Why New Energy Is A Good Buy

2 Reasons to Invest in Renewable Energy Stocks;These dual catalysts make renewable energy stocks attractive long-term investments.

Matthew DiLallo, December 22, 2020 (The Motley Fool)

This year has been a fantastic one for renewable energy stocks…[Despite slowing due to COVID, the] Invesco Solar ETF, which focuses on solar energy stocks, is up a stunning 192% this year. Meanwhile, the iShares Global Clean Energy ETF has surged an impressive 110%...[T]he future is even brighter…Onshore wind is less expensive in many areas than building a new combined cycle gas turbine…Many forecasters believe that solar will soon be the lowest cost supplier of bulk power…Because of that, and growing climate change concerns -- which is powering net-zero pledges around the globe -- renewable energy development is accelerating…[Forecasters see] 15% average annual market growth…

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…[W]ith costs coming down so dramatically, renewables can generate attractive returns on investment…As a result of technology advances and reductions in construction costs, solar can stand on its own without subsidies and more importantly, is now among the lowest cost sources of conventional power globally…The renewable energy industry has a spotty track record of creating value for investors because many companies chased growth at all costs. However, with development costs coming down, renewables are increasingly profitable investments…[and are] poised to pay big dividends for investors in the company years…[especially as leaders] accelerate their development capabilities to capture more of the growth ahead…” click here for more

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