The renewable energy sector has been growing at a rapid pace for years, thanks in part to increased demand, as well as lower costs for manufacturing renewable energy assets such as solar panels. One recent estimate is that renewable energy doubled from 2000 to 2018, and overall accounts for about 17 percent of all energy use in the United States.
That means alternative energy stocks, focused on anything from utilities to electric vehicles, should be a hot market for years to come. And renewable energy sources don’t require the vast expenses for exploration compared to traditional fossil fuels like oil.