As is my annual tradition, here are my Ten Clean Energy Stocks for 2021. This list is also my new model portfolio for the year, with the equal dollar values of each stock calculated with the closing prices from December 29, 2020.

Returning Stocks

• Mix Telematics (MIXT).
• Green Plains Partners (GPP).
• Covanta Holding (CVA).
• Red Electrica (REE.MC, RDEIF, RDEIY).
• Valeo, SA (FR.PA, VLEEF, VLEEY).
• Veolia (VIE.PA, VEOEF, VEOEY).

New Stocks

• Scorpio Bulkers, Inc. (SALT) – Dry bulk shipper converting to offshore wind construction. Thanks to Thad Curtz for bringing my attention to this one.
• Brookfield Renewable Energy Partners (BEP) – A leading clean energy Yieldco with significant hydropower assets.
• Umicore, SA (UMI.BR, UMICF, UMICY) – Leading recycler of batteries and specialty metals.
• Avangrid (AGR) – Owner of renewable generation and utilities.

As I track this model portfolio over the year, I will continue using the Global X YieldCo & Renewable Energy Income ETF (YLCO) as a clean energy benchmark and the SPDR S&P Dividend ETF (SDY) as a broad market benchmark, while throwing in the performance of the Green Global Equity Income Portfolio (GGEIP) for good measure. The chart below shows preliminary numbers for 2020.

As I discussed last week, 2020 was another difficult year to find clean energy stocks that I think are good values. It’s a great thing for the planet that the fossil fuel divestment movement seems to be driving up the prices of clean energy stocks, but it makes life harder for value investors like me.

Given the high valuations, I think it’s important to keep some cash on the sidelines, but my track record on calling market tops is abysmal, so I never get totally out of the market.