If you’ve put a bunch of cash in renewable energy, word on the street is that even during these dire economic times, you shouldn’t sell. Last year was a rough one as investors lost their asses when several prominent alternative energy stocks fell by 70% or more. However, with the change in administration, investors are hoping Barack Obama’s focus on renewable energy will give the industry the financial boost it needs. According to a new survey conducted by Waggener Edstrom, investors are predicting that stocks in renewable energy will surpass the broader markets.
“Despite a deeply challenging business climate, the financial community continues to view alternative energy stocks with measured optimism,” Lev Janashvili, vice president of Waggener Edstrom, said.
The school of thought among investors is that expected increase in oil prices will boost renewable energy stocks. Oil prices—which have crashed down amidst the current economic crisis—will bounce back this year, creating a more mainstream interest in alternative energy sources once again.