This remarkable growth extends across all 50 states, signaling a widespread commitment to sustainable energy solutions. Furthermore, the Biden Administration has demonstrated its dedication to this cause by allocating a substantial $300 billion in Inflation Reduction Act funds specifically earmarked for green energy initiatives. 

• As the nation faces pressing environmental challenges and strives for energy independence, these developments signal a promising shift towards a more sustainable and eco-friendly future.
  
  According to EnvironmetAmerica, here are the topline findings in wind and solar energy production in the United States:
  
• The United States produced enough wind energy to power nearly 41 million typical homes in 2022 – 2.6 times as much wind energy as in 2013.
  
• The U.S. produced enough solar energy to power 19 million homes in 2022 – nearly 12 times as much solar energy as in 2013.
  
• The U.S. had 8.9 gigawatts of battery energy storage at the end of 2022, 60 times as much as in 2013 and 85 percent more than at the end of 2021, helping to support the use of more renewable energy and keep the lights on during extreme weather and times of grid stress.
  
• Energy efficiency improvements installed in 2021 will save 300 terawatt-hours of power over their lifetimes – enough to power 28 million homes for a year. Energy efficiency savings increased by about 20% between 2013 and 2021, the last year for which information is available.
  
• Americans bought more than 925,000 plug-in electric vehicles in 2022 – a more than 10-fold increase from 2013. Meanwhile, the number of electric vehicle chargers nationwide exceeded 151,000 – a nearly 18-fold increase from 2013.
  
• 14 states produce the equivalent of 30% or more of their electricity consumption from wind, solar and geothermal, up from just two states in 2013.

At current levels, solar and wind power generates enough electricity to power 60 million typical households. When you consider that there are an estimated 131.43 households in the United States, that’s a huge step toward clean energy and a reduced dependence on fossil fuels.

Our Top Solar and WInd Energy Stocks for 2024

Solar Energy: First Solar, Inc. (FSLR)

First Solar, Inc. (FSLR) is well-positioned to emerge as an industry leader in 2024 due to several strategic advantages. 

As a leading manufacturer of thin-film photovoltaic modules, First Solar boasts a technology that is both efficient and cost-effective, offering a competitive edge in the rapidly evolving solar energy market. With a strong commitment to sustainability and a focus on reducing its carbon footprint, the company aligns with the growing global demand for clean energy solutions. Moreover, First Solar’s consistent innovation in solar technology, a robust project pipeline, and its expanding global footprint indicate a solid growth trajectory. 

Its ability to navigate regulatory challenges and adapt to evolving market dynamics positions the company favorably as the world continues to shift toward renewable energy sources, making First Solar a prominent player in shaping the future of the solar industry in 2024 and beyond.

In a recent article, Reuters reported that First Solar plans to sell $700 million in Inflation Reduction Act (IRA) tax credits to payments firm Fiserv). These tax credits are designed to incentivize domestic production of clean energy products while reducing dependence on Chinese-made components.

TipRanks has issued a Strong Buy on FSLR, with 21 analysts issuing price targets between a low of $185 to a high of $275 by the end of 2024. The average price target is $230.68.

Wind Energy: General Electric (GE)

General Electric (GE) is well on its way to becoming a dominant player in the wind energy sector in 2024 due to its strong commitment to innovation, vast experience, and global presence. GE has been a pioneer in wind turbine technology for decades and has continually invested in research and development to improve the efficiency and reliability of its wind turbines. This dedication to innovation positions GE to offer cutting-edge wind energy solutions, making its products highly competitive in the market.

GE has a significant global footprint, with wind energy projects and installations in various countries around the world. Its expansive reach allows the company to leverage its expertise and provide comprehensive wind energy solutions, from turbine manufacturing to grid integration and maintenance services. This global presence not only enhances GE’s market share but also enables it to adapt to the diverse needs and regulatory environments of different regions, making it a versatile and adaptable player in the wind energy space.

Additionally, GE’s commitment to sustainability aligns with the increasing global demand for clean energy sources. As governments and businesses prioritize renewable energy to reduce carbon emissions, GE’s focus on wind energy positions it as a key contributor to achieving these sustainability goals. 

With a combination of advanced technology, global reach, and a dedication to environmental responsibility, General Electric is poised to play a dominant role in the wind energy industry in 2024 and beyond.

TipRanks has issued a Strong Buy on GE, with 12 analysts issuing price targets between a low of $120 to a high of $150 by the end of 2024. The average price target is $140.18.

Conclusion

The potential for solar and wind power to supply the majority of American households with clean and sustainable energy within the next few years is increasingly promising. The renewable energy sector has seen remarkable growth and innovation, driven by advances in technology, declining costs, and a growing commitment to combating climate change. Solar and wind power offer a compelling solution to reduce greenhouse gas emissions, decrease reliance on fossil fuels, and transition towards a more sustainable energy future.

