The transition to renewable energy is one of the biggest investment megatrends of our lifetime. Over the coming decades, the world needs to invest trillions of dollars to decarbonize the economy. That should power above-average growth for companies focused on those sectors in years to come.

I want to cash in on this megatrend. That's why I've been loading up on renewable-energy stocks. I recently bought a few more shares of NextEra Energy Partners (NYSE: NEP) and Brookfield Renewable (NYSE: BEPC)(NYSE: BEP). Here's why I believe they could generate powerful total returns over the long term.

NextEra Energy Partners has hit a speed bump in recent years. Surging interest rates have driven up its cost of capital. Not only have borrowing costs risen, but its stock price has lost nearly 70% of its value from the peak in early 2022, driving its dividend yield up to 13%. That has made it more difficult to secure new funding at an attractive rate to refinance existing financing as it matures and obtain new capital for acquisitions. Because of that, the company has had to alter its strategy.

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Source Fool.com