The Canadian renewable energy stocks on our list have bright futures due to the declining cost of solar and wind technologies
SmallCapPower | May 24, 2017: Canada’s large, diversified land mass is filled with renewable resources that have allowed the country to become a world leader in the production and use of energy from renewable sources. The outlook for the Canadian Renewable Energy Industry looks bright due to the declining cost of solar and wind technologies, as well as the expected reduction in carbon use in the future. Today we have identified four small cap Canadian renewable energy stocks that hope to give Canada a greener future.
Ballard Power Systems Inc. (TSX: BLDP) – $3.74
Renewable Energy Equipment & Services
Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications. As of December 31, 2016, the Company provided products in four product classes, such as Fuel cell stacks, Fuel cell modules, Fuel cell systems and Power management systems.
- Market Cap: $649,286,933
- Total Revenue (LTM): $114,517,610
- Debt to Equity: 6.0%
- YTD Price Change: 68.5%
Carmanah Technologies Corp. (TSX: CMH) – $4.25
Renewable Energy Equipment & Services
Carmanah Technologies Corp is engaged in the business of developing and distributing renewable technologies, including solar-power light emitting diode (LED) lighting, and solar powered systems and equipment. The Company’s segments are Signals, Illumination and Power. The Signals segment offers products for traffic, marine, airfield ground lighting, aviation/obstruction and offshore verticals. The Signals segment’s products include Solar LED flashing beacons, marine lighting solutions and self-contained obstruction marking lights. The Illumination segment offers LED lighting systems for off-grid lighting applications, including street, parking lot, park and pathway applications.
- Market Cap: $104,002,843
- Total Revenue (LTM): $64,117,506
- Debt to Equity: 10.8%
- YTD Price Change: 8.4%
Enerdynamic Hybrid Technologies Corp. (TSXV: EHT) – $0.13
Renewable Energy Equipment & Services
EnerDynamic Hybrid Technologies Corp. (EHT), formerly MCM Capital One Inc., is an energy solutions company engaged in the development and production of solar and wind power projects, including installation. It supplies material solutions for industries, such as modular homes, cold storage facilities, residential and commercial buildings. Its products include Standard Photovoltaic (PV) Module, EHT Wind Products and EHT Structural Systems. Its vertical axis wind vanes are used in various ways in conjunction with specifically wound generators to ensure a Vertical Axis Wind Turbine for its EHT Wind Products. It implements hybrid solar, wind and battery systems into its structural systems.
- Market Cap: $17,480,188
- Total Revenue (LTM): $1,724,340
- Debt to Equity: N/A
- YTD Price Change: -40.5%
Solar Alliance Energy Inc. (TSXV: SAN) – $0.17
Renewable Energy Equipment & Services
Solar Alliance Energy, Inc., formerly Finavera Solar Energy Inc., is a solar sales and marketing company that focuses on residential solar installations. The Company operates in the United States, Ireland and Canada. The Company markets, sells and installs residential rooftop solar systems primarily in the San Diego, California market. The Company has developed over 360 megawatts of renewable energy projects and subsequently sold them to utilities or large independent power producers, and has installed over 2,000 residential solar systems in southern California.
- Market Cap: $12,649,257
- Total Revenue (LTM): $5,932,230
- Debt to Equity: N/A
- YTD Price Change: 175.0%
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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