Choosing Wisely: Profiting from the Rise of Alternative Energy

by | Sep 1, 2023 | Insights, News

Renewable energy sources are gaining ground. In 2022, they accounted for 13.1% of total U.S. energy consumption, with electric, solar and wind at the forefront.

But are these forms of alternative energy worth your time and investment dollars?

Wayman is exploring the green energy sector with caution, but always looking for a good deal to add to our value portfolio. We are presently avoiding newer companies that are heavily reliant on evolving technology because of the financial strains associated with disruption.

Electric car ev charge station vector concept. Electric vehicle charger energy background neon battery illustration.

However, we do advise investing in established companies with profit outside of alternative energy concepts. Examples of these companies would be Ford and Harley-Davidson. 

Ford has created a couple of electric vehicles and hybrids, including the Mustang Mach-E, and the F-150 Lightning. Harley-Davidson has a range of LiveWire electric motorcycles. These companies are making sensible investments in renewable energy sources and balancing innovation with reliability. They also have existing brand recognition that makes them a trustworthy option for investors. 

Alternative energy is here to stay. Electric cars are dominating highways in cities across the U.S. As the sector anticipates trillions in investments over the next decade, choose wisely on the names you bet on. Follow Wayman on social and subscribe to our newsletters to stay up to date on our latest portfolio moves.