What do you think about new U.S. energy stocks?

Jun 19, 2021 Distribution

Here’s a look at the best stocks for investors looking to cash in on a boom in renewable energy.

Read More >”I think it’s the right time to take advantage of the rising prices of solar and wind power,” said Mark Follman, an analyst at investment bank Morningstar, which tracks the energy sector.

“The demand for power is so big, it’s just been a massive glut.”

The average price of a gallon of gasoline in July was up 3 cents to $2.14, according to AAA, and the average price for oil in July is up about 7 cents to about $107 a barrel.

“This is a time to cash out and buy cheap assets,” said Scott Waring, managing director at Wells Fargo Wealth Management.

“You can get great returns for your money.”

While oil is down more than $3 per barrel in the last year, the average monthly price of gas in July surged nearly 11 percent to $1.06.

That’s helped fuel gains in solar and natural gas stocks.

Solar has soared since the summer, when prices jumped nearly 30 percent from the summer of 2014 to July of this year, according a Bloomberg survey.

Solar installations increased from a little over 1 gigawatt (GW) in the summer to 2 GW this month, according an analysis by Bloomberg.

The industry is forecast to add another 10 GW by 2021, according data from the Solar Energy Industries Association.

“There’s just more demand for solar power,” Follmann said.

“It’s the best way to get energy at a cheaper price than coal and gas.

You can put in more panels than a natural gas plant, which will produce more electricity.”

While natural gas prices have been trending downward for some time, the industry has added more than 10 GW of capacity since August, the biggest jump since 2011, according the Solar Foundation.

The price of natural gas has been about $2 per million British thermal units since July, according Bloomberg.

Solar and wind energy have also gained steam as solar panels and wind turbines are being installed around the country, said Michael Ostermeier, director of the Center for Energy Efficiency and Renewable Energy at the University of Southern California.

“Solar is the best-performing renewable technology,” Osterbaum said.

By admin