This Renewable Energy Stock Will Power Your Portfolio for Decades
The iShares Global Clean Energy ETF is off by about a third since its early-year highs in 2021. That suggests that clean energy stocks are already in a bear market, including the roughly 30% drop in the value of Brookfield Renewable Partners (NYSE: BEP). Wall Street tends to go to extremes, though, so this could be a good opportunity for long-term dividend growth investors to jump into the clean energy space, and specifically Brookfield Renewable Partners. Here's why this partnership could help power your portfolio as the world's energy markets increasingly go green.
The big clean energy stories in recent years have been in solar and wind. They are clearly important, but investors often forget that there are other forms of clean energy, notably hydroelectric. This is a very old technology that is reliable, well developed, and can provide baseload power (the minimum amount of power needed to be supplied to the electrical grid at any given time), which is something that intermittent solar and wind can't do. Hydroelectric makes up around 50% of Brookfield Renewable Partners' cash flow.
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Source Fool.com
