Over the past couple years, renewable energy stocks have seen incredible growth. Over this time, stocks like
NextEra Energy (+72.56%),
Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) (+168.61%), and
Northland Power (TSX:NPI) (+97.79%) have seen returns that most publicly traded companies can only dream of.
Many of these gains have been attributed to a general influx of investors that believe in including ESG investing principles into their portfolios. In a more tangible sense, we have recently seen Joe Biden win the United States presidency.
Biden has made the issue of climate change, and his promise to create a more sustainable future, a main focus of his campaign. With that said, in this article, I will discuss the two Canadian renewable energy stocks I am most bullish on.
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Another batch of Tax-Free Savings Account (TFSA) contributions becomes available soon. Starting in a few weeks, you could add another $6,000 to your account and invest it in anything for tax-free returns. Alas, roughly half of all Canadian savers leave their TFSA in cash or savings accounts.
Instead, here are the top three growth stocks that could deliver stunning capital appreciation in your TFSA.
TFSA growth stock one
Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) is a must-own for any investors serious about riding the bull run expected as Joe Biden takes the reins from Donald Trump. The president-elect has made it clear that reducing carbon emission is top on the agenda as he assumes office come January 20, 2021.
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Many Canadians are actively working on building a solid dividend portfolio with the goal of being able to live off passive income. However, choosing which companies to include can be difficult. One way to remedy this issue would be to use research services like this website. The Motley Fool offers its Dividend Investor service, which can help Canadians navigate the stock market. In this article, I will do my part in helping you navigate the markets and discuss two companies you should be holding next year.
This renewable energy company cannot be denied
I believe the renewable energy industry is one of the most attractive areas to be searching for dividend companies. This industry provides investors with businesses that have a very predictable and reliable source of revenue. Regardless of the economic conditions, cities will continue to require electricity.
Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
Energy stocks have long been known as solid dividend stocks, but the last decade has thrown the market into more turmoil than we ve seen in a century. Coal, oil, and natural gas have come under pressure from renewable energy sources, and even formerly rock-solid investment performers like big oil stocks have plunged.
Investors looking to get income from energy dividends today would be wise to look for payouts from companies that have these long-term trends at their back and still have growth opportunities ahead. I think
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The first of the solar stocks to look at is JinkoSolar. The Chinese company is one of the largest suppliers of PV modules to India. All of the PV modules that shipped in the first quarter featured the company’s proprietary mono PERC technology, comprising full-cell and half-cell modules.
The company is managing to increase its market share in the region. This is no small feat considering the supply chain pressures caused by the novel coronavirus. The company is also primed to be a leading supplier to China and the European Union as they begin to ramp up their solar ambitions.