The entire world is gradually shifting away from the use of fossil fuels and toward the production of renewable and sustainable energy sources. This is occurring in part as a result of heightened environmental awareness and in part as a transition away from fossil fuels that have been accelerated by the war in Ukraine.
Currently, the world’s demands for energy can not be satisfied by renewables; yet, the International Energy Agency (IEA) expects that 90% of global energy production will come from renewables by 2050.
Top renewable stocks
Tesla (NASDAQ: TSLA) came in at number 1 receiving 7.87 million searches globally each month on average. Besides being one of the most popular electric vehicle (EV) producers, Tesla also has a renewable energy offering combining solar panels, solar roof tiles, and renewable energy storage solutions.
Gevo (NASDAQ: GEVO) came in second with 425,000 searches worldwide each month. This Colorado-based firm is focused on renewable hydrocarbons, which produce fuel through its ‘circular economy’ where the carbons in the atmosphere are used to grow crops for livestock feed. Subsequent starchy leftovers are then used to make isobutanol, which ends up as liquid hydrocarbon fuel when the process is finished.
Plug Power (NASDAQ: PLUG) took third place, receiving 319,000 searches per month. Plug focuses on green hydrogen through solar, wind, and hydroelectric power, which in turn powers the electrolyzers used for splitting oxygen and hydrogen. Subsequently, hydrogen is used to power fuel cells in EVs and heat homes and businesses.
Other notable mentions from the research included Sunrun (NASDAQ: RUN), which took fourth place with 54,000 monthly searches, followed by Bloom Energy (NYSE: BE) in fifth place with 49,000 monthly searches.
With 46,000 monthly searches, SunPower (NASDAQ: SPWR) came in sixth, followed by Cielo Waste Solutions (CVE: CMC), with 41,000 monthly searches in seventh place. SolarEdge Technologies (NASDAQ: SEDG) was in eighth place with 35,000 monthly searches, followed by NextEra Energy (NYSE: NEE) with 32,000 monthly searches. Last but not least, in tenth place was Vestas Wind Systems (CPH: VWS) with 28,000 monthly searches.
The future is now
Renewable energy stocks, for the most part, have had a solid showing in 2022 in terms of stock performance. There were legislative hurdles, which they had to overcome, but as they put that behind them, most of them are in the green for the year.
Overall, as predicted by IEA, renewables will have a place in the global economy, and their importance will keep increasing as time passes, creating value for the globe, the environment, and finally for the shareholders.
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