There is little doubt that renewable energy is the future, and the electric power production industry is already shifting in that direction. According to the U.S. Energy Information Agency, renewables have seen incredible gains in America over the past four years. From 2020 to 2023, solar consumption grew from 511 trillion Btu to 878 Btu, which is good for a nearly 72% increase.
And while fossil fuels still account for 60% of all electricity generation by source, renewables are up to 21.4% of the total (nuclear makes up the remaining 18.6%). But as the push for clean energy persists, the stocks of companies operating in that space often lag. So, let’s examine three major industry leaders to see if investors should be considering their shares.
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