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Tesla, New Flyer and the Top 8 Renewable Energy Stocks to Buy Now

Melisa R. H.Melisa R. H. Posted On February 12, 2019
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Looking to invest in green energy? Wind energy has been experiencing great success, and solar energy is getting cheap. Companies like Tesla, Green Power and New Flyer are also working on utilizing this clean energy.
 
Here’s what a New Flyer electric bus look like :

Electric Bus

Greenpower has the electric version of the yellow school bus :

Greenpower School Bus

And you probably already know what a Tesla look like, but we never get tired of looking at those Falcon Wing doors so here they are for your pleasure :

Tesla Model X

Enough with the pictures! We selected the top 8 companies on Stockchase with a focus on renewable energy, the electric vehicle companies being the most interesting for sure but turning waste-to-energy companies also fascinate me. Isn’t it how Doc Brown powers his car at the end of the movie Back to the Future? :

🚚Industrials
Covanta Holding Corp. (CVA-N)

Covanta Holding Corp. (CVA-N) — Stockchase
Covanta Holding Corp. (CVA-N) — Stockchase

He really likes them but it's a risk that the company is involved in a specific waste-to-energy technology, which can change suddenly. CVA takes away waste and turns it into energy. A safer way to play CVA is the EDX ETF. 5.7% dividend

stockchase.com stockchase.com

⚡ Energy
Canadian Solar Inc. (CSIQ-Q)

Canadian Solar Inc. (CSIQ-Q) — Stockchase
Canadian Solar Inc. (CSIQ-Q) — Stockchase

They got hit hard when China when big into green tech a decade ago and flooded the market with solar panels. CSIQ was one of the big solar panel-makers. They also spun off their renewable energy assets. This stock is completely ethical, but the price of panels plunging hurts this stock.

stockchase.com stockchase.com

First Solar Inc. (FSLR-Q)

First Solar Inc. (FSLR-Q) — Stockchase
First Solar Inc. (FSLR-Q) — Stockchase

This will work If there's a Democratic sweep on Nov. 3. The Dems will throw money into solar energy, and this is a good play. FSLR makes the solar modules in solar panels.

stockchase.com stockchase.com

NextEra Energy (NEE-N)

NextEra Energy (NEE-N) — Stockchase
NextEra Energy (NEE-N) — Stockchase

For the more conservative investor, but good dividend growth. Utility with the highest percent of renewable wind and solar energy. Dividend has grown about 12% over each of last 5 years, and should grow faster. Possible tailwind from Biden presidency. The way the stock's behaved, there's no other utility like it. Yield is 1.89%. (Analysts’…

stockchase.com stockchase.com

Innergex Renewable Energy (INE-T)

Innergex Renewable Energy (INE-T) — Stockchase
Innergex Renewable Energy (INE-T) — Stockchase

The renewable space has been very hot. Over time there will be a lot more demand for renewable energy and this company will benefit.

stockchase.com stockchase.com

🛍 Consumer
Tesla Motors Inc (TSLA-Q)

Tesla Motors Inc (TSLA-Q) — Stockchase
Tesla Motors Inc (TSLA-Q) — Stockchase

Parabolic in last little while. Now overbought. 200x forward earnings, 35% growth, 5-6x PEG, 18x price to sales. Not cheap. Risk of competition from the big players. Based on technicals and fundamentals, be cautious.

stockchase.com stockchase.com

GreenPower Motor Company Inc. (GPV-X)

GreenPower Motor Company Inc. (GPV-X) — Stockchase
GreenPower Motor Company Inc. (GPV-X) — Stockchase

There is a lot of froth in the green space area. He thinks there is a shift to people wanting to trade these at a premium. Longer term it makes sense to hold this, but be careful chasing names in this space.

stockchase.com stockchase.com

New Flyer Industries Inc. (NFI-T)

New Flyer Industries Inc. (NFI-T) — Stockchase
New Flyer Industries Inc. (NFI-T) — Stockchase

In the context of carbon tax announcements and the green push in US government Generally, yes, he'd buy this. There is a green push which will benefit NFI in the next couple of years. As for the Covid effect: People riding transit are extremely cautious and practice safety measures like distancing. Secondly, a company called…

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