While betting on coal, oil and natural gas has made sense for decades — and should continue to make sense for some time — our current reliance on fossil fuels can’t last indefinitely. Not only are such fuels environmentally damaging to various extents, but we have have a finite amount to work with.
Yet despite that reality, total world energy consumption is slated to increase by over 50% from 2008 to 2035.
The bottom line: We simply have to find new forms of energy — even if just as supplements as opposed to alternatives.
Of course, that’s where alternative, renewable energy sources like solar, wind, geothermal, hydrogen and others come in — they’re naturally occurring sources, are much friendlier to the environment, and theoretically shouldn’t run out. No wonder, then, that use of renewables is expected to triple or quadruple — depending on different policy scenarios — through 2035.
Thus, while the various alternative energy industries are wrought with volatile and even downright crummy stocks, it still could pay to make the right bets in the space. We look at three potential winners — two of which are already some of this year’s hottest names. Take a look: