We know that renewable energy is a polarizing topic. But the recent Inflation Reduction Act that passed the United States Congress has an undeniable implication.

The United States is aggressively moving toward renewable energy. And it has the full backing of the Biden administration.

This means that investors need to put their personal feelings about the energy sector aside when deciding on where to invest their money. Billions of dollars are flowing into the renewable energy sector, and solar stocks will be major beneficiaries.

One sector that stands to benefit the most is the solar sector.

Several research firms forecast that the solar market will grow at a compound annual growth rate (CAGR) of more than 20% over the next five years. And Fortune Business Insights estimates that the global market will be worth $1 trillion at the end of 2028.

But this is only continuing a trend that has been in place since 2021. Solar is one of the fastest-growing sectors in the stock market. And the bullish outlook for this sector is about more than the funding the industry will receive. The Biden administration announced in June that it was suspending tariffs on solar panel components from four countries. This will be a key step in helping to untangle the supply chain for the necessary components.

This two-pronged strategy will be key to the sector achieving the Biden administration’s goal of having 45% of the nation’s energy supply coming from solar by 2050. That’s up from the 4% the sector supplied in 2020.

In this presentation, we’re highlighting seven solar stocks that stand to benefit as solar becomes an increasingly cost-effective option for consumers and for businesses.

View the 5 Solar Stocks Leading the Clean Energy Boom

When it comes to clean energy stocks, here are five companies worth considering:

1. Tesla, Inc. (TSLA): Tesla is a leading electric vehicle (EV) manufacturer and clean energy company. Known for its innovative technology and sustainability efforts, Tesla has revolutionized the EV industry and is actively involved in renewable energy solutions, including solar power and energy storage.
2. NextEra Energy, Inc. (NEE): NextEra Energy is one of the largest renewable energy companies in the world. It operates through its subsidiaries, including Florida Power & Light Company and NextEra Energy Resources. NextEra Energy focuses on wind and solar energy generation and has a strong track record of growth and sustainable energy initiatives.
3. Enphase Energy, Inc. (ENPH): Enphase Energy is a global leader in solar microinverters and energy management solutions. The company’s innovative technology enables efficient and reliable solar energy production, storage, and management. Enphase Energy’s products are widely used in residential and commercial solar installations.
4. Vestas Wind Systems A/S (VWS): Vestas is a leading manufacturer and provider of wind turbines globally. The company designs, manufactures, installs, and services wind power systems. Vestas has a strong market presence and a diverse portfolio of wind energy solutions, contributing to the transition towards renewable energy.
5. Plug Power Inc. (PLUG): Plug Power is a provider of hydrogen fuel cell systems for various applications, including forklifts, stationary power systems, and electric vehicles. The company’s fuel cell solutions offer clean and efficient alternatives to traditional energy sources. Plug Power has been a key player in the development of hydrogen infrastructure and has attracted significant attention in the clean energy sector.

Please note that investing in stocks carries risks, and it is essential to conduct thorough research and consult with a financial advisor before making any investment decisions. Market conditions and individual company performance can impact the returns on investments.

Clean Energy Industry Outlook and Stocks Worth Looking At

The clean energy industry has been experiencing significant growth and presents a promising outlook as the world transitions towards renewable and sustainable energy sources. Several factors contribute to this positive outlook, including government policies, increasing awareness of climate change, advancements in technology, and the declining cost of renewable energy solutions. Here is an overview of the clean energy industry outlook and some stocks worth considering

1. Brookfield Renewable Partners (BEP): Brookfield Renewable Partners is a leading renewable energy company that owns and operates a vast portfolio of renewable power assets, including hydroelectric, wind, solar, and energy storage facilities. The company has a global presence and focuses on long-term contracts, ensuring stable cash flows. Brookfield Renewable Partners is known for its disciplined approach to acquisitions and development projects.
2. First Solar, Inc. (FSLR): First Solar is a manufacturer of thin-film solar modules and a provider of solar energy solutions. The company’s advanced technology and vertically integrated business model contribute to its competitive advantage. First Solar has a strong track record of project development and operates globally, serving both utility-scale and commercial customers.
3. Orsted A/S (ORSTED.CO): Orsted is a Danish energy company that has transformed itself from a fossil fuel-based company to a leader in offshore wind power. The company is heavily invested in offshore wind farm development and operations, with projects across Europe, the United States, and Asia. Orsted’s commitment to renewable energy and its focus on sustainability make it an attractive choice in the clean energy industry.
4. TPI Composites, Inc. (TPIC): TPI Composites is a leading manufacturer of composite wind blades used in wind turbine systems. The company serves major wind turbine manufacturers globally and has a strong market presence. With the increasing demand for wind energy, TPI Composites is well-positioned to benefit from the growth in the wind power sector.

These are just a few examples of stocks in the clean energy industry that are worth considering. It’s important to conduct thorough research, analyze financials, and consider market conditions before making any investment decisions. The clean energy industry’s growth potential, coupled with the global shift towards renewable energy sources, makes it an attractive sector for long-term investment opportunities.