Green stocks act as a strong indicator of companies with a sharp focus on environmentally responsible practices and renewable energy sources. These stocks, often including companies operating in the solar, wind, EV and waste management spaces among others, are a key indicator of the growing emphasis on mitigating the effects of climate change and forging a more sustainable future both on a more regional level and worldwide.
With governments prioritising and promoting clean energy initiatives and work towards smoothly transitioning to a low-carbon economy, growth in this area is set to skyrocket thanks to increasing awareness and visibility as well as a shift towards sustainable practices across a variety of sectors.
Considering this, we summarise 10 of the most favourable green stocks to invest in in 2024, including GE and NetEra.
10. Fluence Energy (NASDAQ:FLNC)
A US-based company specialising in renewable energy storage solutions and services, Fluence Energy also provides AI-powered digital applications tailored to the aforementioned areas. A Siemens and AES Company, Fluence operates in more than 40 markets globally and its notoriety has secured the position of being one of the leading global suppliers of battery-based energy storage systems. Fluence is one of the foremost storage providers in the US, holding a 22% market share. With offerings in modular, scalable energy products, comprehensive service offerings, Fluence has created a vast ecosystem which is blazing a way towards renewable energy and a more sustainable future.
9. Clearway Energy (NYSE:CWEN)
One of the largest renewable energy owners in the US, Clearway Energy has 5,500 net MW of installed wind and solar generation projects. Its portfolio of more than 8,000 net MW of assets includes around 2,500 net MW of environmentally-sound, highly efficient natural gas generation facilities. The company also possesses a varied collection of contracted assets in both renewable and traditional power generation as well as thermal infrastructure. Its offerings have the capability to cater to in excess of two million residences and enterprises across the US.
8. SolarEdge Technologies (NASDAQ:SEDG)
Israeli solar company SolarEdge was established in 2006 and provides the likes of solar inverters, optimisers and energy management systems. With the motto ‘powering people’s lives around the world’, SolarEdge has installations in more than 140 countries, employs almost 6,000 people and ships 51.7GW worldwide. SolarEdge is desirable due to its status as the company that developed a DC optimised inverter system and the first to successfully commercialise Power Optimisers — devices that offer module-level maximum power point tracking, before feeding back the electricity generated into an inverter.
7. Constellation Energy (NASDAQ:CEG)
Constellation specialises in providing electric power, natural gas and energy management services across the US. The company celebrates 25 years of business in 2024, it now has more than two million customers and is currently expanding the nation’s largest carbon-free nuclear fleet after the acquisition of an ownership stake in the South Texas Project Electric Generating Station. Constellation’s renewable energy supply solutions include Constellation Offsite Renewables (CORe), solar projects and Renewable Natural Gas (RNG).
6. Enphase Energy (NASDAQ:ENPH)
Specialists in clean energy technology, Enphase Energy provides a range of products including solar micro-inverters, EV charging stations and battery energy storage solutions. The market leader has products in more than 140 international markets, solidifying its position as one of the best clean energy stocks to buy. Motivated by its motto ‘advancing a sustainable future for all’, Enphase has transformed the solar industry since it was established in 2006, thanks to its microinverter technology which turns sunlight into a safe, reliable, resilient, and scalable source of energy. Its intelligent technology is regarded as some of the industry’s best-performing clean energy systems.
5. First Solar (NASDAQ:FSLR)
Rounding up our top five is First Solar, a US-based company specialising in the manufacturing of solar panels and offering utility-scale PV power plants. The leading American solar technology company is a global provider of responsibly produced, eco-efficient solar modules advancing the fight against climate change, which, it says, is leading the world’s sustainable energy future. First Solar is also celebrating 25 years in business in 2024, and now is advancing the fight against climate change. It is the only company in the world’s 10 largest solar manufacturers that is US-headquartered but does not manufacture in China.
4. PG&E (NYSE:PCG)
PG&E supplies natural gas and electric services to a vast customer base exceeding five million in California, USA. Founded in 1905, PG&E has been a major player in shaoping the development of the state's energy infrastructure over the last 120 years. It is working to navigate industry-wide challenges by addressing environmental concerns in its service areas. With this, PG&E has a variety of initiatives to promote sustainability and environmental responsibility thanks to its focus on innovation. The company continues to invest in modernising its infrastructure to meet the evolving energy needs of its customer base.
3. NextEra Energy (NYSE:NEE)
In at number three is NextEra Energy. The company is prominent in the green energy space across the world, thanks to its 67GW of generation capacity, a significant portion of which derives from renewable sources. It has set ambitious targets for itself and its operations, with a ‘Real Zero’ plan in place which aims to omit all its carbon emissions by 2045. For three decades now, NextEra has pioneered universal solar and has positioned itself as an energy storage leader. The American energy company is one of the world’s largest wind and solar energy generators and has made investments in emissions-free wind and solar generation, innovative battery storage technology, low-emissions natural gas generation, safe and emissions-free nuclear power, industry-leading energy efficiency programs and transmission lines.
2. General Electric (NYSE:GE)
Falling short of the number one spot is GE. With a history spanning back to 1892, the brand is a prominent American multinational conglomerate that operates across various divisions, encompassing power and renewable energy, as well as aerospace, digital industry, additive manufacturing, venture capital and finance. Across its 130 years, GE has been at the forefront of innovation, with the brand saying ‘GE has invented the future of industry’. As a pioneer in technology, a lot of which has been a catalyst for world-transforming changes, it is renowned for its commitment to research and development, which has impacted how it has pioneered ground-breaking technologies that enhance efficiency and sustainability.
1. Tesla (NASDAQ:TSLA)
Topping this week’s Top 10 is EV specialists Tesla. The multinational also has stationary battery energy storage units, solar panels, solar shingles and associated products and services as strings to its bow, and is spearheaded by entrepreneur Elon Musk. The company was founded in 2003 and has paved the way to a new era for the automotive sector thanks to its cutting edge EVs thanks to their performance and lack of major environmental impact. Outside of the vehicle space, Tesla also makes waves in the solar and energy storage fields, contributing to a greener future. The company has a clear commitment to clean technology, with its focus on autonomous driving helping reshape the automotive industry and inspire global awareness about the importance of renewable energy.
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