2 Top Renewable Energy Stocks in Solar Power
The United States leans on solar power to generate about 2.5% of its total electricity. That's not much, but the power source continues to run down the cost curve.
The levelized cost of electricity from solar panels and an energy storage system, including the investment tax credit (ITC), was about $37.50 per megawatt-hour (MWh) in 2018 and is expected to fall to $27 per MWh in 2022. If that economic tipping point is achieved, then it might cost less to build new utility-scale solar power plants than natural gas power plants.
The same advances that usher in that lower-cost future will also trickle down to residential and commercial solar markets. More-efficient panels with fewer parts and more-durable materials could make homeowners and local businesses favor adding small-scale installations to their roofs. That would further extend the growth opportunity already present for SolarEdge Technologies (NASDAQ: SEDG) and Enphase Energy (NASDAQ: ENPH), which sell hardware that maximizes the value of solar modules. Here's why these two solar stocks are promising growth stocks as well.
Source Fool.com
