Ocean energy is one of several emerging technologies to create "clean" and renewable power sources. Two kinds of ocean energy technologies exist: wave and tidal. Wave technology consists of a large buoy that can absorb energy from any direction. Tidal energy is less universal, capturing energy from one direction only, but is more predictable, as the size of the waves are predictable. Ocean energy research is ongoing, and this energy will probably continue to grow as the technology improves and implementation becomes more widespread.
Research your options. Find companies participating in ocean technology that are publicly traded. Compare those companies' stock performances to see which investment would be best.
Consider investing in utility companies that are invested in ocean energy options. For example, PG&E was the first U.S. energy company to invest in ocean energy, in 2007. Investing in these companies is a way to support the burgeoning field of ocean energy research.
Look for an exchange traded fund that focuses on clean energy. Several exchange traded funds that deal with alternative energy are available on the market. The funds work by investing small amounts in a variety of alternative energy companies and technologies, which minimizes the risk when compared with a single company investment. Research the exchange traded fund before purchasing, looking at how the fund has performed in the past.
Contact your broker or log on to your online brokerage account and purchase the stock or exchange traded fund that you have decided is best for you. As always, be aware of trade fees and minimum investment amounts and plan accordingly.
Items you will need
- Brokerage account
- Greentech Media: Forecasting the Future of Ocean Power
- Ida Ireland: Catching the Global Ocean Energy Wave
- Ocean Energy Council: Wave Energy
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