US Renewable Energy Sector Outlook
Experts anticipate the US renewable energy industry to grow at a CAGR of more than 6% between 2022 and 2027. As a result of the COVID-19 outbreak, the US renewable energy market saw a decline in investments in Q1 2020. Also, a potential slowdown in the adoption of important clean energy technology and project delays. Rising solar and wind energy installations through time, favourable government policies, falling solar panel costs, and further subsidies for renewables may drive the market for renewable energy.
Thanks to technological advancements, improved competitiveness of battery storage and falling prices, renewable energy sources are among the most cost-effective energy sources right now. Numerous states, utilities and municipalities have adopted stricter requirements for acquiring energy storage as part of their ambitious clean energy targets.
The demand for renewable energy may rise as awareness of climate change, backing for environmental, social, and governance (ESG) factors, and demand from the majority of market segments for cleaner energy sources rise.
The country plans to invest USD 555 billion in funding sustainable energy programs. As a result, the renewable energy sector and the popular energy stocks in the US may benefit from this.
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Best US Renewable Energy Stocks
The following stocks are the most popular renewable energy stocks in the USA, sorted based on their market capitalization.
- NextEra Energy Inc.
- SolarEdge Technologies Inc.
- First Solar Inc.
- First Solar Inc.
- Vistra Energy Corp.
NextEra Energy Inc.
NextEra Energy is the world’s largest utility company based in the United States of America. It generates the highest wind and solar energy in the world. By combining zero-carbon resources with short- and long-term energy storage, the company anticipates a totally carbon-free power sector by 2045.
The company’s renewables portfolio covers almost the whole country of the United States, assisting customers and businesses in achieving their carbon reduction objectives as well as Renewable Portfolio Standards (RPS) requirements. NextEra Energy creates and customizes solutions for each partner.
Currently, the company is operating renewable energy at 28,000 Megawatts. In addition, it has 18,000 Megawatts of renewable energy under development and 4,500 Megawatts of battery storage that is operational and under development.
The company was founded in 1984 and has its headquarters in Juno Beach, Florida. NextEra Energy is currently led by John W. Ketchum, who is the CEO. It trades on New York Stock Exchange (NYSE) with the ticker ‘NEE’.
SolarEdge Technologies Inc.
Global innovator in smart energy technologies, SolarEdge develops smart solutions that run lives and advance the future by utilizing top-tier engineering talents and constantly focusing on innovation.
The company created the DC optimized inverter solution that revolutionized the collection and management of power in photovoltaic (PV) systems. The inverter system from SolarEdge increases power production while lowering the cost of the energy the PV system produces.
SolarEdge continues to promote smart energy by addressing a variety of energy industry segments with its varied product line. Residential, commercial, and large-scale PV, home energy management, energy storage and backup solutions, EV charging, grid services, uninterrupted power supply (UPS) solutions, virtual power plants, and batteries are some of these segments.
The company was established in 2006 and has its headquarters in Herzliya, Israel. SolarEdge is currently led by Zvi Lando, who is the CEO. It trades on Nasdaq with the ticker ‘SEDG’.
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First Solar Inc.
First Solar is a leading solar technology firm in the US and a global supplier of ethically made, eco-effective solar modules that advance the fight against global warming. The company’s innovative thin film photovoltaic (PV) modules, from R&D facilities in Ohio and California, are the cutting edge of solar technology and offer a competitive, high-performance, lower-carbon substitute for traditional crystalline silicon PV panels. First Solar’s technological approach, from raw material procurement and manufacture to end-of-life module recycling, combines sustainability and duty to people and the environment (planet).
The company was incorporated in 1999 and had its headquarters in Tempe, Arizona. It is led by Mark R Widmar, who is the CEO. First Solar trades on Nasdaq with the ticker ‘FSLR’.
Vistra Energy Corp.
Vistra Energy is a top Fortune 275 integrated retail electricity and power generation company that offers vital resources for consumers, businesses, and communities. It combines a cutting-edge, customer-focused retail strategy with secure, dependable, varied, and effective electricity generation.
Vistra, which is among the biggest competitive electricity suppliers in the nation, provides electricity and natural gas to roughly 4.3 million residential, commercial, and industrial retail customers. It also offers more than 50 renewable energy options. With a capacity of about 39,000 megawatts, the firm is also the largest competitive power generator in the United States.
Its broad portfolio includes solar, nuclear, natural gas, and battery energy storage facilities. The company owns and operates the 750-MW/1,600-MWh battery energy storage system (the largest in the world ) in California.
Following are Vistra’s four guiding values:
- We do business the right way
- We work as a team
- We compete to win
- We care about our key stakeholders
The company was founded in 2016 and has its headquarters in Irving, Texas. Vistra Energy is currently led by Jim Burke, who is the President and CEO. It trades on NYSE with the ticker ‘VST’.
With $52 billion in power assets under management, Brookfield Renewable is one of the leading owners, managers, and developers of renewable energy worldwide. The company’s portfolio of hydropower, wind, solar, and storage assets spans North America, South America, Europe, and Asia. It holds a combined installed capacity of over 19,000 megawatts and an additional 18,000 megawatts in the line for future development.
Furthermore, Brookfield Renewable creates cutting-edge renewable power solutions that speed up the transition to a sustainable, low-carbon future by using large clean energy platforms.
The company was founded in 2011 and has its headquarters in Bermuda. Brookfield Renewable is currently led by Bruce Flatt, who is the CEO. It trades on NYSE with the ticker ‘BEPC’.