This week, the World Resources Institute released a report on the current outlook for renewable energy. The report, which objectively covered many recent renewable wins, admitted that “the biggest factor influencing the future of U.S. clean energy development will be results of the 2024 presidential election.” And, like infrastructure, some renewable energy stocks stand to benefit from the imminent election frenzy.

Renewable energy has been top-of-mind for multiple election cycles, with discussions centering on solar tariffs, tax credits, and how aggressive climate goals should be. No matter which candidate wins in November, one thing is sure—these renewable energy stocks stand to benefit.

Renewable Energy Stocks: Brookfield Renewable Partners (BEP)

Brookfield Renewable Partners (NYSE:BEP), like the infrastructure equivalent I covered earlier this week, is somewhat like a private equity investment opportunity for average investors. BEP is a management fund that owns a range of clean and green energy portfolio companies across sectors as diverse as solar, hydroelectric and wind farming.

After a slow year, BEP closed out with a strong fourth-quarter earnings report that included an announced 5% dividend distribution increase, marking the 13th consecutive year BEP has raised its dividend by 5% or more. Its forward yield sits at a solid 5.9%, a rate rarely seen among renewable energy stocks.

However, that wasn’t the only good news for renewable energy investors in BEP’s report. The company also posted a record funds from operations rate of $1.1 billion, more than 7% higher than in 2022. Brookfield Renewable CEO said that, “2023 was a record year for our business on almost all metrics. We generated record FFO per unit, added almost 5,000MW of capacity through development, and deployed or committed $9 billion into growth along with our partners.”

Notably, in addition to financial successes, BEP’s solar companies were particularly successful, handily beating revenue from wind and hydroelectric alike. That’s important as BEP’s solar strategies focus on large commercial and corporate clients—and the segment was a loser for the past few years. Solar’s success for BEP might prove to be the pivot point towards accelerated growth for the unique renewable energy stock.

Nextracker (NXT)

Nextracker (NASDAQ:NXT) is a unique play among solar stocks in that its core product targets solar producers of all types. Specifically, Nextracker creates the little tracking systems you see powering solar panels that follow the sun for maximum power generation. While retail and residential consumers usually see them used on the little flower-shaped solar panels, Nextracker’s scope is far larger, directly targeting massive solar farm sources. Nextracker claims that its tracking systems increase yield, protect against weather, and more. Thus far, the market agrees with Nextracker’s value proposition.

Unlike many solar stocks, Nextracker is a renewable energy stock with plenty of demand pushing sales higher. Its recent earnings report highlighted a 38% year-over-year (YoY) revenue increase and a whopping 168% EBITDA increase. The Nextracker CEO affirmed current sales strength, saying that “Solar is unstoppable” and that the sector is set to double every two or three years against an “unprecedented period of demand growth.” That bout of good fortune is seemingly just benefiting Nextracker as the wider sector is down a solid 21% this year compared to NXT’s 25% climb. A renewable energy stock able to buck the trend in the right direction is a renewable energy stock poised to explode once wider market sentiment cycles back into solar’s favor.

Sprott Junior Uranium Miners ETF (URNJ)

Surprised to see a nuclear-oriented ETF like Sprott Junior Uranium Miners ETF (NASDAQ:URNJ) on a list of renewable energy stocks? Well, nuclear is seen as increasingly viable compared to solar, and recent tailwinds may push uranium prices into record territory.

Global supply risks dwindling on the heels of Kazakh company Kazatomprom, cutting annual forecasts by 2% . Basic economics tells us that continuing demand and reduced supply mean higher commodity prices, in this case for uranium—and the renewable energy uranium ETF is seeing record inflows on that premise.

However, demand isn’t just steady in the face of reduced supply: it’s growing. National legislators are increasingly pushing for nuclear energy as a substitute for solar. For example, December’s Nuclear Fuel Security Act prioritizes national nuclear management. Ongoing emphasis on uranium will likely come up as part of the election debate cycle, so expect URNJ to benefit in the meantime.

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.