NEW YORK ( TheStreet) -- Solar power, wind power and other clean energy sources are set to form a major portion of global energy supply in the future, thanks to increasing capital investment in the renewable energy sector, a recent United Nations report said.
According to the report, currently almost 13% of the world's energy needs are met through renewable resources. Moreover, decline in prices of solar installations, wind turbines and other such technologies will likely attract more investment in the sector. The report estimates global renewable investments to range between $1.4 trillion and $5.1 trillion from 2010 to 2020.
Global wind market is estimated to grow in 2011 with more than 40 GW of new wind power capacity, according to a report by the Global Wind Energy Council. Further, the report adds that by 2015 the global installed wind power capacity will more than double to 450 GW from 194.4 GW recorded at the end of 2010.
The American Wind Energy Association says the country's wind power industry installed 1,100 MW of new capacity in the first quarter of 2011. For the second quarter, it had another 5,600 MW under construction which is almost twice the megawatts reported in 2010 and 2009.We have identified six stocks in the alternative energy industry spanning across sectors such as independent power producers, manufacturers of instruments used in energy control, power conversion and supply equipment companies which can leverage the anticipated growth in the sector. These stocks have potential upsides of anywhere between 11% and 103% based on its latest quarterly earnings and estimates. The average mean upside value is 53%, based on analysts' consensus estimate polled by Bloomberg. The stocks are stacked based on upside, great to greatest.