The Quiet Revolution: Three Companies Capitalizing on Renewable Energy Growth
Key Ideas
- NuScale Power is developing small modular nuclear reactors with future revenue potential despite current lack of revenue.
- Plug Power focuses on hydrogen fuel cells for various applications and may benefit from NuScale's advancements in hydrogen production.
- Occidental Petroleum, though not a renewable energy stock, is still positioned to benefit from the growth in the sector.
- The renewable energy industry is expected to grow at an average pace of 9.5% through 2033, with the fuel cell market predicted to grow by more than 21% per year through 2033.
The article discusses the significant growth potential in the renewable energy sector, highlighting three companies poised to benefit from this trend. NuScale Power, specializing in small modular nuclear reactors, is expected to see revenue growth despite the current lack of revenue, with several projects in the pipeline. Plug Power, a hydrogen fuel cell manufacturer, may benefit from advancements in hydrogen production, especially through NuScale's nuclear reactors. Occidental Petroleum, though not primarily a renewable energy stock, is also seen as a potential beneficiary of the sector's growth. The renewable energy industry is projected to grow at a rate of 9.5% annually through 2033, with the fuel cell market predicted to expand by over 21% per year during the same period. The article also touches on the challenges faced by these companies, such as regulatory uncertainties and the need for more infrastructure to support the growth of renewable energy technologies.