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The 10 Best Renewable Energy Penny Stocks In June 2024

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Soon, the energy revolution will be in full swing, and savvy investors are looking for the best renewable energy penny stocks to take their portfolios to the next level. Keep reading for our top picks for the best renewable penny stocks to check out today.

Most of the electricity we consume is produced by electromechanical generators that are powered by fossil fuels.

However, this isn’t a sustainable method of generating energy.

Importing fossil fuels cost countries billions of dollars every year, and their consumption also increases the emission of carbon dioxide and other greenhouse gases.

As a result, countries across the globe are turning their focus toward producing renewable energy sources.

So, where do you start investing in this technology?

In this article, we’ll take a look at some of the most popular renewable energy penny stocks and how you can strengthen your portfolio before this segment of the market sees exponential growth.

renewable energy penny stocks


Best Renewable Energy Penny Stocks Under $5

Renewable energy can be classified into various divisions based on the energy source.

Examples are wave power (from tidal currents), solar energy, wind energy, and geothermal energy.

The stocks listed below are companies that offer products or services that set them apart from the rest of the market.

Consequently, they have excellent growth potential.

Here are some top penny stocks to buy that will only run under $5 per share.

Ocean Power Technologies, Inc. (NYSEAMERICAN: OPTT)

Ocean Power Technologies, Inc. is a New Jersey-based company concentrating on developing and commercializing renewable electricity proprietary systems for remote offshore applications.

The company’s main product is the PowerBuoy, an autonomous power generation system that can harness the power of ocean waves to produce electricity. 

The company also develops and sells batteries via its Subsea Battery division.

These lithium-ion batteries can be stored as deep as 500 meters below sea level.

Last month, the company announced it had received a Small Business Innovation Research award from the U.S. Department of Energy.

Ocean Power Technologies’ unique technology provides new methods of power generation that can expand into growing markets soon, which is why we added it to this list.

renewable energy penny stocks

SPI Energy Co., Ltd. (NASDAQ: SPI)

Investing in solar penny stocks, like this one, is a great way to get involved with an industry that will continue to expand.

Solar energy has been around for a while, and it’s not going anywhere anytime soon, which is why it might be one of the top renewable energy stocks on the market right now.

SPI Energy produces multiple products when it comes to renewable energy.

Based in Hong Kong, this company produces solutions for different types of industries.

SPI Energy produces solar storage and electric vehicle components for businesses, residences, governments, and individuals worldwide. 

It also offers engineering, procurement, and construction services to its clientele.

The company also develops and commercializes solar modules, with its solar energy systems producing 16.8 megawatts in 2021.

As more entities seek to acquire better solutions to save money and get sustainable energy, solar power is an attractive option to invest in. 

With SPI Energy offering a whole range of services related to solar energy systems, there is ample opportunity for growth.

So if you’re looking for solar energy stocks, you might want to start your search here.

renewable energy penny stocks

Clean Energy Penny Stocks

The transition from fossil fuels to clean energy has been gaining momentum in recent years, and those who get in early have the opportunity to reap the benefits later on.

These companies are heavily involved with the procurement of clean energy fuels for renewable energy sources.

Uranium Energy Corp. (NYSEAMERICAN: UEC)

Uranium Energy Corp. is a U.S.-based uranium mining and exploration company.

It engages in the development, pre-extraction, mining, and processing of uranium and titanium concentrates.

Uranium Energy Corp. also has one of the largest uranium exploration and development databases in the U.S.

The company uses on-site recovery techniques, like wells, to extract uranium from the ground for its uranium mining process. 

Uranium Energy Corp. also has facilities within Paraguay to help meet the rising demand for uranium to power clean nuclear energy facilities.

As one of the top uranium exploration companies in the U.S., it could be poised for serious growth when uranium demand increases.

renewable energy penny stocks

Uranium Royalty Corp. (NASDAQ: UROY)

Uranium Royalty Corp is a company that holds different assets related to the renewable energy industry, predominantly ones connected to uranium. 

The company’s assets are located throughout Canada, the U.S., and Namibia in uranium mining properties and projects. 

As the demand for uranium increases, especially with China’s nuclear industry expansion, Uranium Royalty’s portfolio is bound to see growth.

Ever since it first went public, Uranium Royalty’s stock has increased by more than 500%.


renewable energy penny stocks


Alternative Energy Penny Stocks

These penny stock companies specialize in the manufacturing and development of alternative energy technologies.

Alternative energy stocks are a good investment because these renewable energy sources are the future of power generation and will likely phase out fossil fuels.

So if alternative energy has piqued your interest, here are some companies that might be worth checking out.

Broadwind, Inc. (NASDAQ: BWEN)

Broadwind, Inc. offers a suite of products for different industries, including renewable energy and manufacturing as well as commercialization of structures, equipment, components, and supplies.

The company’s services are for large-scale industrial applications. 

