Companies and governments worldwide invest significant money into sustainable, clean energy sources. The primary recipients of this money are manufacturers and producers that create technology to fuel this evolution. This in turn leads to some incredible renewable energy stocks.
The three stocks on this list are leading the charge and making considerable investments. This position themselves at the forefront of the renewable energy market. Countries and large corporations have set ambitious goals for their carbon-free plans. Furthermore, there's no better time to capitalize on the trillions of dollars that will flood through clean energy.
We'll detail what these energy producers have to offer, their plans for growth, and their expected income. This can show investors some fantastic returns in the years to come.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Renewable Energy Stocks to Buy: First Solar (FSLR)
Source: IgorGolovniov / Shutterstock.com
First Solar (NASDAQ:FSLR) is a leading producer of solar panels worldwide. Its unique thin-film semiconductor cadmium telluride design gives its panels a distinctive edge for utility-scale solar-powered projects.
This uniqueness has certainly allowed First Solar to stand out. Many of its primary competitors have suffered in price performance, while First Solar remains stable. In addition to price, First Solar has also shown promising strides in EPS growth. The company beat estimates last year and increasing guidance from $13 to $14 per diluted share.
First Solar has an excellent means of capitalizing on the increasing demand for solar panels and power. Last year alone, First Solar made massive investments in this purpose. This included a $1.1 billion investment in a manufacturing facility in Louisiana. This move boosted the company's capacity by 3.5 gigawatts of energy.
First Solar is a great buy for this year as they have predicted big jumps in earnings. The company also has solid financial backing to fund its aggressive expansion to capitalize on the growing solar power market.
Brookfield Renewable Partners (BEPC)
Source: Piotr Swat / Shutterstock
Brookfield Renewable Partners (NYSE:BEPC) has a substantial share of the market's clean energy supplier capacity. They achieve this with more than 30 gigawatts of power distributed throughout its diverse portfolio of renewable sources.
The company provides hydroelectric, solar, and wind energy worldwide, typically through contracts with other companies. These contracts and continuously expanding assets have allowed Brookfield to generate steady growth for returns. This has increased dividend payouts at around 6% yearly for more than 10 years.