Here is one item that surprised me a bit in the course of research project called the Singularity… After years of a lot of hype and false starts, the shift to renewable energy has finally begun to move ahead at a pace that has taken many by surprise.
2016 was a banner year for the sector. In a report, the International Energy Agency (IEA) said that renewables represented almost two-thirds of new net electricity capacity additions last year, with nearly 165 gigawatts (GW) coming online.
The IEA added that solar power was the fastest growing subsector, with generating capacity soaring by 50% in 2016 to over 74 GW. China accounted for almost half of the gain. The forecast from the IEA calls for another 660 gigawatts of solar power capacity to be added by 2022.
Even the biggest oil company in the world – Saudi Aramco – has taken notice. It called this disruptive macro trend a “global transformation” that is “unstoppable”.
These unstoppable macro trends are just the type of situations that spell profit opportunities for you. But before I get into some specific places for you to invest, let me fill you in more on what is driving the accelerated move into renewable energy.
Let’s jump into the drivers of this trend and three of the best stocks to profit from it.