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Clean energy stocks are looking sweet for investors in the long term. That's because clean energy will account for 33% of all U.S. electricity generation by 2016 – up from 16% today, according to the Energy Information Administration.
Moreover, solar, wind, and geothermal production are expected to double over the next 25 years, according to the same report.
And last year was a banner year for clean energy. Renewable power for electric generation soared 23%, making it the second biggest source of new generator capacity. Favorable green energy trends from U.S. President Barack Obama's Climate Action Plan initiative also sparked industry growth.
Clean energy has become more than a trend – it's now a conscious and sustainable choice for many Americans. It accounted for nearly 40% of all new domestic power capacity installed in 2013.
The following are clean energy stocks that promise to benefit most from the alternative energy industry's burgeoning inclusion into our daily lives…
Clean Energy Stocks Poised to Outperform
Solar Energy Stocks
The U.S. solar industry enjoyed a record year in 2013. Solar accounted for 29% of all new electricity generation added in 2013, up 10% year over year, according to the Solar Energy Industries Association. Robust growth in the sector is expected to continue as solar energy becomes more efficient and cost-effective.
A key firm in the space is First Solar Inc. (Nasdaq: FSLR), founded in 1999 and based in Tempe, Ariz. First Solar provides solar energy solutions worldwide. Shares are up more than 44% over the last 12 months and up 32% over the last three months thanks to impressive earnings and a rosy guidance. Brean Capital initiated coverage on First Solar with a "Buy" rating just last week with a $83 price target. Shares were trading at $65.86 on April 29.
Wind Energy Stocks