The demand for sustainable energy solutions rises exponentially as the world shifts towards a greener future. Unsurprisingly, investors are seeking the best green energy stocks to capitalize on this lucrative market. Within the realm of renewable energy, growth stocks are a key focus for those seeking high potential returns.

As a result, you can unlock the potential for profitable investments with the top renewable energy growth stocks. With an eye on the future, these companies are harnessing the power of clean energy and contributing to global growth as well.

Investing in renewable energy stocks offers a unique opportunity to align your portfolio with the world’s sustainable goals. It allows you to reap the rewards of growth while contributing to a cleaner and more sustainable future.

The renewable energy sector is brimming with innovation. A wide range of renewable energy solutions is capturing the spotlight, from solar and wind power to cutting-edge battery technologies.

Hence, consider exploring the exciting world of renewable energy stocks to ride the wave of green growth. It’s time to explore the lucrative world of renewable energy stocks!

NextEra Energy (NEE)

NextEra Energy (NYSE:NEE) holds a prominent position as one of the world’s largest producers of wind and solar energy. It is an undeniable force in the ongoing green energy revolution. With its significant contributions to renewable energy, NextEra Energy is a major player among top green energy stocks.

The clean energy company is committed to sustainability, evident through its groundbreaking Real Zero plan. Under this initiative, NextEra aims to completely eliminate carbon emissions by 2045, leading in clean energy.

However, investors are primarily concerned with the bottom line: shareholder value. On that end, NEE stock is one of the best performers in the space. Over the past 15 years, NextEra has generated a remarkable total return of almost 1,000%. Notably, NextEra has also increased its dividend for over 25 consecutive years, earning the prestigious Dividend Aristocrat title.

Furthermore, NextEra’s growth story is not wrapping up anytime soon. The company expects earnings to continue increasing at or near its target range of 6% to 8% annually through at least 2025.

NextEra also aims to deliver around 10% annual dividend growth through 2024, providing an attractive income stream for investors. With a solid balance sheet and financial flexibility, NextEra is well-positioned to seize new opportunities in the evolving utility sector.

In summary, NextEra Energy deserves your attention if you’re seeking high-potential renewable energy stocks that offer both growth and stability.

Brookfield Renewable Corp (BEPC)

Making its way to our list is Brookfield Renewable Corp (NYSE:BEPC), a global leader in renewable power. You might recognize the name because Brookfield Asset Management, one of the world’s major asset management companies, owns 60% of it.

Brookfield Renewable is a global leader in clean energy with an impressive $52 billion of power assets under management. Boasting a portfolio already capable of producing 25,700 megawatts annually, the company is not resting on its laurels. With an eye towards solidifying its position among the leading renewable energy growth stocks, the company has set forth ambitious plans to develop assets that could contribute an additional 126,000 megawatts within a few years.

Amid the swift shift from fossil fuels to green energy, Brookfield Renewable has emerged as a beneficiary, enjoying substantial gains. In the last five years alone, its stock price has soared by an impressive 23.25%. Investors have also been delighted with its status as one of the best green energy stocks, thanks to its lucrative dividend yield of 4.3%.

In addition, Brookfield Renewable’s commitment to rewarding shareholders is evident in its steadily expanding dividends. Over the past two decades, the company’s dividend payout has compounded at an impressive annual rate of 6%. With this trajectory, the potential return for investors – price appreciation, dividend yield, and dividend growth – is one of the best in the renewable energy space.

As the clean energy revolution gains momentum, Brookfield Renewable stands out as a key player. With its extensive power assets, ambitious development plans, and a track record of consistent dividend growth, it solidifies its position among the top growth stocks in the renewable energy sector.

First Solar (FSLR)

First Solar (NASDAQ:FSLR), a leading player in the renewable energy sector, is at the forefront of developing and manufacturing thin-film solar panels. These cutting-edge panels utilize their larger size to outperform competing technologies, yielding a higher energy output. This unique advantage positions First Solar as an ideal choice among growth stocks in the realm of renewable energy.

As the demand for solar panels continues accelerating, First Solar is poised to capitalize on this favorable market trend. Recognizing the tremendous potential, the company is actively investing in expanding its manufacturing capacity. Consequently, by the second quarter of 2022, First Solar had already sold out all its production capacity through 2024, except for a new plant under construction in India.

By 2025, the company aims to ramp up its annual domestic manufacturing capacity to 10.6 GW. Furthermore, it has secured long-term contracts to sell panels extending into 2026, providing significant visibility into future revenue.

With one of the strongest balance sheets in the industry, First Solar can easily sustain its expansionary endeavors. Despite the substantial investments in constructing new manufacturing facilities, the company anticipates closing 2022 with a cash reserve of $1.3 billion to $1.5 billion.

This robust financial position grants First Solar unparalleled flexibility, enabling it to capitalize on the soaring demand for solar panels. As a result, it solidifies its position as one of the best green energy stocks and one of the high-potential renewable energy stocks to generate substantial returns.

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