Investing in the Best Wind Turbine Stock

September 12. 2022. 6 mins read

Disruptive growth doesn’t always equate to profits. If you would have invested in the Invesco Solar ETF when it debuted nearly 15 years ago you would have 66% less money compared to a Nasdaq return of +534% over the same time frame. So much for blaming the 2008 market crash for solar’s underperformance. Just because you see solar panels popping up on every roof doesn’t mean solar panel manufacturers are a lucrative investment, and the same can be said for wind turbines.

Renewable energy has become such a loaded topic that it’s tough to discern what’s actually going on, so we’ve always looked to Lazard’s levelized cost of energy (LCOE) as an indicator of success. With all the penalties and subsidies removed, wind appears to be competitive with coal, and in some cases cheaper than coal.

Lazard's levelized cost of energy (LCOE)
Credit: Lazard

Of course, we also need to consider the need for storage and whether wind energy deployments will play well with whatever infrastructure they attach themselves to. Regardless, the demand for wind turbines continues as wind energy adoption increases. Today, we want to find the leading wind turbine manufacturer and see what that investment thesis looks like.

The Biggest Wind Turbine Manufacturers

BloombergNEF produces a research report every year that ranks wind turbine manufacturers based on capa

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