Renewable energy sources will indisputably play a key role in meeting the world’s future energy needs. What isn’t as clear is which companies will pass the test of time to benefit from this growth in renewables. Two renewable energy companies that look promising right now are fuel cell maker Plug Power (NASDAQ: PLUG) and solar panel manufacturer Canadian Solar Inc. (NASDAQ: CSIQ). One of the two stocks looks like a better buy right now. Let’s see why.
Both Plug Power and Canadian Solar have an operating history of around two decades. However, the two companies generated divergent results over this period. While Plug Power continues to struggle to become profitable, Canadian Solar has been generating positive profits for years.