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According to The International Energy Agency (IEA), the renewable energy capacity is set to expand 50% between 2019 – 2024. Furthermore, according to a Facts & Factors report, the global renewable energy market is expected to grow at an 8.3% CAGR between 2021 – 2026.
While it could be challenging to select the best stock in the green energy industry because many highflying stocks don’t possess fundamental strength, we think investors looking to capitalize on the industry’s growth in a less risky way could bet on quality green energy ETFs — First Trust Global Wind Energy ETF (FAN) and Global X Renewable Energy Producers ETF (RNRG).
