5 Solar Penny Stocks to Keep on the Radar in 2022
The use of solar energy is growing as fossil fuels are being replaced. Investing in solar penny stocks has the potential to make investors a lot of money.
Changing to a low-carbon economy will take decades. However, it can be worthwhile looking into solar companies, with most of their stocks priced under $5. Let’s take a closer look…
The Transition to Solar Energy
A key strategy for phasing out carbon pollution in America is reorienting the country to clean, renewable energy by 2050. Energy is the major source of global emissions and holds the key to responding to climate change.
There’s an unstoppable change taking place in the electric power sector. In the words of the Director-General of the International Renewable Energy Agency, Franceso La Camera, “2020 marks the start of the decade of renewables.”
In 2001, America produced one-half of one percent of its electricity with wind, solar and geothermal energy. That year, the Department of Energy forecasted that by 2020, the number would double – to a rough 1%. Renewable energy growth surpassed the prediction… and then some. Today, more than than 10% of America’s electricity comes from the wind, the sun and the earth.
With this in mind, solar penny stocks continue to appear very promising. Let’s take a look at each one in more detail…
5 Solar Penny Stocks to Consider
- Sunworks (Nasdaq: SUNW)
- SunHydrogen (OTC: HYSR)
- Orbital Energy Group (Nasdaq: OEG)
- Solar Alliance Energy (OTC: SAENF)
- Spectacular Solar (OTC: SPSO)
Solar Penny Stock Highlights
Sunworks is a leading provider of high-performance, efficient solar power systems. The company serves a wide range of industries. This includes residential, commercial, agricultural, industrial and public works sectors. It has a reputation for its solar energy projects operations and development services.
Sunworks provides project management, solar performance assessment, procurement, installation and financing services. The company is also a member of the Solar Energy Industries Association (SEIA).
SunHydrogen is a solar technology company headquartered in California. The company has developed breakthrough technology that produces renewable hydrogen using sunlight and any source of water. The company’s solution stands apart from other fuel resources because it doesn’t emit CO2 – the only byproduct is water.
SunHydrogen plans to scale its business for distributed hydrogen production for renewable electricity and hydrogen fuel cell vehicles. On its website, SunHydrogen states that it believes its solution will produce the lowest cost renewable hydrogen available on the market today.
Orbital Energy Group
Orbital Energy Group provides electric power and solar infrastructure, as well as integrated energy infrastructure solutions and services. The company operates in the United States and the United Kingdom. The company is made up of several businesses including Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems. Here are some of the business highlights…
Orbital Power Services is a full-service installation company. It provides solutions for power, utilities and midstream markets. The business services include engineering, construction, maintenance and emergency response solutions.
Orbital Solar Services is headquartered in North Carolina. The company specializes in the delivery and management of renewable energy construction projects.
Orbital Telecom Services is headquartered north of Atlanta. The company operates through Gibson Technical Services. It has locations across the country that support multi-vendor OEM technology environments and outside plant construction operations as needed.
Orbital Gas Systems is a provider of custom-built engineering solutions in the UK. The company has state-of-the-art capabilities to provide systems that meet client needs. The company operates through the design, installation and commissioning of industrial gas sampling, measurement and delivery systems.
Solar Alliance Energy
Solar Alliance is a commercial, industrial and residential energy solutions provider. The company provides solar installations throughout the southeastern United States.
The company operates in Tennessee, Kentucky, North Carolina and South Carolina. It also serves anywhere in North America for commercial projects. Over 10,000 homes and businesses have used the company’s energy solutions. Solar Alliance also installs electric vehicle (EV) chargers and solar canopies for convenient charging at home.
Spectacular Solar specializes in designing, engineering, installing and monitoring solar energy systems. The company has aimed to make solar systems easy and affordable since 2004. It operates in New Jersey and serves residential, business and nonprofits.
Spectacular Solar offers customized systems to serve individual customer energy and budget needs. Solar financing is also offered by the company without upfront payments. Rather, customers are charged monthly utility fees that are supposedly lower than other power options.
Final Thoughts on Solar Penny Stocks
Solar penny stock companies tend to be small and unknown. They aren’t like typical large-cap stocks that move slowly over time.
Because of this, they tend to have larger price swings in the market. That can mean the potential for huge profits. But it could also make your investment more at risk. Returns are never guaranteed. And you should always do your own research before investing.
For more renewable energy investment opportunities, check out these green energy penny stocks.
About Aimee Bohn
Aimee Bohn graduated from the College of Business and Economics at Towson University. Her background in marketing research helps her uncover valuable trends. Over the past year, her primary focus has been researching IPOs and other trends.