25 Green Energy Stocks To Buy (in 2021)

Many green energy stocks have struggled this year. But, with renewables now cost-competitive with fossil fuels in many places, clean energy stocks will benefit from the shift to alternative energy. We’ve listed 25 most talked-about green energy companies for you to look into.

SustainFi November 3, 2021

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With the COP26 climate change conference on the agenda, around 130 countries have put net-zero targets in place. It is clear that to get to net zero, investment in renewable energy must continue apace. In the U.S. alone, renewable energy use doubled between 2000 and 2018. Although green stocks have been volatile after the Biden election bump in 2020, they should still profit from the shift to renewables.

There are several groups of clean energy stocks you can invest in, and we’ve picked 25 companies to make things easier.

Green energy utilities and power generation stocks

Wind and solar energy producers like NextEra Energy, Iberdrola SA, and Enel SpA have been very popular with environmental funds. These companies made early bets on wind and solar farms and now run efficient international operations.

1. NextEra Energy (NEE)

  • Market capitalization: $166 billion
  • 1-year return: 11.4%

Florida-based NextEra Energy is a utility focused on solar and wind power. The company owns Florida Power & Light Company, the largest regulated electric utility in the U.S., and NextEra Energy Resources, the largest generator of wind and solar power in the U.S and a leader in battery storage. NextEra also runs seven commercial nuclear power units, which generate zero-carbon electricity. The company is planning to invest between $50 and $55 billion in infrastructure through 2022. Last but not least, NextEra received the S&P Global Platts 2020 Energy Transition Award for leadership in environmental, social and governance (ESG).

2. Enel SpA (ENEL)

  • Market capitalization: €74 billion
  • 1-year return: -1.6%

Rome, Italy-based Enel SpA is the world’s largest renewable energy producer outside China. Established in 1962, the company started as a typical energy utility but has since transitioned to renewables. Today, Enel is the world’s largest private renewable player with around 49 GW of global capacity. The company aims to invest 65 billion euros in wind and solar and 5 billion euros in battery storage by the end of the decade. Enel even has a green hydrogen segment.

3. Iberdrola SA (IBE)

  • Market capitalization: €64 billion
  • 1-year return: -5%

Based in Bilbao, Spain, Iberdrola is a Spanish utility that has made a timely shift to renewables over the past 20 years. It is one of the world’s largest producers of wind power and one of the biggest electric utilities by market capitalization. The utility aims to double its renewable capacity to reach 60 GW by 2025 and increase it to 96 GW by 2030. Besides onshore and offshore wind, Iberdrola’s alternative energy portfolio includes solar, hydroelectric, and battery storage.

4. Brookfield Renewable Partners (BEP)

  • Market capitalization: 13.6 billion CAD
  • 1-year return: 3.4%

Toronto, Canada-headquartered BEP is one of the world’s largest pure-play renewable electricity generators. The company operates nearly 6,000 hydroelectric, solar, and wind facilities in the Americas, Europe, and Asia. BEP believes that its alternative energy projects can generate an attractive 12-15% return each year.

5. Energias de Portugal (EDP)

  • Market capitalization: €19.3 billion
  • 1-year return: 11.3%

Lisbon, Portugal-based EDP is a Portuguese electric utility that generates almost 90% of its power from renewables, mostly wind and hydroelectric. The company supplies over 65 GW of electricity to nearly 10 million customers in Portugal, Spain, and Brazil.

6. NEOEN (NEOEN)

  • Market capitalization: €4 billion
  • 1-year return: -15.7%

Paris-listed Neoen operates solar and wind farms in 15 countries. Founded in 2008, the company has about 5 GW of renewables capacity in operation and under construction, and they are aiming for more than double that by 2025. Neoen is also active in energy storage: Neoen and Tesla have developed the world’s first big battery, the Hornsdale Power Reserve in Australia, which Neoen has been operating since 2017. The company is focused on renewables, without a legacy fossil fuel business.

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Wind energy stocks

Already one of the cheapest forms of energy, wind represents around 6% of global power generation. If you want to be more focused on wind power, here are several suggestions.

To generate wind power, developers install wind turbines that convert wind into electrical energy. Vestas and Siemens Gamesa are two leading global wind turbine manufacturers.

7. Vestas Wind Systems (VWS

  • Market capitalization: 269 billion DKK
  • 1-year return: 1.4%

Denmark-based Vestas Wind Systems is the leading onshore wind turbine manufacturer. The market for onshore wind has been around longer, and it’s more stable than the offshore market. Vestas has installed 18% of the world’s wind turbines, more than any other company. The company is also a leader in North America, where it has 40 GW of installed capacity.

8. Siemens Gamesa Renewable Energy (SGRE)

  • Market capitalization: €13.3 billion
  • 1-year return: -22%

Spain-based Siemens Gamesa Renewable Energy (SGRE) is the market leader in offshore turbines. The Spanish-German company also has an onshore business. Although Siemens Gamesa has recently struggled with rising costs and project delays, the long-term outlook for offshore wind energy is good. The company has nearly 115 GW in global installed capacity.