One of the key drivers of this potential lies in the rapid expansion of solar and wind infrastructure across the country. Investments in solar panels and wind turbines have become more affordable, making them accessible to a wider range of homeowners and businesses. Moreover, federal and state incentives, along with supportive policies, have encouraged the adoption of renewable energy systems. The growth of distributed energy resources, such as residential solar panels, has further empowered households to generate their own clean electricity and even sell surplus energy back to the grid, thereby reducing dependence on conventional energy sources.

Additionally, the scalability of solar and wind power generation makes them well-suited to meet the energy demands of American households. With continued advancements in energy storage technology, intermittent generation issues associated with renewables are being addressed. The ability to store excess energy during periods of high generation and deploy it when needed ensures a more reliable and consistent energy supply. 

As we witness ongoing investments and commitment to clean energy solutions, there is a strong likelihood that a significant majority of American households will be powered by solar and wind within the next few years, contributing to a more sustainable and environmentally responsible energy landscape.

The post Could 2024 be a Pivotal Year for Solar and Wind Power? appeared first on Global Investment Daily.

All three of these stocks came out of the gate seeking what they believed was fair valuation. In each case, the stock price plummeted coming out of the gate.

How have they performed since their initial drop? Let’s take a closer look.

Arm Holdings (ARM)

ARM Holdings entered the hot chip and semiconductor market on September 14, 2023 priced at $56 dollars per share. It ran up to $69 within one day before it came crashing down to a low of $49.87. 

Last Report – October 18, 2023

ARM fell from a high of $69 down to a tight range between $50 and $56. Stochastics were oversold, suggesting a potential price reversal back to the upside

Updated Report November 9, 2023

After a brief period breaking below the $50 price level,  ARM is currently traveling near the upper boundary of its historical price range. Will price breakout to the upside, or will the $56 price level hold up as resistance? That remains to be seen, but the stochastic oscillator shows ARM being extremely overbought, signalling that a pullback in price may be imminent.

Instacart (CART)

The popular grocery delivery company that flourished during the height of the pandemic launched its IPO September 19, 2023 five days after ARM. The stock hit the market priced at $42 and plummeted down to a low of $24.50.  It then settled into a price range between 24.50 and $27.

Last Report – October 18, 2023

Updated Report November 9, 2023

CART just broke through the upper end of the $24.50-$27 price range, and is currently trading at $27.24 going into earnings. Will it start to grind its way up, or will it pullback to its historical price range? The earnings report could weigh heavily into the short-term direction of CART. Stochastics are nearing overbought territory, so keep an eye on a potential short-term price pullback.

Birkenstock (BIRK)

On October 11, 2023 German sandal maker Birkenstock (BIRK) launched its IPO. 

Last Report – October 18, 2023

Just like ARM and CART, BIRK debuted on Wall St. priced at $42 dollars per share, before quickly pulling back to $36 dollars.

After a three-day freefall, BIRK rallied back for 2 days, closing at $39.28 on October 17.

Updated Report November 9, 2023

Since our last report on October 18, BIRK has risen nearly 15% in price from $36.78 to $42.21. BIRK is now trading above its IPO prce of $41.

Conclusion

ARM, CART and BIRK all had rocky debuts on the Fall of 2023, but all three of them appear to have established a floor in pricing and have been grinding their way upward.

Of these three new IPOs, Birkenstock has shown the best performance to date.

We will re-visit these IPOs one full year after their debuts.

The post ARM, BIRK, CART Update. How are These New IPOs Performing? appeared first on Global Investment Daily.

But this playing field is about to become more crowded as plant-based food 2.0 throws up new players who will have learned from the mistakes of the pioneers. 

Still, last year was an epic one for the fake meat industry: In the space of just 12 months, vegan meats went from something very few Americans had even heard of to something that 40% had actually given a try.

It all started in the spring of 2019 after Impossible Foods struck strategic partnerships with Qdoba, Burger King and dozens of other restaurants and franchises. 

Soon thereafter, Beyond Meat started selling its products at several large restaurants including Subway, Del Taco (NASDAQ:TACO), Dunkin’ Brands Group, Inc. (NASDAQ:DNKN) and more recently KFC (NYSE:YUM). 

Although at first both companies entered the mainstream fast-food market by selling burgers, they have since launched more novel products such as Beyond’s ground beef and KFC chicken to Impossible’s sausages.

Source: Vox

The Trends Behind the Trend

Meat is a huge business in the United States.

According to the National Chicken Council, in 2018, Americans consumed 110 pounds of beef and pork; 94 pounds of poultry and another 16 pounds of commercial fish and shell-fish per capita for a combined 220 pounds of meat–more than 50 pounds higher than what they consumed in 1960.

That’s a colossal amount of meat, placing America second behind only Australia on the list of the world’s biggest per capita meat consumers.

This love affair with meat has helped build a $1.4-trillion industry, and meat alternatives are now coming in to stake their claim in this mammoth market.

How big could this budding sector grow?

Currently, the U.S. plant-based food market is valued at $5B with the plant-based meat sector approaching $1B. However, the sector has the potential to grow much bigger if the growth trajectory of plant-based dairy foods is any indication. 

Plant-based dairy foods have managed to garner some 14% of the dairy market, with plant-based food retail sales now growing 5x faster than total food sales. If vegan meat is able to replicate this feat, it could balloon to a $200B industry in the near future.

