Democratic 2020 U.S. presidential candidate and former Vice President Joe Biden walks past solar panels while touring the Plymouth Area Renewable Energy Initiative in Plymouth, New Hampshire, U.S., June 4, 2019.
Brian Snyder | Reuters
President Joe Biden is less than a week into his new role, but the best analysts in the energy industry are already choosing which companies will likely benefit from the administration’s clean energy agenda, or at least be able to still do well in spite of it.
Immediately following Wednesday’s inaugural festivities, the president signed a series of day-one executive orders, including a commitment to rejoin the U.S. into the Paris climate agreement.
Biden also canceled the permit for the construction of the Keystone XL pipeline from Canada to the U.S. and pledged an “immediate review” of actions taken by the Trump administration that weakened environmental protections.
Further, the president’s clean energy plan calls for making the U.S. power sector carbon-neutral by 2035.
Consider that in 2019, about 63% of the electricity generated in the U.S. came from fossil fuels, according to the U.S. Energy Information Administration.
Here are three energy stocks that may get a boost in a Biden administration, according to the top analysts that cover the industry according to Institutional Investor magazine’s 2020 survey of money managers.
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