One of the Best Renewable Energy Stocks to Buy in 2020

Raging wild fires in Australia have left a trail of destruction that can leave us with only one conclusion. Global warming is very real, and its consequences are to be feared.

Of course, fear is a powerful motivator. And it will likely bring about the changes needed to slow or reverse the climate changes that have been wrought by fossil fuels.

As an investor, now's the time to pay attention to the very powerful transition away from fossil fuels.

Money Morning Global Energy Strategist Dr. Kent Moors has been all over this trend for years. One of his favorite renewable energy stocks has soared more than 155% in the last five years. Compare that to the 58% gain of the S&P 500 in the same time.

And the gains are far from over for this renewable energy stock. In fact, it's one of his favorites to own this year.

That's important to note because finding profits in the markets will not be as easy in 2020 as it was in 2019. After all, the major market indexes all soared nearly 30% in 2019.

Growth at any price was rewarded with significant gains last year.

As any student of the market knows, such gains don't come without a cost.

At some point, there will be a price to be paid. Markets do not go up forever.

So when the bill does come, investors better be taking the right kind of risk. Risk that will be rewarded and not penalized when market conditions change and fortunes reverse.

To me, that means investing in risk that is going to pay off. Not investing in speculation.

With renewable energy, the future is certain.

Either we adapt and change our ways with respect to fossil fuel usage, or we perish.

The alternative energy poised to benefit the most in the near term is wind power.

Just as global warming may be at a tipping point, the wind industry is similarly poised for momentous growth.

Giants like General Electric Co. (NYSE: GE) are betting big on wind.

The American industrial company raised its outlook last month and cut a deal with Dogger Bank Wind Farms, which is developing the world's largest offshore wind farm.

That bodes well for the entire industry. And especially for our favorite renewable energy stock to buy right now…

This Wind Energy Company Is the Top Renewable Energy Stock to Buy Now