The Most Googled Renewable Energy Stocks Set To Explode in Price

Just a couple of weeks ago, Credit Suisse bank reported that the Inflation Reduction Act of 2022 (IRA) “will have a profound effect across industries in the next decade and beyond.”

Because of how the law is written, they say government spending could run more than double the already $274 trillion projected by the Congressional Budget Office. Even before that announcement, the incentives and tax credits offered in the legislation are priming the U.S. renewable energy sector for explosive growth.

In addition, the International Energy Agency has set a roadmap for 90% of global energy production to come from renewable sources by 2050.

While inflation-resistant investments like Gold and Silver may be the flavor of the month, this is a great time to research potential green energy stocks to add to your portfolio as the market bounces back.

Here are the top 7 trending renewable energy stocks, based on an analysis of worldwide Google searches compiled by CMC Markets, as well as a few interesting facts about each company to assist in your decision-making.

1. Tesla (Tsla)

  • Searches per Month: 7,870,000
  • Current Share Price: $289.83

Tesla is the most searched renewable energy stock worldwide, with more than 18 times as many searches as the second most popular stock. While most of us are familiar with Tesla’s electric vehicles, a large part of the stock’s popularity is also due to its founder, Elon Musk.

Besides the ultra-popular electric cars, Tesla’s products include solar panels and batteries for green energy generation and storage. As the leading electric car manufacturer in the world, Tesla’s popularity is sure to keep it on the top of this list for years to come.

Consider this before you buy:

  • The stock took off on a stellar run during the pandemic and was part of nearly every investor’s trading strategy.
  • Tesla’s stock price has dropped as part of the more prominent tech sell-off in 2022. With interest rates rising, companies with a rich, forward price-to-earning ratio are prime targets for further correction. Tesla is trading at around a price-to-earning (PE) ratio of 65.
  • Yahoo Finance analysts had a BUY consensus in August 2022. That has come down in September, most trending to a HOLD rating.
  • Tesla closed out 2021 with record revenue and profit numbers.

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2. Gevo (Gevo)

  • Searches per Month: 425,000
  • Current Share Price: $2.35

Gevo, a lesser-known Colorado company, has patented technology to produce fuel from renewable hydrocarbons.

Gevo may be poised for fast growth, funded by the U.S. Department of Agriculture as part of an initiative to create low-carbon intensity corn and sustainable aviation fuel.

Consider this before you buy:

  • Not many analysts cover Gevo yet, but the consensus is a BUY rating with a price target comfortably above today’s levels.
  • Besides the Department of Agriculture project, Gevo signed a 5-year deal with Alaska Airlines to supply 37 million gallons of sustainable aviation oil.

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3. Plug Power (Plug)

  • Searches per Month: 319,000
  • Current Share Price: $23.94

Plug Power operates out of New York and creates green power out of hydrogen.

How? The company uses an electrolyzer powered by renewable energy sources like solar, wind, or water to capture hydrogen. This captured hydrogen then powers electric vehicles, homes, and businesses with nearly zero emissions.

With hydrogen power expected to finally become cost-effective and turn into an $11 trillion market, there is considerable buzz around Plug Power as a leading player in this market.

Consider this before you buy:

  • PLUG shares have trended downward due to the emergence of Loop, a Canada-based competitor that is promising similar technology but at a lower price and more efficiency. Loop’s technology (as with most Hydrogen fuel cell companies) still needs to be proven.
  • Analysts have a consensus rating of BUY with an average price target of $37.43.
  • Plug Power has supply deals with some major companies, including Amazon.

4. Sunrun (Run)

  • Searches per Month: 54,000
  • Current Share Price: $32.50

Founded in 2007, Sunrun provides photovoltaic systems that capture solar power to produce renewable energy.

The company’s power purchase agreement includes installing and maintaining solar panels on customers’ homes at no upfront cost. Sunrun then sells back energy to the customer at an agreed upon rate for 20-25 years.

Consider this before you buy:

  • Sunrun is one of the many renewable energy companies that are set to benefit from tax credits and incentives outlined in the Inflation Reduction Act.
  • The company already posted record quarterly revenue in Q3 2022.
  • The average analyst consensus is a BUY with an average price target of $48.74.

5. Bloom Energy (B.E.)

  • Searches per Month: 49,000
  • Current Share Price: $22.86

Bloom Energy, headquartered in San Jose, California, is a leading fuel cell manufacturer. Their servers convert natural gas or hydrogen into electricity without combustion.

Like Sunrun or Plug Power, Bloom Energy sells renewable electricity to consumers with the promise of nearly zero emissions.

Consider this before you buy:

  • CEO K Sridhar recently sold 11,500 shares of B.E.
  • The Inflation Reduction Act signed by President Biden includes huge incentives for clean energy, which benefits Bloom Energy and most other companies on this list.
  • Bloom Energy reported record second-quarter revenue and bagged a fuel cell contract with Ferrari. It counts major companies like Walmart and Adobe as customers.
  • Yahoo Finance analysts have a consensus rating of Hold.

6. Sunpower (Spwr)

  • Searches per Month: 46,000
  • Current Share Price: $25.18

Like some other renewable energy stocks on this list, SunPower provides photovoltaic systems, batteries, and software to homeowners in 50 U.S. States.

SunPower’s panels are designed to be more efficient than its competitors due to a patented design that reduces the amount of reflected sunlight and maximizes absorbed energy.

Consider this before you buy:

  • SunPower has been generating news by introducing a new lineup of batteries and expanding into commercial power generation.
  • Revenue increased in Q3 2022 but so did losses.
  • Analysts have a consensus rating of HOLD with an average price target of $24.69.

7. Cielo Waste Solutions (CMC.V)

  • Searches per Month: 41,000
  • Current Share Price: $0.07 CAD

Cielo Waste Solutions is a Canadian company focused on transforming the abundance of organic and other household waste into renewable diesel without producing harmful emissions.

The company applies a catalytic process to transform waste into liquid. This liquid is then heated to high temperatures, distilled, and heated at different temperatures to produce lower-carbon diesel and kerosene.

Consider this before you buy:

  • CMC is a highly volatile penny stock with barely any analyst coverage.
  • The Globe & Mail recently ranked CMC the most undervalued industrial stock on the Toronto Stock Exchange.

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This post was produced by Ash and Pri and syndicated by Wealth of Geeks.

Ash & Pri are the Founders of where they empower others to make smart money decisions across all aspects of life. They achieved financial freedom in their 30's and have traveled to over 30 countries, thanks to a disciplined approach to money management. Both hold an MBA degree and have 13+ years of experience in financial services, consulting, and telecommunications.