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5 Renewable Energy Penny Stocks to Diversify Your Portfolio

by | Jul 26, 2021

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Wind turbines representing renewable energy penny stocks.

Renewable Energy Basics

Renewable energy and sustainable energy are buzzwords we keep hearing, but many of us still don’t know what exactly classifies as renewable energy. 

So, the folks at the U.S Energy Information Administration have put together a comprehensive list of different possibilities and their respective functions. 

 

What is renewable energy?

Renewable energy is a resource we can use that replenishes itself. This means things like wood, solar power, and wind power are classified as renewable. There is one slight caveat. 

While alternative energy resources are plentiful over time, they are limited in power at any single given moment. 

This means we can only use what is available at the moment. 

 

What can we do with renewable energy?

Renewable energy has lots of uses. We can power our homes with solar panels or wind turbines and heat our homes with wood stoves. Cars and farming equipment can be altered to run on biofuel. 

Even human waste can be transformed into biofuel to heat homes or run vehicles! We are looking at how renewable resources were used in the past and how we can transform them into our future.

 

So, why is it such a popular topic in the world of investing? 

Climate change has been a hot topic for the last two decades. Concerns about our dependence on fossil fuels and how it affects our environments are being vocalized daily. 

Scientists are looking at the astounding number of people on the planet and the limited resources we are using. The Biden Administration is pushing to reduce our usage of fossil fuels by a whopping 50% by 2030. President Joe Biden made a point to include supporting companies in finding innovative ways to harness renewable resources and incentives for job creation around sustainable energy. Even during the novel COVID-19 pandemic, the industry is seeing incredible growth.

In this article, we are going to introduce five renewable energy penny stocks to put on your watchlist. These best penny stocks show lots of promise and meet the affordability that is for any budget. 

 

The Top 4 Renewable Energy Penny Stocks to Watch Closely

 

Denison Mines (NYSE: DNN)

The first on our penny stocks list is Denison Mines. Denison Mines is known as a top uranium mining company in the world and finds its place on many green energy penny stocks lists. 

They have mines in Canada, primarily in the Saskatchewan region. Uranium is used in nuclear plants, which is a renewable resource and clean energy option. 

Uranium is also used to help create steam. The steam moves a turbine and creates electricity that can power large cities. But that is not the only reason to watch Denison Mines. 

They are also committed to rehabilitating the land once a mine closes. It is a part of their conservation efforts to promote healthy environments that were once mined.

Denison Mines is doing quite well on the stock market. The stocks are currently under $2 and are growing at a substantial rate. In the past year, the stock grew 200% and is slated to continue its upward trend. There have been some drops here and there, and we encourage reviewing their latest financial statements to educate yourself further.

 

Ocean Power Technologies (NASDAQ: OPTT)

When it comes to the leaders in hydropower, Ocean Powers Technologies is the company to watch. This company was founded and headquartered in Monroe Township, New Jersey. Their primary focus is providing no-carbon energy to offshore industries, research groups, and territorial security. 

The power is consistent, communications are real-time, and data is available at any time of the day. Best of all, emissions are minimal in comparison to other renewable resources. 

Stocks have done fairly well over the last year. We have witnessed a growth of over 200%, however, there have been some pitfalls. There was a significant drop in March of 2021. It rebounded but there has been a losing streak since. 

So why is it making the list?

It has been growing very slightly in the energy sector since May of 2021 and we are expecting to see more growth. Buying now, when stock is below $5 a share, can mean greater returns in the long run.

 

NexGen Energy (NYSE: NXE)

Nuclear energy is finding a lot more support in recent years and that may be due to companies like NexGen Energy. This Canadian company is devoted to uranium mining to provide for the 440+ nuclear plants worldwide

What sets them apart from the others is their devotion to the community. They consider their involvement in the Saskatchewan community a vital one and are determined to support others while being responsible for their energy sources. 

Their alternative energy stocks have remained affordable while growing over 200% in the past year. At the time of publication, its market cap is at $2.4B.

If you watch their history, there have been some drops in value but they have always rebounded easily. This is a fairly good sign of a sustainable company to support. 

 

Tantech Holdings (NASDAQ: TANH)

Zhejiang Tantech Bamboo Technology Co., Ltd is a part of Tantech Holdings and is one of the more fascinating companies on this list. 

Their focus is on bamboo charcoal products and they are a one-stop shop with R&D, manufacturing, and sales. Bamboo charcoal is used in industrial applications, home cooking, agricultural uses, cleaning, heating, and purification processes.

Most recently, the company acquired a vehicle company that will focus on electric vehicles.

 

Your Renewable Energy Stock News with WALLSTNOW

So, you want to trade penny stocks. With renewable energy seeing an enormous amount of political backing from President Biden as well as private support, now is a great time to get in on the clean energy stocks and enjoy a good investment. 

Technology, biotech, financial institutions, and healthcare sectors all benefit from renewable energy. Solar energy has also seen growth, despite the fact that we have not highlighted them in this list. Solar stocks are some of the top penny stocks to engage with as well.

Want to keep up with energy companies, energy stock news, ETFs, and all things financial? Subscribe to our newsletter and we will keep you up to date on everything that can help your investment portfolio!

Disclaimer: All investments involve the risk of loss. Nothing on this website should be misconstrued as investment advice. Any reference to an investment’s historical or projected performance is not a recommendation or guarantee of profit or desired outcome.

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