The renewable energy sector was one of the best investment opportunities in 2020, as the new US administration plans to re-join the Paris Climate Accord and make the country a global leader on climate change policy.
Joe Biden plans to make the US a 100% clean energy economy with net-zero emissions by 2050, while he also plans to decarbonize the US power sector by 2035, utilizing renewable energy solutions.
The entire auto market is pivoting from gasoline-powered cars to electric cars, and analysts believe that we are still in the early stages of this seismic shift as the electric car industry is young and growing quickly.
Electric Vehicle penetration of total passenger car sales measured less than 5% in 2020, while that share is expected to rise at 20% in 2025 and up to 50% in 20 years. Traditional car companies such as Volkswagen and Ford have started getting involved in the sector to match the increasing demand.
The large growth rate in the Chinese and European EV markets and the favourable government policies have made electric vehicles one of the hottest topics on the financial markets in 2020.
Tesla has become the world’s largest automaker in the world with a market capitalization of $800 billion, after its share skyrocketed by 800% last year, making its founder, Elon Musk the world’s richest man in 2021.