Indeed, sales of plant-based meat surged 280% at the height of Covid-19 thanks to widespread meat shortages and rampant closure of slaughterhouses around the world. 

Further, people are becoming increasingly wary of ‘animal-borne illnesses’ with the origin of the novel virus pinned on bats which spread it to humans in one of the deadliest cases of zoonotic spillover.

Here are the top trends that could power a vegan meat boom over the next decade.

#1 Health-conscious consumers

Over the past decade, global consumers have increasingly been opting for health foods with the global health and wellness food market poised to expand by $236B during 2020-2024 period, good for a CAGR of 6%.

Changing consumer tastes and preferences inevitably elicit the big question: Is plant-based meat a healthier choice than animal meat?

Some vegan meat skeptics have pointed out that many of these meat alternatives are highly processed and do not deserve the “health halo effect” they tend to receive simply on account of being vegan. Some studies have concluded that some vegan meats have calorie, fat and sodium content comparable to or even higher than beef. Still, the health evidence seems to tilt more in favor of vegan meats than animal meat. According to a large-scale 2016 Harvard study, processed red meat has been linked to significantly higher death rates than plant protein. The Harvard researchers found that plant proteins appear to be most protective from deaths linked to heart disease, especially among people with unhealthy benefits including smoking, heavy alcohol intake, overweight/obesity, and physical inactivity.

A total of 131,000 participants took part in the Harvard study which tracked them over 32 years. 

More and more people though are opting for vegan meat due to another big reason: They are healthier for the environment.

Beyond Meat says it takes about 41 square feet of land and 58 gallons of water to produce one 0.25-pound beef burger, not to mention that our 1.4 billion head of cattle are responsible for 40% of our annual methane budget–a gas that’s 80X more potent than CO2 at trapping the sun’s heat.

A recent Bank of America Merrill Lynch survey revealed that 35% of respondents said they opted for plant-based protein due to health or nutrition reasons while 30% did the same for environmental reasons.

Yet another reason why more people are choosing plant-based meats: Fake meats are getting ever closer to the real thing.

Meat is a highly complex substance and incredibly difficult to synthesize artificially. Nevertheless, plants contain protein, fat, water and trace materials–the four main building blocks of meat. Further, scientists have made rapid progress making plant-based meats that are virtually indistinguishable from beef for the average consumer.

That’s a critical milestone because experts agree that taste will be the big make-or-break factor for the vegan meat industry. The Beyond Burger and Impossible Burger have received positive reviews at Food & Wine while traditional veggie burgers have scored much lower.

The most bullish finding: More than half of respondents, both young and older folks, who have tried plant-based meats say they are likely to come back for more.

Source: Vox

#2 Ballooning market

Fake meat stocks have lately gone parabolic, with Beyond Meat leading the arena with a 145% gain in the year-to-date and 640% since its May 2019 IPO thanks to continuing robust topline growth.

Beyond Meat revenue for the quarter ending June 30, 2020 clocked in at $0.113B, good for a 68.53% year-over-year increase while revenue for the twelve months ending June 30, 2020 was $0.401B, a 142.58% Y/Y increase.

Bullish Wall Street analysts have pointed to the rapid growth of the total addressable market of alternative meats. Barclays analyst Benjamin Theurer has estimated that Beyond could capture about 4.5% of global market share of alternative meat over the next decade, which would imply a 3,000% revenue jump.

As we have pointed above, the alternative meat industry could balloon to a $200B industry if vegan meats are able to grow as fast as their plant-based dairy sector brethren.

#3 Meat-loving China

Although China is home to 18.5% of the world’s population, the country consumes 27% of the world-wide meat production. China’s love-affair with meat has led some analysts to believe that it could become an important market for vegan meat companies once the Chinese become more aware of the health and environmental impact of meat products.

Impossible Foods and Beyond Meat have already shown strong intentions to capitalize on this market with Beyond Meat previously announcing plans to commence vegan meat production in China by 2020-end. Impossible Foods’s sausages could also find a ready market there considering that China currently consumes the largest amount of pork of any country in the world.

Stocks to Buy

The meatless meat boom has helped vegan meat stocks go ballistic, leading to a cross-section of Wall Street warning that some have turned into cult stocks whose share runs have outpaced their fundamentals.

Beyond Meat is frequently in the news due to its huge runup since its IPO. Lately, BYND has been slipping after Bernstein lowered the producer to an Underperform rating after having previously slotted it at Market Perform. The analyst’s $136 price target represents 26% downside to current price.

Despite valuation concerns, the long-term outlook for the industry appears bright with the long growth runways allowing many players time to grow into their steep valuations.

The top picks in this sector include:

• Beyond Meat (NASDAQ:BYND)

• Tyson Foods (NYSE:TSN)
• ConAgra Brands (NYSE:CAG)
• Kellogg (NYSE:K)
• Maple Leaf Foods (OTCMKTS:MLFNF)
• Forum Merger II (NASDAQ:FMCI)

The post The Meatless Meat Boom is Just Getting Started appeared first on Global Investment Daily.