With the world fighting to go green, investors should pay close attention to renewables.
In fact, thanks to wind and solar, about 30% of the world’s electricity was produced by renewables in 2023, with the trend only likely to strengthen. Even better for climate change fighters, the world is reaching a “crucial turning point” with clean energy, as noted by the Global Electricity Review published by climate think tank, Ember.
The report also says “global fossil fuel generation will fall slightly in 2024, before experiencing much bigger declines in subsequent years. It’s a significant step toward the world reaching 60% renewable electricity by 2030, which is critical to meeting global climate goals, said Dave Jones, global insights director at Ember,” as noted by CNN.com.
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That being said, we can look at stocks such as: “As the demand picture continues to improve, management discussed the potential for adding incremental factories, which we view as a key catalyst,” as quoted by CNBC. Wells Fargo also upgraded the solar stock to overweight, with a $250 price target. |
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ETF: First Trust NASDAQ Clean Edge Green Energy Index Fund (SYM: QCLN) We can also jump into rebounding shares of the exchange traded fund (ETF), First Trust NASDAQ Clean Edge Green Energy Index Fund (SYM: QCLN). With an expense ratio of 0.58%, it holds 56 green energy stocks including First Solar, Enphase Energy, Albemarle, Tesla and Brookfield Renewable. |
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