Green energy stocks are some of the best growth stocks you can buy for the long run. Not only does the industry have tonnes of momentum and growth potential, but it also offers years of opportunity for investors.
From power generation going greener and electric vehicles impacting transportation emissions like we see today to industries like agriculture and manufacturing, significant steps will be needed to slow and eventually reverse the devastating effects of climate change.
So if you’re looking for a way to help the world go greener and gain some exposure to some of the best companies in Canada, here are three of the top green energy stocks to buy today.
A massive energy giant
One of the top stocks to consider if you’re interested in buying a green energy stock for the long run is Enbridge (TSX:ENB)(NYSE:ENB).
Enbridge is a massive energy giant. And while it makes the majority of its income through its pipeline business, transporting oil and natural gas, it’s also an extremely well-diversified company that owns a massive utility company in addition to several other business segments.
Like any prudent company, Enbridge is always looking to the future. So for almost 20 years, the company has been investing in renewable energy and now boasts one of the largest portfolios of any stock in Canada.
It may not exclusively be a green energy stock, but Enbridge is one of the top energy companies you can own. And over the years, you can bet that renewable energy will only continue to grow its share of Enbridge’s business.
So if you’re looking for a high-quality stock that pays an attractive dividend and you can own for decades, Enbridge is always a top choice.
A top green energy stock to buy for long-term growth
If you’re looking for a company that’s much more focused on green energy generation, Northland Power (TSX:NPI) is one of the best to buy.
The company has been one of the top growths stocks in the industry for years and continues to have an aggressive strategy to grow its portfolio over the next half-decade.
Between a mix of value accretive acquisitions and organic growth projects, Northland plans to spend up to $20 billion to expand its operations, making it an excellent green energy stock to buy today.
Plus, on top of the fact you’re buying a great company, Northland is also trading at an attractive valuation. The stock is now 20% off its 52-week high, offering investors an excellent entry point.
So if you’re looking to buy a high-quality green energy stock to own for years, Northland is one of the top companies to consider.
A leading cleantech stock
Finally, one of the best opportunities for growth in green energy is with cleantech stocks like Greenlane Renewables (TSX:GRN).
While Cleantech is still an industry that’s in its early stages, it’s one that will be crucial to meeting our climate targets and reversing the effects of global warming.
Greenlane is particularly attractive because it’s helping to clean up two of the most important sectors in the global energy system, the natural gas grid and the transportation sector.
The company is one of the leading providers of biogas upgrading systems. These plants collect raw gasses produced at places like landfills, wastewater treatment centres and farms, and then purify the gas to create low-carbon renewable natural gas. This renewable natural gas can then be used by utility companies or even as fuel for vehicles.
This process is crucial because it not only helps keep emissions down by trapping the raw gasses but also reuses those gasses more cleanly.
Currently, Greenlane already has operations in 19 countries and is expanding its operations rapidly. So if you’re looking for a high-quality green energy stock to buy and hold for years, there is a tonne of potential with a cleantech stock like Greenlane.
