Stars Align for Renewable Energy

Around the world, investment in renewable energy projects is skyrocketing. S&P has buy ratings on three stocks poised to benefit from the boom

You know something is hot when Google (GOOG) wants in. The dominant Internet search company stunned investors last month with an announcement that it will begin hiring engineers and other energy experts for a project that plans to generate 1 gigawatt (GW=1 billion watts) of electricity—the output of a fair-sized nuclear power plant—from renewable sources. Not just any renewable source will do, however. Google's goal is to find sources that can generate power more cheaply than power from coal—the ultimate goal of any renewable energy technology.

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