Financial analysts predict that renewable energy companies are poised for major growth and now is a good time to make an investment in green energy stocks. Many renewable energy companies currently sit at 20 percent below their peak profit, so it is possible to buy in while the cost is low.
According to a CNBC article, Goldman Sachs analysts say, “Government funding, regulatory support and cash flowing into so-called ESG funds — those that take environmental, social and governance factors into account — are now set to boost the performance of renewable energy stocks.“ They added that “…companies exposed to the energy transition are likely to deliver unprecedented growth over the coming decades.”
There is a growing demand for renewable energy in the U.S., so it’s no surprise that financial investors are starting to jump on the clean energy bandwagon. It also doesn’t hurt that the Biden Administration has made a clear commitment to lowering carbon emissions across the country.
So, what does this mean for the average American?
It couldn’t hurt to add a renewable energy stock or two to your financial portfolio. If you’re going to invest, do your research and avoid emptying your entire savings account into one energy stock. Here are few tips when renewable energy stock shopping: