3 Clean Tech Stocks to Brighten Your Portfolio on Earth Day

Invest in these clean technology stocks and combine innovation and sustainability for long-term returns

The global economy is moving towards a sustainable future, making it a great time to invest in clean technology stocks ahead of Earth Day.

Sustainability has been a hot topic in recent years and is a long-term trend that will continue to benefit companies looking to evolve. The tech sector in particular has taken advantage of various trends to become a dominant force in the stock market over the past few decades. But when technology companies embrace sustainability, it's a powerful combination that continues to deliver incredible benefits over the long term.

Moreover, clean technology stocks promise solid economic returns and positively contribute to the well-being of the world's ecosystems. That said, he recommends three clean technology stocks that are attractive to conscientious investors.

Enphase Energy (ENPH)

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Enphase Energy (NASDAQ:ENPH) is a leading solar power equipment provider, and its stock price soared to $336 in December 2022. However, since then, the stock has been on a downward trend, losing more than 50% of its value in the last year. The solar energy sector's boom is fading, weighing on Enphase's business and stock price.

Nevertheless, once the headwinds pass, Enphase is well-positioned to once again achieve high growth rates. The company has a global presence and is looking to expand its presence in new regions to add to its already impressive growth trajectory. It's worth noting that the company reported impressive operating cash flow of $696.8 million last year, which gives it the impetus to continue pursuing its growth strategy.

Another exciting area for the company is its EV charger business. It stands out due to its integration with powerful solar power and battery systems, which significantly increases energy efficiency. The company's bidirectional chargers support vehicle-to-home and vehicle-to-grid functionality and work seamlessly with home energy systems, promising solid long-term growth for the segment.

NextEra Energy (NEE)

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NextEra Energy (NYSE:NEE) is a Florida-based cleantech company that operates a dual-pronged business model. Its subsidiary, Florida Power & Light Company, serves as a traditional electric utility with strong revenue growth, while NextEra Energy Resources focuses on renewable energy generation. His robust two-pronged approach allows the company to continue supporting renewable energy initiatives while maintaining reliable public services. As a result, it has become the world's largest producer of renewable solar energy.

Additionally, NextEra operates a highly resilient business with gross margins, net income, and EBITDA margins well above 20%. Additionally, the common stock return of 17% is significantly higher than the sector median of 8.80%. Sales growth has also been equally or even more impressive, with sales up 34% year-on-year.

More importantly, the company is one of the best dividend stocks for investors, with a 3.22% yield and 28 years of continuous dividend growth.

Microsoft (MSFT)

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Microsoft (NASDAQ:MSFT) has been one of the hottest stocks over the past few years, thanks to its groundbreaking AI efforts, record stock price gains, and solid financials. But many overlook the company's sustainability efforts, which positions it as a tech stock with a deep sense of purpose.

The company has set some ambitious sustainability goals to minimize its environmental footprint. The company aims to become carbon negative by the end of this decade, with plans to power all its operations with 100% renewable energy by 2025. Similarly, the company is working towards achieving zero waste certification for its operations, products and packaging. 2030.

Additionally, through its Planetary Computer initiative, the company aims to provide critical data and tools to protect biodiversity and play a key role in ecosystem restoration. These goals underscore Microsoft's commitment to leading in sustainability and leveraging technology to help the environment.

On the date of publication, Muslim Farooq did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are subject to InvestorPlace.com Publishing Guidelines.

Farooq, a Muslim, is an avid investor and an inveterate optimist. A lifelong gamer and technology enthusiast, he has a special interest in analyzing technology stocks. Muslim holds a Bachelor of Science in Applied Accounting from Brooks University, Oxford.

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