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What are Green Energy Stocks?

The world is slowly moving towards sustainable solutions for everything, even energy. As a result, many companies are stepping up their efforts to contribute to a more sustainable planet.

Green energy stocks represent companies involved in developing alternative technologies with renewable resources that contribute zero to very minimal towards pollution. A few of the most common and prevalent sources of green energy include sunlight, wind, and heat. Additionally, these energy sources can encompass low-impact hydroelectric sources and specific forms of biomass. Companies that aim to produce no carbon emissions using these resources while reducing fossil fuel dependence are classified as green energy companies. This sector forms a crucial part of the energy sector today, promoting sustainability and eco-friendly energy solutions.

Why invest in Green Energy stocks?

Investing in green stocks allows individuals to support environmentally responsible companies while potentially earning returns on their investments. As public awareness and concern for environmental issues grow, green stocks may experience increased demand and growth potential.

Also, the benefits of investing in Green Energy Stocks are:

• Investing in green stocks aligns with ethical and socially responsible investing principles, allowing investors to contribute to a more sustainable and equitable world.

• Green stocks can provide competitive returns as the demand for sustainable products and services increases, and companies that adopt environmentally friendly practices may experience cost savings and improved operational efficiency.

• Investing in green stocks supports companies that are actively working to reduce their environmental impact, helping to combat climate change and protect the planet’s natural resources.

• Adding green stocks to a portfolio can provide diversification benefits, as these companies may not be as affected by traditional market factors.

• Governments worldwide are increasingly supporting green initiatives through incentives, subsidies, and regulatory changes, which can benefit companies in the green economy.

Here is a list of the best Green Energy Stocks to buy now:

Sr.Company NameSymbolShare Price (31.10.24)Market Cap1Brookfield Renewable PartnersBEP$ 25.8$ 16.976 billion2Next Era EnergyNEE$ 79.09$ 162.97 billion3Canadian SolarCSIQ$ 14.14$ 942.33 million4Solar Edge TechnologySEDG$ 16.89$ 977.53 million5General MotorsGM$ 51.97$ 55.816 billion

$Brookfield Renewable Partners LP(BEP)$

Brookfield Renewable Partners invests in renewable power and sustainable solutions assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. Across its business, it leverages our extensive operating experience to maintain and enhance the value of assets, grow cash flows on an annual basis, and cultivate positive relations with local stakeholders. Their portfolio includes holdings for which they have access to a priority growth pipeline that if funded would provide them the opportunity to own a near-majority share of the business.

Their global diversified portfolio of renewable power assets, which makes up over 97 % of their business, has approximately 33,200 MW of operating capacity annualized LTA generation of approximately 94,200 GWh, and a development pipeline of approximately 200,100 MW.

Here is a glimpse into their portfolios:

River SystemsFacilitiesCapacityLTA (GWh)Storage Capacity (GWh)Hydroelectric86237825938,0147,523Wind018311,13034,9710Utility-scale solar02257,59116,5090Distributed generation & storage26,9645,7653,7415,220TOTAL887,60932,74593,23512,743

Brookfield Renewable Partners recently reported financial results for the three months ending June 30, 2024:

• Revenues were reported at $ 1,482 million, as compared to $ 1,205 million in the previous year’s same quarter.

• Net Loss was reported at $ 88 million, compared to net income of $ 151 million in the previous year’s same quarter.

• Total power generation capacity was reported at 34,189 MW, as compared to 25,859 in the previous year’s same period.

• Actual power generation was reported at 20,602 MW, as compared to 17,798 in the previous year’s same period.

$NextEra(NEE)$

NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns Florida Power & Light Company, which is America’s largest electric utility company that sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.9 million customer accounts, or more than 12 million people across Florida. NextEra Energy also owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage.

NextEra Energy reports third-quarter 2024 financial results:

• Revenues were reported at $ 7,567 million, as compared to $ 7,172 million in the previous year’s same quarter.

• Net Income was reported at $ 1,852 million, as compared to Net income of $ 1,219 million in the previous year’s same quarter.

• Earnings per share was reported at $ 1.03, as compared to $ 0.94 in the previous year’s same period.

• NextEra Energy Resources added approximately 3 gigawatts of new renewables and storage projects to its backlog, delivering another strong renewables origination quarter.

NextEra Energy Resources had a strong quarter of new renewables and storage origination. Below is the NextEra Energy Resources Development Program:

2024 – 2025 COD And Backlog2024 – 2025 Expectations2026 – 2027 backlog2026 – 2027 Expectations2024 – 2027 ExpectationsWind3.23.5 – 4.41.75.5 –  7.19.0 – 11.5Solar7.37.4 – 8.36.611.1 – 14.118.5 – 22.4Energy Storage3.02.6 – 3.53.55.2 – 7.27.8 – 10.7Wind Repowering0.60.6 – 0.90.40.6 – 1.01.2 – 1.9Total14.014.1 – 17.112.222.4 – 29.436.5 – 46.5

Renewables and storage backlog stands at more than 24 GW, which supports the company’s long-term growth expectations.

