphase completely revamped the solar business by transforming sunlight into a secure, dependable, resilient, and scalable energy source. The company's stock is worth $36.32 billion, with a daily trading volume of $3.38 million.

5. Vestas Wind Systems A/S

Vestas Wind Systems is a Danish wind turbine producer, retailer, installer, and servicer. The company employs over 25,000 people globally, including in the United States, Australia, China, Brazil, Poland, and the United Kingdom. The company's stock has a total market cap of $29 billion and a daily average trading volume of $1.98 million.

6. First Solar, Inc.

First Solar, Inc. is a prominent provider of solar photovoltaics and other solar energy products worldwide. The company's main product is solar modules, which are used to transform solar energy into usable power. The company has a total market cap of $15.58 billion and trades an average volume of $3.07 million daily.

7. SolarEdge Technologies, Inc.

SolarEdge Technologies, Inc. is a global leader in designing, developing, and selling direct current optimized inverter systems for solar photovoltaic installations. The company is divided into five divisions: solar, e-mobility, energy storage, critical power, and automation machines. SolarEdge Technologies' SEDG has a total market cap of $15.42 billion and an average trading volume of $914,000 daily.

8. Siemens Gamesa

Siemens Gamesa is a wind engineering company based in Spain. The renewable energy utility company sells both onshore and offshore wind turbines. They also sell turbine gearboxes and off-grid systems and offer repair and maintenance services. The company's stock has a total market cap of $13.1 billion and a daily trading volume of $2.37 million.

9. Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P. is a renewable energy company that operates renewable energy plants in various countries worldwide. The firm uses multiple technologies, including hydropower, wind, and solar, to produce electricity. Brookfield Renewable Partners L.P stocks are worth $6.9 billion in market cap and have a daily trading volume of $293,825.

10. Jinko Solar

Jinko Solar is a solar power company based in China that produces solar cells and modules. The company also offers services for putting solar systems together. Customers in the U.S., Europe, Asia, Africa, and Latin America buy products from Jinko. Their stocks have a market cap of $2.08 billion and an average trading volume of $1.06 million.

The top renewable energy stocks should generate strong returns for investors.

Coal, natural gas, and other traditional energy sources are being phased out and cost more than renewables. More renewable energy companies would build green energy utility infrastructures such as wind turbines, solar panels, biomass, waste-to-energy converters, and hydropower plants. Therefore, investing in renewable energy stocks can be an excellent addition to your portfolio.

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