Investing Green in the Midst of Economic Turmoil
With close to $100 billion in green investments, the new administration's bailout could promote a shift to wind and solar power, mass transit, and a modernized green infrastructure. While companies remain stagnant waiting for this money to start spilling over into the economy and beginning to the churn the wheels of green investment one more time, US News and World Report announced their 5 Green Stocks for a Bad Economy.
US News and World Report announced their 5 Green Stocks for a Bad Economy. The "survivors" held steady in the midst of the worse recession since the depression and seem to have what it takes to prosper when the economic stimulus money starts flowing.
Steady Green Stocks
At the top of the list--wind. According to the article, "Citigroup recently predicted Vestas' sales would grow just 5 percent in 2009 before rebounding in 2010. But Vestas could be in for an Obama bump if the president's stimulus package includes a better mix of tax credits for wind."
Not unexpected, solar which will be receiving the investment tax credit (ITC), worth upwards of $400 billion over the next eight years. First Solar is a stock still holding steady and should lead the way in this brighter economy. ESCO Technologies a Smart Metering company and Gushan Environmental, a Biofuel producer are also expected to do well. The black horse candidate? The FPL Group, a utilities company that is expected to capitalize on these new green energy sources once investment starts to defrost.