 It specializes in heavy industrial fabrication and serves as a supply chain manager, a material handler, a designer, and an assembler for other companies in the renewable energy space.

On September 29, the company announced that it had received new orders worth over $12 million for wind turbine towers.

Renewable energy projects will always require various technologies and equipment, and Broadwind is looking to meet this increasing demand.


renewable energy penny stocks


Capstone Green Energy Corporation (NASDAQ: CGRN)

Capstone Green Energy Corporation focuses on the manufacturing, development, and distribution of microturbine generators.

It has machines to accommodate electrical power generation, cogeneration, biofuel compatibility, and hybrid car applications.

The company also provides customers with rotary gas compressors, heat recovery systems, and battery systems.

As the world switches to green energy sources, existing power generators will require conversion to renewable energy, and Capstone is well-positioned to address that need.

renewable energy penny stocks

Best Renewable Energy Penny Stocks Under $1

While most penny stocks are affordable by nature, some cost much less than others.

If you’re investing on a tight budget, you might want to start at the less than a dollar mark.

Here’s our list of the best renewable energy penny stocks that cost less than $1 per share.

Solar Alliance Energy Inc. (OTCMKTS: SAENF)

Solar Alliance Energy Inc. is a company that designs, builds, and installs solar power systems.

The company offers its services to commercial, industrial, and residential clients.

With top-notch solar power systems helping clients reduce how much they spend on electricity, the company has grown into one of the most popular solar energy solution providers in the southeastern U.S.

The company custom-fits systems for any requirement from residential power to large-scale solar applications.

Its most popular product is the SunBox — a one-size-fits-all solar power solution.

To date, Solar Alliance has installed over 10,000 homes and businesses with its solar energy products — and this number is speculated to rise.

Its growing customer base is one of the top reasons we added it to our list of renewable energy stocks.


renewable energy penny stocks


Manganese X Energy Corp. (OTCMKTS: MNXXF)

Manganese X Energy Corp. is a mineral exploration and mining company primarily based in Montreal, Canada. 

Manganese is a crucial component of modern lithium-ion battery technology, and the company aims to be an ethical supplier of manganese dioxide to battery manufacturers worldwide.

The demand for manganese is projected to increase as rechargeable batteries become more relevant for renewable energy systems across various sectors.

Solar energy, wind turbines, tidal power, and even electric vehicles all require Li-ion batteries at some point while generating energy, and this puts Manganese X in a favorable position.

renewable energy penny stocks

Ozop Energy Solutions, Inc. (OTCMKTS: OZSC) 

Ozop Energy Solutions, Inc. manufactures various components for companies that develop renewable energy solutions. 

It designs, develops, produces, and distributes high-energy chargers, inverters, and power supplies for different applications.

Before expanding to cater to other businesses and companies, Ozop initially offered its components to the defense sector, heavy industries, aeronautical sector, and maritime industries.

The company is now focusing on becoming a key component supplier in the renewable energy market by providing the assets and infrastructure needed for renewable energy storage.

With the expected surge in renewable energy demand, the company’s stock is bound to grow with the expanding green energy sectors.


renewable energy penny stocks

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI)

Ascent Solar Technologies, Inc. has been a producer of innovative solar solutions since 2005. 

The company commercializes its cutting-edge CIGS photovoltaic technology — a solar panel system built on a flexible plastic substrate.

This flexible, modular, thin-film solar panel is both portable and easy to install.

As an innovative solar panel solution, Ascent Solar’s products have multiple applications, including space exploration, aerospace, defense, and regular consumer use.

Ascent Solar has become a leader in the production of cutting-edge solar power products.

As the solar industry continues to grow, this company will likely grow with it.

renewable energy penny stocks


Should You Buy Renewable Energy Penny Stocks?

As the world becomes more affected by climate change, more countries focus on adopting renewable energy in their power grids.

This industry is growing so fast that the estimated growth for renewable energy by 2030 by the World Resources Institute has already been achieved.

The International Energy Agency has also stated that almost 90% of new growth in the energy sectors has come from renewable energy sources.

Renewable energy has grown to exponential heights, and stocks in this industry are bound to benefit within the next five years.

However, as with all trading advice, you should look at the risk factors and conduct proper research to maximize the returns you can expect.

This is especially important for penny stocks, which are known to be volatile assets.

Renewable Energy Penny Stocks: Final Words

The renewable energy industry has seen exponential growth within the last decade.

The companies on our list provide a solid entry point into renewable energy, but there are other sectors of this industry you can invest in, such as renewable hydrogen.

So as always, you should perform your own due diligence to find out which sector best fits your portfolio, and this is especially true when penny stock trading.

Multiple factors such as climate treaties, carbon deadlines, and growing concerns have pushed key players into transitioning to cleaner energy sources.

Traders can capitalize on the tested growth potential of renewable energy penny stocks.



Jessica is a published author and copywriter specializing in personal and investment finance. Her expertise is in financial product reviews and stock market education.