Tuesday Dec 06, 2022

5 Clean Energy Stocks To Buy At Bargain Prices – OilPrice.com

npressfetimg-18.png

After another underwhelming start to the year, clean energy stocks have lately been showing signs of sizzle thanks to the unveiling of the European Union’s multibillion euro plan to reduce dependence on Russian fossil fuels.

According to the new RepowerEU plan, the European Commission has set a goal to have half the EU’s energy coming from renewable sources by 2030–effectively more than double the current levels, with total costs to be offset by €84B in annual savings on imported fuel. RepowerEU says full implementation of its proposals would cut gas consumption 30% by 2030.

The EC has proposed to “introduce an obligation to have rooftop solar installations for all new buildings and all existing buildings of energy performance class D and above [the most energy-intensive].” The European Commission aims to speed up construction of wind farms and solar arrays by forcing member states to designate “go-to” zones with lower environmental standards and processes for fast-track approvals. 

Unlike their fossil fuel peers, clean energy stocks have had another torrid year with the sector’s popular benchmark iShares S&P Global Clean Energy Index ETF (NASDAQ:ICLN) down 5.6% in the year-to-date mainly due to inflation pressures, supply chain snarls and a resurgence of Covid 19. However, a cross-section of Wall Street analysts is advising investors that the current market turmoil is a perfect opportunity to buy clean energy stocks at bargain prices. 

Here are some top picks by the experts.

 

 

Market Cap: $2.4B

YTD Returns: -28.8%

Headquartered in Houston, Texas, Sunnova Energy International Inc. (NYSE:NOVA) provides residential energy services in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services.

 As of December 31, 2021, NOVA operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

After a disastrous start to the year, NOVA shares have climbed nearly 21% over the past five trading sessions after Northland initiated an Outperform rating on the stock along with a price target tagged to $30 on NOVA, implying potential upside of 46.6% from stock’s last close.

According to Northland, NOVA’s current price offers “a compelling entry point” for investors looking for exposure to the residential solar market given the view that Sunnova has “a well-oiled dealership-based business model as well as very strong and dependable cash flows.”

 

 

Market Cap: $5.6B

YTD Returns: -25.5%

Sunrun Inc. (NASDAQ:RUN) is a San Francisco, California-based solar company that  engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States.Sunrun also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems. Its primary customers are residential homeowners.

RUN stock has jumped 50% over the past three weeks after the company reported a Q1 GAAP loss but better than expected …….

Source: https://oilprice.com/Energy/Energy-General/5-Clean-Energy-Stocks-To-Buy-At-Bargain-Prices.html

Leave a Reply

Your email address will not be published.

Back to Top