4 Top Renewable Energy Stocks to Watch in February 2022

Should investors watch these top renewable energy stocks now?

For some, renewable energy stocks are among the most interesting sectors to consider in the stock market today. Why? Well, quite simply, this part of the energy industry is new but necessary, in theory. As a result, this would be due to the ongoing climate crisis. As the coronavirus pandemic continues to grab headlines around the world, climate change remains a pressing issue. In order to combat this problem, more and more governments and companies are turning to leading producers of renewable energy. Likewise, it wouldn’t surprise me to see investors doing the same in the stock market now.

Overall, this would be especially the case as markets continue to stabilize after a bumpy January. For this reason, investors might look for stocks with longer-term growth potential. This is where the increasingly important renewable energy industry comes into play. Take First Solar (NASDAQ: FSLR) and Daqo New Energy (NYSE: DQ) for example. Both companies are sitting on stock gains of more than 100% since their pandemic-era lows. Even today, Daqo, in particular, is seeking to raise $1.7 billion for a new production facility in Inner Mongolia through its China-listed subsidiary. Overall, renewable energy companies continue to work hard to expand their offerings. If you want to bet on the next frontier of power generation, here are four main renewable energy stocks to watch in the stock market this week.

Renewable Energy Stocks to Watch Today

Enphase Energy

Phase is a renewable energy company that designs and manufactures home energy solutions. It is a global energy technology company and also the world’s leading supplier of microinverter-based solar storage systems. With its smart and easy-to-use solutions, the company connects solar generation, storage and energy management into one smart platform. Enphase’s semiconductor-based microinverters convert energy at the individual solar module level and bring a systems approach to solar energy management.

On January 27, 2022, the company announced a partnership with Semper Solaris, one of the nation’s leading home solar and battery contractors. The two companies will focus on deploying Enphase Energy Systems, powered by IQ microinverters and IQ batteries, across the state of California. Semper Solaris is one of the fastest growing solar, home battery and roof contractors in the United States. The partnership comes as policymakers increasingly seek to reduce peak electricity demand through energy tariffs such as hourly rates and grid service programs. With this news, is ENPH stock worth watching today?

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sunrun

Following this, we have sunrun, a provider of residential solar panels and home batteries. The company says it is building the future of the power grid. Through Sunrun’s network, consumers will have access to affordable, decentralized, decarbonized and democratized clean energy. It also indicates that the residential solar market is massive and under-penetrated. So much so that it is estimated that there will be an annual growth of the industry of 15% for the next 10 years.

Recently, the company announced that it had withdrawn its $250 million recourse loan facility and put in place a larger $425 million facility on improved terms and longer terms. “We are pleased to increase the size of our recourse loan facility, to support our continued growth while improving terms to reflect the strength of our asset base and underlying business,” said Tom vonReichbauer, chief financial officer of Sunrun. “Our continued strong execution in capital markets positions us well to take advantage of growth opportunities and deliver value to our clients and financial partners.” That being said, is RUN stock a watch right now?

RUN stock
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Brookfield Renewable Partners

Brookfield Renewable Partners is a renewable energy company that is also one of the largest publicly traded energy platforms in the world. Its portfolio is huge and consists of hydro, wind, solar and storage facilities across the world. It has over 50,000 megawatts in the development pipeline. On January 26, 2022, the company announced some exciting news.

Diving in, it announced it had acquired clean energy developer Urban Grid and its portfolio of high-quality projects comprising approximately 13,000 megawatts of utility-scale solar and 7,000 megawatts of energy storage capacity. for $650 million. The addition of the Urban Grid projects approximately triples Brookfield’s US development pipeline to approximately 31,000 megawatts of capacity. All things considered, are BEP stocks worth investing in?

BEP Stock Chart
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Plug hole

When it comes to betting on new areas in the field of renewable energy, investors can consider Plug hole. In short, the company is primarily focused on the development of hydrogen fuel cell systems. The likes that ideally serve to replace conventional batteries in electrical equipment. For one, Plug Power doesn’t seem to be sitting idly by now. Last month, the company made two notable announcements. For starters, Plug Power is eyeing massive growth financially in 2022. According to CEO Andrew Marsh, Plug Power is targeting revenues totaling $900 million for the year. It would also be in line with the company’s goal of becoming the largest producer of green hydrogen in the world. Even now, Plug Power is actively expanding its presence in global markets, gathering nearly 370,000 square feet of manufacturing space.

Not to mention that the company is currently working with some of the biggest names in the retail scene. This includes walmart (NYSE: WMT), Amazon (NASDAQ: AMZN), and Home deposit (NYSE:HD). Second, Plug Power is also working with New York State to become a hydrogen hub. This would be part of the federal infrastructure bill signed into law in 2021. If things go according to plan, Plug Power could have access to the $8 billion set aside to build hydrogen hubs by President Biden. Given that Plug Power has operations near Albany, New York, this would be an ideal setup for the company. With all that in mind, will you be keeping an eye on PLUG stock?

PLUG Stock Chart
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Evelyn C. Tobin