Solar energy is going to lead the energy sector in growth over the next two decades, which will be a major catalyst for the best solar stocks to buy in 2018.
That’s why we’re going to show you the one you need to own…
The U.S. Energy Information Administration (EIA) reports that global energy demand will rise 25% by 2040.
But that demand can’t be met with just oil, gas, and coal - the world’s “traditional” sources of power.
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Solar is limitless, clean, and increasingly cheap. That’s creating an opportunity for the newest segment of the energy industry to explode in growth.
And it will make solar stocks hugely profitable…
Solar Energy Will Grow by 700%
Solar energy’s advantages over fossil fuels – its limitless supply and clean production – have yet to be fully realized because of its costs.
But that’s rapidly changing…
Money Morning Global Energy Strategist Dr. Kent Moors reports that solar energy has now reached grid parity with traditional energy sources, including gas and coal. That means it costs the same for a power plant to use solar power as its fuel source to generate electricity as it does to use coal, gas, or oil.
Now, solar energy is at grid parity in at least 20 states. And these aren’t small or rural states, either. New York, New Jersey, and California have all seen solar energy’s costs fall to meet fossil fuels’ costs.
That’s no surprise either, since the cost of solar energy has been slashed to 1/150th of what it was in the 1970s. And costs have fallen 10% in the last year alone.
Coupled with rising global demand for energy, solar power’s inherent advantages over fossil fuels, and its increasingly competitive costs means the solar industry – and solar stocks with it – are poised to see explosive growth.
The EIA is projecting solar energy production in the United States will soar a massive 500% by 2040.
And the best solar stocks will profit right alongside the industry’s incredible growth rate.
But the United States doesn’t even have the most lucrative solar energy sector…
China Is Already the World’s Solar Leader, and It’s Only Getting Started
China is already a world leader in the solar energy market, but many don't realize the astounding rate at which its industry is growing.
Last year, China committed to producing 105 gigawatts of solar energy by 2020 as part of its five-year economic plan. The goal was ambitious, and to achieve that goal, China needed to triple its solar energy production annually through 2020.
China isn’t just on track to achieve its goal - it already smashed it…
Incredibly, China hit that goal by reaching 112 gigawatts this year, four years ahead of schedule. China's solar energy growth has been so explosive that the country has doubled the new energy capacity of any other country in just the past year.
Solar Energy Will Power the Farms of the Future
These gains are all part of a well-thought-out and systematic plan on the part of the Chinese government to expand the country's solar industry. In 2017, China built the world's largest solar farm. China has also completed the world's largest floating solar farm this year. Together, these two operations can generate enough power to sustain 215,000 homes.
While these two solar farms are massive, they are nothing compared to China’s potential growth.
You see, China is the world's biggest consumer of electricity, at 4.8 trillion kWh annually. The United States consumes just 3.9 trillion kWh of power.
You see, China's current solar output is just 5% of the country's total energy output, which means it still has tremendous potential. Today, solar makes up 5% of China’s energy production, while coal makes up 59% of the total. Five years ago, solar was less than 1%, and coal was 66% of the total.
That means if solar energy is able to replace even half the energy supplied by coal, China’s solar energy will skyrocket.
In fact, Wood Mackenzie predicts China's solar generation is poised to grow an astonishing 700% by 2035.
And American investors can profit from these explosive numbers by owning the top solar stocks in 2018.
Here’s the best one to buy…
This Is the One Solar Stock to Own in 2018
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Moors' favorite solar stock is China's JinkoSolar Holding Co. Ltd. (NYSE: JKS).
JinkoSolar is a Chinese manufacturing company that started making solar wafers and photovoltaic (PV) cells back in 2006.
In just over a decade, JinkoSolar has grown to become world's third-largest PV cell supplier by capacity. And the growth keeps coming. In Q1 2017, JKS became the first PV maker to ship more than two gigawatts of PV modules in a single quarter. And JinkoSolar just beat its own record in Q2, shipping 2.8 gigawatts last quarter.
That sort of growth isn't surprising, considering China's explosive solar industry, but JinkoSolar is also one of the best solar manufacturers in existence.
"This is the premier solar company in the world," said Moors. "With global operation and good relations with the Chinese government, Jinko is perfectly positioned to continue growing."
That means JinkoSolar is poised to grow right alongside China's potential 700% solar industry forecast. And because China is already making 60% of the world's PV cells, JinkoSolar is well-positioned to take on even more growth as the rest of the world turns to solar energy. In fact, the EIA projects the United States' solar production alone will grow by over 500% by 2040.
Shares of JKS are trading at $25.07, and they're up 65% this year already. But this is only the beginning for the world's top solar company.
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