The alternative energy business is growing in popularity around the world. According to a new analysis from the World Resources Institute, the global community is growing less willing to accept the unrestricted use of nonrenewable energy sources like coal and oil. Alternative energy generates ecologically beneficial and long-lasting energy by utilizing sustainable materials and methods. According to a report, the renewable energy sector was worth $1046.6 million in 2019 and would create about $1594.7 million in revenue by 2026. Tesla, Inc. and other energy firms are attracting a lot of attention. Electric vehicle sales are predicted to increase from $121.8 billion in 2020 to $236.3 billion in 2021. According to the International Energy Agency, 145 million electric vehicles are predicted to be on the road by 2030.
Insider Monkey now takes a look at the 10 best alternative energy stocks to buy now. Avangrid, Inc. uses onshore wind power, as well as solar, biomass, and thermal power, to generate renewable energy. With $1.97 billion in revenue, the company topped both EPS and revenue projections for the first quarter, according to the company’s first quarter report. When compared to Q4’20 revenues, NRG Energy, Inc. doubled its revenue in the first quarter. On the list of the top alternative energy stocks to purchase right now, the company ranks ninth. It is a power corporation that produces and sells electricity in the United States. Solar, hydropower, and wind energy are used by the AES Corporation. On the list of the top alternative energy stocks to purchase right now, this company ranks eighth. In the last six months, the company has gained 21.5 percent, and year to date, it has gained 11.36 percent. Public Service Enterprise Group Incorporated is an energy firm based in the Northeast and Mid-Atlantic regions of the United States. With a forward PE ratio of 17.84, the firm is ranked 7th on the list of the top alternative energy companies to purchase right now. On the list of the top alternative energy companies to purchase right now, Evergy, Inc. is ranked sixth. The company’s revenue of $1.61 billion is a 43.8 percent increase year over year, with profitability of $191.6 million. For more details, click 10 Best Alternative Energy Stocks to Buy Now.