Crisis Will Lead to Opportunity in Renewables

With the world fighting to go green, it’s a good idea to have exposure to renewables, like First Solar (FSLR), Sunrun (RUN), and uranium stocks, like Cameco (CCJ).

According to the International Energy Agency, renewable energy sources will account for over 42% of global electricity generation, with wind and solar doubling to 25%. In addition, the agency says the “World added 50% more renewable capacity in 2023 than in 2022 and next 5 years will see the fastest growth yet.”

Two, when and if the Federal Reserve does cut interest rates, renewable energy projects could see further upside. You see, when interest rates get too high, financing gets more expensive and margins suffer. Three, for the world to meet the net-zero scenario, BloombergNEF says energy investments would have to average about $4.7 trillion a year between now and 2030.

Helping, 116 countries recently signed the Global Renewables and Energy Efficiency Pledge. That pledge aims to “triple global renewable generation capacity to at least 11,000 gigawatts and to double the global average annual rate of energy efficiency improvements from around 2% to more than 4% every year until 2030.”

While many top renewable stocks are down in the dumps at the moment, keep an eye on them all. Once the Fed does start cutting rates –if they start cutting rates- renewable energy stocks should be one of the top beneficiaries.

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