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3 Top Renewable Energy Stocks to Buy Right Now

3 Top Renewable Energy Stocks to Buy Right Now

This trio of renewable energy companies offer investors a compelling blend of growth and yield.

The COVID-19 outbreak has had a tremendous impact on the energy sector this year. Even the renewables industry hasn't been immune, as demand for new solar panels has cratered, forcing manufacturers to temporarily suspend production.

However, while demand for new capacity might be facing some headwinds, renewable energy consumption remains steady because utilities continue to favor it over fossil fuels. Because of that, companies that operate these facilities have continued to produce stable earnings. That makes them ideal stocks to buy, especially for investors seeking lower risk exposure to the sector.

Three that stand out right now as the top buys are Brookfield Renewable Partners (NYSE:BEP), Clearway Energy (NYSE:CWEN)(NYSE:CWEN.A), and NextEra Energy Partners (NYSE:NEP).

The gold standard in renewables
There haven't been too many bad times to buy Brookfield Renewable Partners. Since its inception nearly 20 years ago, the company has generated a 17% total annualized return, which is light years ahead of the S&P 500's 5% total annualized return. It has also crushed the market during the last three- and five-year periods.

The renewable-power producer aims to continue generating market-beating returns, with its stated goal to produce total annualized returns of 12% to 15% over the long term, powered by a steadily growing dividend.

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