Renewable energy generated $881.7 billion in 2020 and is expected to grow to $1,977.6 billion by 2030, according to the International Renewable Energy Agency (IRENA). The market for clean and renewable energy has risen due to increased demand, government support for green energy initiatives, and an increase in electricity and energy use. In comparison to the previous year, wind and solar capacity additions increased by 33% by October 2021. Despite the COVID-19 pandemic, capacity installations in 2021 remained at a record high. Activity in the renewable-energy sector is increasing because of Biden administration’s plans to reduce US carbon emissions.
Insider Monkey highlights the 10 most popular green energy stocks among elite hedge funds. Canadian Solar Inc. is a major player in the renewable energy sector, with significant solar projects under its belt. In the fourth quarter of 2021, D E Shaw had a $8.85 million stake in the company, making it a significant shareholder. To date, SunPower is owned by TotalEnergies SE, which has a controlling stake in the company. Sales rose 12.50 percent year-over-year to $384.53 million, beating the market’s expectations by $14.76 million in this period. In the United States, Clearway Energy, Inc. is a leading provider of low-cost, clean solar and wind energy. 1.2 million shares valued at $41 million belonged to Renaissance Technologies, the largest shareholder. Plug Power Inc. is a manufacturer of hydrogen fuel cell systems for use in electric machinery, equipment, and vehicles. These systems replace traditional batteries. The company expects revenue of $900 million to $925 million in 2022, compared to the market’s estimate of $965 million. California-based Bloom Energy Corporation is a provider of renewable energy. Solid oxide fuel cells, which are used to generate electricity, are made by this business. The company reported a 0.05-per-share loss and revenue growth of 37.33 percent year-on-year in the fourth quarter. For more details, click 10 Most Popular Green Energy Stocks Among Elite Hedge Funds.
