STEM - Can Stem Give Your Portfolio a Jolt?
The global energy industry is huge, and green energy alone is now worth more than $1 trillion worldwide. But while oil companies are worth hundreds of billions on the stock market, the only major space for renewable energy investors has been electric vehicles. Energy storage company Stem (NYSE: STEM) recently went public via SPAC, and here are three reasons why investors could benefit from learning about this green energy newcomer.
Fossil fuels have powered the global economy for many years, going back to the discovery of oil in the 1800s. After a long run of dominance, climate change concerns and innovation have resulted in the emergence of renewable energy sources such as wind and solar power.
Just over a quarter of the world's energy came from renewable sources in 2018, and that figure is estimated to rise to more than 45% by 2040. The cost of renewable energy has continually decreased over time, making it more competitive with fossil fuels. According to the National Renewable Energy Laboratory, electricity from fossil fuels currently costs between $0.05-$0.17 per kilowatt-hour. Electricity from solar now costs between $0.03-$0.06 per kilowatt-hour.
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Can Stem Give Your Portfolio a Jolt?