Clean energy is poised for phenomenal growth over the next several decades as the world races to reduce its reliance on fossil fuels. This provides an ideal path for investors who are seeking the best clean energy stocks to buy.
Investors are seeking opportunities that not only align with their ethical values, but also promise substantial returns on investment. The growth of the solar, wind, hydrogen, hydroelectric and energy storage market will provide ample opportunity to capitalize on the energy transition. While the overall clean energy sector is packed with promise, some individual stocks could offer a remarkable chance for 300% gains or more by 2028.
Now, let’s discover the top clean energy stocks to buy with 300% upside or more by 2028!
Linde (LIN)
Linde (NASDAQ:LIN) might seem like an odd choice for a clean energy portfolio. However, this industrial gas giant plays a pivotal role in the advancement of the hydrogen economy.
Linde is a powerhouse in the industrial gas market. They’re the world’s largest industrial gas company by market share and revenue. What makes their business extremely appealing is that they cover the full spectrum from manufacturing to distribution with more than 100 gases and mixed gases in their portfolio. However, their growing long term growth prospects in the hydrogen market have investors excited. The company has committed $1.8 billion to new hydrogen projects to new and existing customers in the Gulf Coast. Additionally, management plans to invest between $7-$9 billion into clean energy infrastructure by 2026. As the global demand for hydrogen soars, Linde is positioned to reap tremendous benefits. This makes Linde one of the top clean energy stocks to buy in 2024.
ON Semiconductor (ON)
ON Semiconductor (NASDAQ:ON) semiconductors are integral to the clean energy revolution, enabling the development of power-efficient technologies. The company primarily focuses on power and sensing solutions, which are key elements in electric vehicles (EVs), solar power grids, and energy storage systems.
ON Semiconductor’s valuation becomes more appealing by the day, even despite the recent headwinds to the business. Inflation and higher interest rates has had an extremely negative impact on the EV and clean energy markets. Over the last 12-18 months, there has been a broad slowdown in buying and construction activity. This has been a crutch to their business, which saw its revenue flat in the 2023 fiscal year. However, even despite these challenges the business has remained resilient. In Q1 FY24, revenue fell 5% YOY with EPS up a modest 1%. But things won’t look so meek towards the end of the year. If you’re bullish on a rebound in the EV, clean energy and energy storage markets, ON Semi is certainly one of the best clean energy stocks to buy now.
Ferrari NV (RACE)
Ferrari NV (NYSE:RACE), the iconic luxury sports car manufacturer might seem like an unconventional inclusion in the clean energy sector. However, their steadfast commitment to sustainability makes them a candidate to keep on your radar.
Ferrari stock has been on a tear over the last several years. The company has been reinvigorated as revenue, profits and FCF accelerate to record highs. This can be largely attributed to management’s strong execution, as well as operational and brand expertise in the luxury car market. Ferrari is slowly turning into a clean energy titan, with the company vowing that 60% of its models will be fully electric or hybrid by 2026. The ball is moving forward fast, and the company plans to release the first ever fully electric Ferrari GT with up to 1000 horsepower. Moreover, they have set ambitious goals of becoming carbon neutral by 2030. With net earnings surpassing $1 billion for the first time in FY23, the future remains extremely bright for this upcoming clean energy titan.
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions 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.
