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Feature Article

Best Renewable Energy Stocks to Bet on an Emerging Recovery

By Roger S. Conrad on May. 9, 2024

For the first time ever, solar energy accounted for “more than half” of US electricity generation additions in 2023: That’s from a report released this week by Wood MacKenzie and the Solar Energy Industries Association.

Total installed capacity was also a record at 32.4 gigawatts. That was up 51 percent from 2022 levels and 37 percent above 2021, the previous record year for solar installation. And utility-scale dominated at 69 percent of the total.

Remarkably, the leading solar deploying states lack renewable energy mandates. This month’s Conservative Focus stock Southern Company (NYSE: SO), for example, plans nearly 20 GW of new solar in Alabama, Georgia and Mississippi by 2030. NextEra Energy’s (NYSE: NEE) FPL utility unit in Florida plans 21 GW of new solar in its service territory by 2033, increasing from 6 percent of total generation in 2023 to 38 percent by 2033.

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