$Canadian Solar(CSIQ)$

Canadian Solar has 125G W solar module shipments and 4.5G Wh battery storage shipments. It has a Module capacity of 61 GW and expects to have a battery storage capacity of 20 GWh by 2024 December. It has a 26.3 GW project pipeline and a 56G Wh energy project pipeline of Recurrent Energy.

Canadian Solar has Active buying customers in more than 160 countries and Subsidiaries in 23 countries & regions on 6 continents. In addition to it, Canadian Solar has Over 26 manufacturing facilities in Asia & Americas.

The Company has two business segments: Recurrent Energy and CSI Solar. The two businesses operate as follows:

• Recurrent Energy is one of the world’s largest clean energy project development platforms with 15 years of experience, having delivered approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects.

• CSI Solar consists of solar module and battery energy storage manufacturing, and delivery of total system solutions, including inverters, solar system kits, and EPC (engineering, procurement, and construction) services. CSI Solar’s e-STORAGE branded battery energy storage business includes its utility-scale turnkey battery energy system solutions, as well as a small but growing residential battery energy storage business.

Canadian Solar Inc. recently announced financial results for the second quarter ended June 30, 2024:

• Net Revenues were reported at $ 1,635 million, as compared to $ 2,364 million in the previous year’s same quarter.

• Income from Operations was reported at $ 47.65 million, as compared to $ 224 million in the previous year’s same quarter.

• As of June 30, 2024, Recurrent Energy’s total solar project development pipeline was 27.4 GWp, including 1.7 GWp under construction, 4.8 GWp of backlog, and 20.9 GWp of projects in advanced and early-stage pipelines.

$SolarEdge(SEDG)$

SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, the rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.

• The Solar segment offers power optimizers, inverters, batteries, storage solutions, electric vehicle chargers, smart tracking solutions, and smart energy management software products; Monitoring platform, a cloud-based monitoring platform, that collects power, voltage, current, and system data sent from inverters and power optimizers; and MySolarEdge app, that enables system owners to track their real-time system production and household energy consumption.

• The Energy Storage segment provides lithium-ion cells and containerized battery systems (BESS) solutions for commercial, industrial, and utility markets; modules and racks; purpose-built components and solutions, and hardware and software tools; and pre and post-sales engineering support for designing, building, and managing battery and system solutions.

The company offers e-mobility products, automated machines, and UPS products; pre-sales support, ongoing training, technical support,,, and after-installation services. It sells its products through solar installers and distributors, electrical equipment wholesalers, and PV module manufacturers, as well as engineering, procurement, and construction firms.

The below chart shows the MW shipped in the past year:

MW ShippedQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024Total MW4,3243,796901946873Residential1,7251,300356302309Commercial2,5992,495545640564Utility% of Total100 %100 %100 %100 %100 %Residential40 %34 %39 %32 %35 %Commercial60 %66 %61 %68 %65 %Utility0 %0 %0 %0 %0%

Solar Energy recently reported second-quarter results for the year 2024:

• GAAP revenues were reported at $ 265.4 millionRevenues from the solar segment were reported at $ 241.2 millionRevenues from energy storage and “all other” segments were reported at $ 23.9 million

• GAAP gross margin at negative 4.1 %

• GAAP net loss was reported at $ (130.8) million

• GAAP net diluted loss per share was reported at $ (2.31)

$General Motors(GM)$

The company has said that it plans to invest $ 35 billion in electric vehicle (EV) and autonomous vehicle (AV) production through 2025. By mid-decade, GM plans to sell a million EVs a year in North America. GM has also increased its investment in AV company Cruise, buying SoftBank’s stake for $2.1 billion and pouring in another $1.4 billion. Cruise develops self-driving cars for ridesharing and delivery. The Origin is designed to operate without a human driver, as there is no steering wheel. Cruise was the first AV company to offer driverless rides in a major city: San Francisco. Adding to that, GM is also planning to be a carbon-neutral company by 2040.

General Motors recently reported third-quarter 2024 results:

• The company reported revenue of $ 48.8 billion, as compared to $ 44.1 billion during the same period last year, representing a 10.5 % appreciation.

• The company reported Net Income of $ 3.056 billion, as compared to $ 3.064 billion during the same period last year, representing a 0.3 % decline.

• Earnings per share was reported at $ 2.68, as compared to $ 2.2 during the same period last year, representing a 21.8 % appreciation

GM Secures plans to achieve renewable energy goal 25 Years ahead of initial target:

• Based on current projections, GM has reached its goal of securing enough renewable energy to power all of its U.S. sites by 2025

• As one of the earliest adopters of renewable energy among corporate purchasers, GM has already realized positive cash flows from its portfolio and expects to continue to do so

• GM’s long-term investments in local renewable energy projects support grid resiliency, as well as job growth and retention.

GM’s renewable energy portfolio now includes sourcing agreements from 16 renewable energy plants across 10 states, continuing to lead all automotive OEMs as the largest offtake of renewable power in the industry.

Source:https://elliottwave-forecast.com/stock-market/best-green-energy-stocks-buy-right-now/