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3 Energy Stocks to Make Your ‘Get Rich’ Dreams Come True

The global investment in clean energy is about to hit $1.3 trillion this year. As per a report from the International Energy Agency, clean energy has the potential to become mainstream and the investments in the sector will outpace the spending on fossil fuels as a result. Countries across the globe are taking every step to increase the production and usage of renewable sources of energy, and companies in the sector are set to thrive. 

The Inflation Reduction Act has benefited several industries in the sector and while the renewable energy segment has remained on the back foot for too long, it is now ready to take the spotlight. Investing in energy stocks that have the potential to produce energy to meet the soaring demands is a smart way to make the most of the upside.

If you believe in the future of a cleaner and greener world, invest in these high return energy stocks to turn your get-rich dreams into a reality. 

Plug Power (PLUG)

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One of the top high potential energy stocks, Plug Power (NASDAQ:PLUG) is a developer of hydrogen fuel cell systems. These systems have the potential to replace batteries and with the rising adoption of EVs globally Plug Power is set to benefit.

Hydrogen is one of the fastest-growing sectors. Top companies have begun to take a keen interest in hydrogen energy as a tool to reduce their emissions. With Plug Power building a green hydrogen system, it will likely enjoy a favorable treatment from the U.S. government. 

While the company has immense potential to grow in the long-term, it isn’t profitable yet. PLUG stock is trading at $10 right now and has dropped 20% in the past six months. It is trading much lower than the all-time high of $63 but the company has the potential to slowly reach there.

However, this could change very soon and the stock has the potential to soar.  The company recently won three electrolyzer contracts and signed a deal with Amazon (NASDAQ:AMZN) for the supply of green hydrogen. Plug Power closed another deal with Lhyfe (EPA:LHYFE), and rounds out the deals with a third one for Uniper’s (OTCMKTS:UNPRF) flagship project. The developer has several other contracts to deliver green hydrogen in progress, meaning it has managed to increase production and prove its potential.

As the demand for green hydrogen grows, we will see better numbers coming from Plug Power. Citi has a buy rating for the stock with a price target of $13 per share. If you want to make the most of the momentum towards green energy, PLUG stock is worth consideration. 

NextEra Energy (NEE)

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One reason I love NextEra Energy (NYSE:NEE) is that it blends two businesses into one: a utility and a clean energy company. This reduces the risk often associated with the investment.

Besides generating a steady income from the utility business, the company is also growing the clean energy business. It is a dividend stock that has seen an annual dividend rise for the last three decades. The company has a wide network of renewable resources including solar panels and wind turbines. It is one of the best energy stocks for wealth creation.

By shifting the focus to a cleaner energy source, NextEra Energy aims to double its capacity by 2026. On the earnings front, it aims to grow at 6% to 8% every year through 2026. Through this, it will be able to support the dividend increases.

In the first quarter earnings, the company saw a 132% revenue growth year over year and this is because of the expansion of its clean energy business. Its net income saw an impressive 562% rise year over year.

The stock isn’t cheap. NEE stock is trading at $74 today and has been moving upwards for the past month. This is a high return energy stock that should be held for the long term. Once NextEra Energy fully commits to renewables, there will be no looking back and your investment will reward you for your patience. 

Bloom Energy (BE)

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A clean energy leader, Bloom Energy (NYSE:BE) is trading at a discount today and is a great opportunity to buy. A high return energy stock to consider, the company is a manufacturer of solid oxide fuel cells and is gaining a foothold in the artificial intelligence industry. It was named a key energy supplier to data centers, which can be expected to drive better numbers in the coming quarters. 

Bloom Energy has reported strong quarterly earnings with a revenue of $275.2 million, a 37% rise year over year, and a lower operating loss of $63.7 million as compared to $65.7 million in the previous year. Its main product is the Bloom Energy Server, a very resilient and highly efficient electric power. This server is also cost-effective for all microgrid applications. 

The stock was high in February 2021, trading at $42, but has seen high volatility since the start of 2023. Today, it trades at $16 and is down 15% year-to-date.

BE stock is a high-risk, high-reward stock and it will take time for it to bounce back. Carnegie Capital Asset Management LLC increased its investment in the company by 140% in the first quarter. Bloom Energy has the potential to make it big in the energy industry, but the execution will be the key. If you are investing in BE stock, you need to stay patient to turn your get rich with energy stocks dream into a reality. 

On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.