Forget Oil Stocks: Buy Renewable Energy Stocks Instead

To say the oil sector has hit a rough patch is the understatement of the year. First we had the big oil price crash in March. That gave way to coronavirus-related travel restrictions, which dried up demand for oil-based fuel. Now analysts are concerned about oversupply and a lack of global storage capacity. What's an energy investor to do?

Well, the obvious answer is, don't invest in oil stocks. Instead, the time may (finally) be right to put your money into renewable energy stocks. That's true even though shares of renewables have largely outpaced shares of oil companies since the big market crash. Here's why renewable stocks like asset manager Brookfield Renewable Partners (NYSE: BEP), renewable yieldco Atlantica Sustainable Infrastructure (NASDAQ: AY), and utility NextEra Energy (NYSE: NEE) look like better additions to your portfolio.

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