9. TPI Composites (TPIC) 

  • Market capitalization: $1.2 billion
  • 1-year return: -10%

TPI Composites makes blades for wind turbines and sells them to turbine manufacturers like Siemens Gamesa and Vestas. Blades are an expensive and critical component of a wind turbine, accounting for up to 20% of its cost. Since 2001, the Scottsdale, Arizona-based company has manufactured over 70,000 wind blades. TPIC also sold about one-third of all onshore wind blades in the world ex-China in 2020. TPIC is poised to benefit from the growing outsourcing of wind blade manufacturing.

10. Orsted (ORSTED)

  • Market capitalization: 390 billion DKK
  • 1-year return: -16%

Orsted is the largest offshore wind developer in the world with a 25% market share. Founded in 1973 as the Danish Oil and Natural Gas Company, Orsted transitioned to renewables in 2017 and aims to be a renewable “supermajor.” Today it runs 26 offshore wind farms, including the two largest offshore wind farms in the world. The company has also entered the onshore wind market.

Solar energy stocks

Solar panels are the cheapest way to generate electricity in many places. Solar energy is also benefiting from regulations. For example, California required all newly constructed buildings to have rooftop solar panels starting in 2020. Nevada has required utilities to obtain half of their power from renewables by 2030. Companies like Apple and Amazon are actively embracing solar to reduce emissions. You can invest in solar panel manufacturers, solar panel installers, and utilities that rely on solar power. 

11. First Solar (FSLR) 

  • Market capitalization: $12.6 billion
  • 1-year return: 34.5%

Arizona-based First Solar is one of the biggest solar panel manufacturers and solar project developers in the world. It is also the largest U.S. solar manufacturer, specializing in panels for large-scale installations. FSLR is one of the few U.S. solar panel makers to survive Chinese competition over the past decade.

While the solar panel market is very competitive, FSLR should benefit from continued growth in demand for solar panels. They also continue to win large solar farm installations, and the company has recently announced the building of a $680 million factory in Ohio. FSLR stock has been volatile, so do your homework before investing.

12. SolarEdge (SEDG)

  • Market capitalization: $18.5 billion
  • 1-year return: 70.5%

Established in 2006 and headquartered in Israel, SolarEdge (SEDG) is the market leader in inverters for solar panels. An inverter is the “brains” of the solar panel, transforming the direct current (DC) power into alternating current (AC). SolarEdge’s innovative inverter business has grown twice as fast as the industry over the past five years.

13. Enphase Energy (ENPH

  • Market capitalization: $32 billion
  • 1-year return: 126%

Fremont, California-based Enphase Energy also makes inverters for solar panels, as well as backup energy storage. The company has already shipped over 39 million microinverters. Enphase microinverter-based solar and battery systems let homeowners harness and sell their own power and control it with a mobile app. Enphase continues to see strong customer demand, although the supply chain has been constrained.

14. JinkoSolar (JKS)

  • Market capitalization: $2.7 billion
  • 1-year return: -13.3%

Chinese solar panel-maker JinkoSolar is the largest solar panel manufacturer in the world. Backed by the Chinese government, Chinese manufacturers have been cost-competitive, dominating the solar market over the past decade. JinkoSolar has nine global production facilities, and its products are shipped to over 160 countries.

15. Sunnova Energy International (NOVA)

  • Market capitalization: $4.7 billion
  • 1-year return: 47.5%

Fueled by devastating weather events which led to power losses, interest in residential solar installations has been growing in major U.S. markets like California and Texas.

Sunnova is a leading U.S. residential solar provider, offering residential solar panel installations and maintenance. Their offerings integrate solar, battery storage, electric vehicle charging, and energy management technologies. The company continues to see strong customer growth.

16. Sunrun (RUN)

  • Market capitalization: $4.7 billion
  • 1-year return: 47.5%

San-Francisco, California-headquartered Sunrun is the largest U.S. residential solar company. Sunrun installs rooftop solar and battery storage, letting most customers save 5-45% in year one. Sunrun sells services in 22 states plus Puerto Rico and boasts 550,000 customers. In 2020 alone, customers grew by 18%.

Hydrogen power stocks

Hydrogen is less than 1% of energy use today, according to the IEA, and green hydrogen, which is produced using clean energy, is much less than that. However, many investors and businesses are betting on a green hydrogen future, largely because hydrogen can be used to power hard-to-decarbonize sectors like long-distance trucking and shipping.

However, hydrogen stocks are not for the risk-averse due to high valuations and lack of profitability. It’s going to be a long time until hydrogen is cost-competitive with fossil fuels, so it pays to do your homework before you invest.

17. Plug Power (PLUG

  • Market capitalization: $23 billion
  • 1-year return: 137%

New York-based Plug Power makes hydrogen fuel cells that are mostly used to power forklifts in warehouses. The company counts Amazon and Walmart among its customers. Going forward, PLUG sees opportunities in electric vehicles like DHL vans, planes, and data center backup power. However, despite its market capitalization, PLUG remains unprofitable. Besides, its stock has been very volatile: after a great run in 2020, PLUG gave away most of the gains this year.

