Is Now the Time to Invest in Renewable Energy Stocks?
In its recent 2021 renewable energy market update, the International Energy Agency (IEA) said that renewables were the only energy source for which demand increased in 2020 despite the pandemic. The agency said the global growth in solar capacity "will continue to break records" with annual additions of solar generation 50% higher than pre-pandemic levels by next year.
The Biden administration is seeking to help fund renewable energy through a proposed infrastructure bill. Several areas of Biden's plan focuses on shifting the country to the use of greener energy over the next eight years. As investor sentiment recently shifted from higher-risk to value and cyclical companies, the stocks of companies benefiting from growth in renewable energy have retreated, making now a good time to invest in the expanding sector.
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Source Fool.com
