We are in the midst of an energy revolution. As the world transitions from carbon-intensive energy to renewable energy, industries will be disrupted and new, winners will be crowned. And the right investments will let any of us share in the winnings.

But the renewable revolution requires batteries — and lots of them. Oil, gas and coal succeeded because they pack an incredible amount of energy into an extremely efficient package. The energy liberated by breaking carbon bonds can power a piston, boiler or engine. And carbon-based energy is extremely easy to store and move from place to place. Batteries will need to be just as efficient if they are to replace carbon-based energies completely.

Not only that but batteries are needed to smooth out production and consumption. A solar panel and a wind turbine can produce a huge amount of energy. But you can’t stick a wind turbine on your car. And you can’t get solar power for half of the day. Without batteries, excess power is wasted, and nothing is available when it’s gone.

The governments of the world are pushing for renewable energy. And the markets are demanding cheaper energy, which can only come by replacing carbon with renewables. There’s never been a better time to invest in the battery stocks. So, here are the top battery stocks to buy right now.

Tesla (TSLA)

Tesla’s (NASDAQ:TSLA) biggest advantage over other electric vehicle (EV) manufacturers has long been its battery technology. It has long shown the ability to make cheaper, longer-lasting batteries than anyone else in the industry. The company’s dominance continues today. It is not only a top EV company, its batteries are also available for the home market.

Tesla’s Powerwall is a line of home batteries intended for use alongside solar panels. The batteries continue to get high reviews, and the newest Powerwall 3 will be coming out soon in 2024. The great thing about Tesla’s batteries is they slot in well to every part of its business. Both home solar and EVs benefit from every improvement in battery technology.

And even if another startup does produce a better battery, Tesla has the free cash flow to buy them outright. That happened in 2021 when the company secretively acquired a Canadian startup to cut battery prices in half. And it happened in 2019 when Tesla acquired another Canadian battery company. If new batteries are developed in Canada, Tesla will be hunting them like a bloodhound.

Tesla continues to post better earnings than any other car or battery company in the world. Recently, the company’s costs have been rising faster than revenue. Still, its latest earnings report showed energy generation and storage revenue increasing by 40% year-on-year. The market for Tesla’s home batteries has plenty of room to run.

There are three reasons Tesla has revolutionized EVs and become one of the most valuable companies on Earth — batteries — batteries — batteries. Among the top battery stocks, TSLA stands high above the rest.

NextEra Energy (NEE)

NextEra Energy (NYSE:NEE) is a giant in the energy field. As the world’s largest generator of renewable energy, NextEra knows the key to renewables is storage. After all, what do you do when the sun isn’t shining and the wind isn’t blowing? Without storage, you have no choice but to turn back on a coal or gas source.

That’s why NextEra Energy is also the world’s largest energy storage company. Its installed battery capacity is head and shoulders above its competitors. In Q3 2023, it installed nearly as much storage as its nearest competitor had total capacity. With multiple major storage projects still ongoing, NextEra is becoming a key beneficiary of the battery revolution.

NextEra has not always had its own way this year. NEE stock dropped more than 28% year-to-date as the high-interest rate environment dampened growth. But it seems analysts underestimated it. NextEra beat estimates in Q3 2023, and CEO John Ketchum expects to continue beating them every year through 2026. That’s a big boast to make, but if he’s right, now is the best time to buy in.

As for those earnings, NextEra’s revenue grew faster than operating expenses. It is still growing on the right track, even while other expenses weigh the company down. And with more storage and renewable power coming online every year, NextEra is a top battery stock that should be on everyone’s watchlist.

QuantumScape (QS)

QuantumScape (NYSE:QS) has had a wild ride in 2023. With precipitous ups and downs, its stock price is currently flat year-to-date. But the company could rocket up again if its solid-state EV batteries take hold.

Unlike other companies that use batteries as part of their core business, QuantumScape is a pre-revenue company developing the batteries of the future. It is working on solid-state batteries, promising higher energy density, lower cost and more safety. Higher energy density is also a cost-saver all on its own as it means a smaller, lighter battery. That, in turn, means the rest of the car can be smaller, lighter and cheaper.

The science behind QuantumScape’s batteries is sound. There is significant research showing the superiority of solid-state batteries over current lithium-ion batteries. But putting that research into practice will take time and money.

Speaking of money, a major contributor to QuantumScape’s stock remaining flat was the public offering announcement it made in August. Shareholder dilution will always cause such movement. But the move is worth it if it puts the company on a stronger footing.

QuantumScape’s most recent earnings report shows $1,100 million in cash and securities. With a net loss of $110 million, the company has roughly 2.5 years of runway. An investor should be cautious of dilution, as that money can go fast. But QuantumScape offers the best opportunity to invest in the batteries of tomorrow. Considering how revolutionary the batteries of today have been, QS is one of the best battery stocks to buy today.

On the date of publication, John Blankenhorn did not hold any positions (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.