Summary: The renewable energy sector is seeing remarkable growth thanks to the growing awareness of the need for more sustainable energy solutions. In this guide, we explore the 5 best wind power stocks to buy in 2024 for investors seeking exposure to a promising industry and long-term sustainability. To buy the wind power stocks on our list, investors can open an account at an online investment platform such as eToro.
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What are wind power stocks?
Wind power stocks are shares in companies involved in the generation and distribution of wind energy as well as wind energy solutions and technology, such as wind turbines. Since we are shifting towards cleaner and more sustainable energy solutions, wind power stocks allow investors to participate in the growth and profitability of the expanding renewable energy sector and satisfy their environmentally conscious investment (ESG) needs.
5 best wind power stocks to buy in 2024
To help you start investing in wind power, we have a list of 5 best wind power stocks worth checking out this year. These include:
- Dominion Energy (NYSE: D);
- NextEra Energy (NYSE: NEE);
- Vestas Wind Systems (OTC: VWDRY);
- Clearway Energy (NYSE: CWEN);
- General Electric (NYSE: GE).
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1. Dominion Energy (D)
Dominion Energy is one of the major energy producers and transporters in the United States, being a DJUA and S&P 500 constituent. It engages in the production and distribution of wind energy solutions and focuses on corporate and service companies and non-regulated retail energy marketing operations. Notably, the company also has a long history of paying dividends (5.85% as of February 2024), which makes it a solid choice for long-term ESG investors.
Dominion Energy stock price today
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2. NextEra Energy (NEE)
NextEra Energy is another prominent player in the renewable energy sector, ranking among the world’s largest wind power producers with almost 60 gigawatts (GW) of operational wind generation capacity. NextEra Energy is also actively involved in developing new wind energy projects, being one of the battery storage pioneers.
NextEra Energy stock price today
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3. Vestas Wind Systems (VWDRY)
Vestas is one of the bigger names in the European market. The company is involved with a whole spectrum of wind and renewable energy projects, designing, manufacturing, and installing its solutions in almost 100 countries, as well as maintaining service contracts for over 170 GW of wind power. While its portfolio is exhaustive, Vestas dedicates most of its attention to turbines.
Vestas Wind Systems stock price today
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4. Clearway Energy (CWEN)
Clearway Energy boasts a portfolio encompassing wind, solar energy, and natural gas projects, as well as an appealing dividend yield (6.61% as of February 2024) made possible by Clearway’s strategy revolving around acquiring already operational wind and solar power plants from developers. In addition, the company has solid backing from its parent company, Clearway Energy Group. As such, Clearway is potentially a solid buy for ESG investors seeking passive income.
Clearway Energy stock price today
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5. General Electric (GE)
General Electric directs its focus toward the aviation, healthcare, and energy industries, but that does not mean its presence in the wind power sector is lacking. Indeed, it boasts a portfolio of almost 50,000 units worldwide and has a stake in an expanding number of both onshore and offshore wind development projects, promising consistent growth in the foreseeable future.
General Electric stock price today
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Where to buy wind power stocks
To invest in wind power stocks, you can register an account with an online brokerage platform.
Our preferred and recommended brokerage is eToro, a widely-used platform boasting over 30 million users and a range of robust investing features, such as:
- Commission-free stock trading;
- Access to over 2,000 stocks from 17 different exchanges;
- The option to purchase fractional shares;
- Charting tools;
- A user-friendly platform that simplifies the trading experience.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Pros and cons of investing in wind power stocks
Pros
- Industry growth: As we shift towards clean energy, wind power companies are positioned quite well to profit from the growing demand for greener energy solutions;
- Environmentally conscious investing: Investing in wind power contributes to a reduction in carbon emissions;
- Government support: Many governments offer incentives for renewable energy projects. For example, the federal US government recently approved Dominion Energy’s offshore wind projects;
- Dividends: Some wind energy companies pay solid dividends, such as Clearway Energy (NYSE: CWEN) and NextEra Energy (NYSE: NEP).
Cons
- High capital demands: Wind farms and turbines require substantial upfront investments;
- Technological risks: There are risks associated with the development and maintenance of wind farms, and mistakes can be costly;
- Intermittent energy source: Wind power is a highly intermittent energy source as it is not available on demand since wind speed and air density are not under our control.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about investing in wind power stocks
How to invest in wind power stocks?
To invest in wind power stocks, you can make an account on brokerage platforms like eToro.
Are there any wind power penny stocks?
Yes, there are wind power penny stocks, for example, Brookfield Renewable Partners (BEP).
Where to invest in wind power stocks?
You can invest in wind power stocks on investment platforms such as eToro.
What are the best wind power stocks to buy right now?
Some of the best wind power stocks right now are Dominion Energy (NYSE: D), NextEra Energy (NYSE: NEE), Vestas Wind Systems (OTC: VWDRY), Clearway Energy (NYSE: CWEN), General Electric (NYSE: GE).
What is the best wind power stock to buy?
Finding the best wind power stock hinges on your personal preferences and investment objectives.
How do I buy wind power stocks?
You can buy wind power stocks through online brokerage platforms such as eToro.
Do wind power companies pay dividends?
Some wind power companies pay dividends, for example, Clearway Energy (NYSE: CWEN) and NextEra Energy (NYSE: NEP).
Why invest in wind power stocks?
Wind energy is emerging as a crucial renewable energy player, mitigating carbon emissions and addressing the enduring challenges of climate change. As such, the sector is poised for potential growth in the coming years.
How to evaluate wind power stocks?
To evaluate wind power stocks, keep an eye on revenue growth, profitability, and factors like earnings Per Share (EPS) and Price-to-Earnings (P/E) ratios. A rise in revenue and high margins signal a robust market presence, while capacity expansion plans and a solid project pipeline indicate future growth potential. Additionally, be mindful of government policies and contracts supporting the renewable energy sector, as they can significantly impact investment outcomes.
