The Top 3 Public Cleantech Companies for 2023
By TOI Staff April 21, 2023 Update on : April 21, 2023
As our world grows more and more environmentally conscious, investing in sustainable solutions such as cleantech is becoming increasingly popular. Companies specializing in things such as renewable energy, electric vehicles, sustainable agriculture, and more, are now seeing an influx of investment capital from big investors.
Due to this, many cleantech companies are becoming attractive options for investors looking for financial return in addition to helping out the environment. For example, there are now many investment firms dedicated to sustainable investing, such as the firm this individual profiled here is a part of.
After reading this article, you may want to do additional research on any stocks that interest you to ensure that the investment is a good choice for you. For now, let’s dive into the top three cleantech companies that could be a good investment for the year 2023.
General Motors (GM)
GM is probably not the auto manufacturer you were expecting to see on this list. But General Motors is expected to surpass Tesla by 2030 in the race for the electric vehicle market share. According to this Forbes article, GM is expected to have a market share of 18.3% compared to Tesla having one of 11.2%.
Lately, General Motors has been heavily investing in electric vehicle technology, and are looking to launch 25 electric cars by 2025. With four strong car brands under its control, and a substantial lead in the electric vehicle industry compared to most other automobile manufacturers, it is likely that General Motors rivals Tesla in the EV industry.
As of April 14th, General Motors closed at $34.49, nearly half of the price of the all-time high of $65.29 the stock hit on January 4th 2022.
NextEra Energy, Inc. (NEE)
NextEra Energy is a slow but steady stock, and a great pick for those who may still be a little skeptical about adding a cleantech stock to their portfolio. NextEra Energy specializes in renewable energy generation, most notably wind and solar power solutions. It is headquartered in Florida, and provides power to more than 5 million residents in the state. It also operates across the United States as well as Canada, and has wind and solar farms across North America. NextEra Energy also owns the world’s largest solar farm, the Blythe Solar Energy Center, located in Riverside County, California.
NextEra Energy’s stock price has been a slow but steady earner, and is only down 15% from its all-time high, despite poor market conditions. As of April 14th, their stock price was $78.02 compared to an all time high of $91.35.
Enphase Energy Inc. (ENPH)
Enphase Energy is a leading manufacturer for microinverter systems, a vital component to the photovoltaic installations on solar panels. It also specializes in making battery storage, such as storage solutions for electric charging stations.
Enphase Energy is headquartered in Fremont, California, and has been in business since 2006. In 2022, the company reported revenue of 2.33 billion and is the sixth largest solar energy company in the world, according to this Investopedia article.
As of April 14th, the stock price for Enphase Energy Inc. was $208.90, down nearly 40% from its all time high of $339.92 in December of 2022.
Keep in mind, this article is not financial advice. We highly recommend doing additional research before making any important financial decisions.fb