Initially, renewable energy was seen as an investment not worth considering due to limited returns. Nevertheless, technological growth, cost reduction, and the need to adhere to carbon reduction regulations have made this sector lucrative. Research by the International Energy Agency reveals that the price of solar energy is more affordable than that of fossil fuels generating electricity.
Goldman Sachs explained that renewables’ investment would supersede fossil fuel investments for the first time in the energy industry. Renewable energy will be contributing to a quarter of the total energy capacity come next year, surpassing the other energy sources. The following ten companies in the renewable energy sector are performing exceedingly well and will help the renewable energy sector take over the position that fossil fuels have long held.
First is Siemens Gamesa Renewable Energy, which, apart from generating renewable energy, also develops wind energy production equipment. Additionally, the company provides technical advice and production regulations that facilitate the installation of wind technology. The company subdivides its activities into two: the wind turbine production section and the department that oversees operations and maintenance. The first department develops wind turbines of different technologies, manufacturing procedures, and the distribution of the energy generated to the grids or the consumers.
The operations and maintenance department is responsible for servicing and supervising wind farms. Additionally, this section manages the branches of the company in different countries. Next is Canadian Solar, which offers solar power products, services, and installation operations. The company offers these services in Africa, Europe, Australia, Australia, and the other continents where it has its branches. Canadian Solar has two divisions: the module and system solutions division and the other dealing with Energy its plans and component development.
The module division deals with design, development, and solar components. On the other hand, the energy division deals with solar energy project designing, technical procedures, and installation systems. The company is currently operating at $3.2 billion in revenue and a net income rounding up to half a billion. SunPower Corp follows in this line as it offers energy production storage and other energy operations. The company boasts of its two best-performing subsidiaries named Equinox and EnergyLink. Equinox supplies alternating current engineering while the latter integrates solar energy generation with energy procurement in a secure connection. The company is currently operating at $1.9 million in revenue while the net profit rounds out of $8.4 million net income.
Finally, the other companies doing well in the industry are Renewable Energy Group located in the US, First Solar offering photovoltaic solar panels, Brookfield Renewable Partners, which produces renewable energy resources, and JinkoSolar Holding. The other companies are Orsted, Vesta Wind Systems, and Iberdrola, located in Spain. All these companies have displayed positive stock values with the incoming transition to clean energy.https://globeoftech.com/