The share of electrification as an energy source is set to rise, and it's time to revisit some major clean energy stocks, the investment bank says.
The use of "green" electricity as an energy source is set to rise — and that could save consumers some money, according to Goldman Sachs. "We believe the coming century could witness the rise of electricity, thanks to attractive economics, rising social acceptance and growing policy support," Goldman wrote in a late September report.
$6 trn addressable market we estimate for energy transition across Europe and the US," the bank's analysts wrote, highlighting a list of stocks in each market. They said the U.S. Inflation Reduction Act and the European Union's RePowerEU plan combined could mobilize nearly $6 trillion of capital in clean energy over the next 10 years. "This would suggest very fertile ground for the Green Energy Majors," they said, referring to the major stocks.
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