18. Ballard Power Systems (BLDP

  • Market capitalization: $5.5 billion
  • 1-year return: 12%

Ballard Power Systems is a Canadian company that makes hydrogen fuel cell technology used in cars, trucks, ships, trains, and buses. In addition to recently announced partnerships with Siemens for trains and Tata Motor for buses, BLDP has a JV with China’s largest diesel engine manufacturer, Weichai Power. Ballard has also been working with the Daimler-Volvo Joint Venture to produce hydrogen fuel cells for trucks. This company is also unprofitable, and the stock is volatile.

19. Bloom Energy (BE)

  • Market capitalization: $5.5 billion
  • 1-year return: 119%

San Jose, California-based Bloom Energy makes fuel cells that generate energy onsite. According to the company, Bloom Energy servers can convert natural gas or hydrogen into electricity without emitting much carbon. In 2020, BE partnered with Korea’s SK Group to sell hydrogen-powered fuel cells and electrolysis machines. Still, the company has yet to generate a profit, and its stock has been targeted by short-sellers.

20. FuelCell Energy (FCEL)

  • Market capitalization: $3.5 billion
  • 1-year return: 308%

Connecticut-based FuelCell Energy makes fuel cell power plants. Its SureSource systems provide continuous power to customers like utilities, energy companies, and municipalities. But, despite running over 50 plants on three continents, the company is yet to turn a profit.

Nuclear power stocks

Nuclear power has a bad rap. In fact, most environmental, social, and governance (ESG) funds screen out nuclear energy stocks. Yet many scientists and environmentalists, including Bill Gates, argue that we can’t get to net zero carbon without nuclear power. Many countries, notably China, are planning new nuclear reactors.

It is hard to invest in nuclear power plants directly because they are only a small business line for utilities like NextEra. However, there are multiple ways of investing in uranium, a key metal needed to fuel nuclear power plants.

21. Cameco (CCJ)

  • Market capitalization: $10.8 billion
  • 1-year return: 179%

Based in Saskatchewan, Canada, U.S.-listed Cameco is the largest publicly traded uranium company. It owns uranium mines worldwide, including in Canada, Kazakhstan, and Australia. In 2015, Cameco was the world’s second-largest uranium producer, accounting for 18% of global production. It holds about 455 million pounds of proven and probable reserves on three continents.

22. NexGen Energy (NXE)

  • Market capitalization: 3.5 billion CAD
  • 1-year return: 254%

NexGen Energy is another Canadian uranium miner. It owns a portfolio of uranium exploration assets in the Athabasca Basin in Canada.

23. Denison Mines Corp (DNN)

  • Market capitalization: $1.6 billion
  • 1-year return: 466%

Denison Mines Corp. is a Canadian uranium miner best known for its uranium mining in the Athabasca Basin region of northern Saskatchewan, Canada.

24. Uranium Energy Corp (UEC)

  • Market capitalization: $1.1 billion
  • 1-year return: 388%

Texas-based Uranium Energy Corp has a uranium processing plant near Corpus Christi in Texas, as well as the largest U.S. pre-construction uranium project located in Wyoming. Hoping to benefit from the tightening market, UEC has recently acquired a portfolio of physical uranium.

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Geothermal energy stocks

Geothermal energy is a clean, renewable form of energy derived from the heat of the earth. Although geothermal projects only work in certain regions where the heat from the earth is easy to access, they have long lives and can produce energy without intermissions. As a result, geothermal is a nice backup for intermittent sources of power like wind and solar. The U.S. is the global leader in geothermal, and California has ideal geothermal conditions in places like the Geysers, the world’s largest geothermal field north of San Francisco.

Although many utilities and oil and gas companies have small geothermal businesses, it’s hard to get pure-play exposure. That leaves Ormat Technologies, the only sizeable pure-play geothermal stock.

25. Ormat Technologies (ORA)

  • Market capitalization: $4.1 billion
  • 1-year return: 2%

Headquartered in Reno, Nevada, Ormat was founded in 1965 in Israel, completed its U.S. IPO in 2004, and currently trades on the New York Stock Exchange. Ormat builds and operates heat-powered and recovered energy plants (which generate energy from residual heat from industrial processes like cement manufacturing and solar thermal units). Ormat has even been adding solar to the mix.

Ormat operates 25 geothermal, recovered energy, and solar sites globally. Geothermal comprises 93% of generating capacity. Most of the sites are in the U.S; other countries where Ormat operates are Kenya, Guatemala, Honduras, and Guadeloupe (France).


Renewable energy stocks are transforming power generation, transportation, and everyday life. If you want to learn how to find other environmental, social, and governance (ESG) thematic stocks, check out our guide to investing in ESG companies.

NOT INVESTMENT ADVICE. The content is for informational purposes only; you should not construe any such information as investment advice.

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