By now, we’re all well aware of the world’s desire to go green, which could greatly benefit green energy stocks. The U.S. wants to cut emissions by up to 52%. The European Union says it aims to cut emissions by up to 55%. China says it will stop releasing CO2 in the next 40 years. To help, President Joe Biden signed the Inflation Reduction Act into law, which included $370 billion worth of federal investment into renewable energy over the next decade. Also, according to the International Energy Agency, more than a third of the world’s electricity will come from renewables by 2025.

And, according to BBC.com, “The world is predicted to pass a critical turning point in renewable energy.” In fact, they note, “Greenhouse gas emissions from the power sector, the largest source of the world’s emissions, are expected to fall for the first time, according to London-based think tank Ember.”

So, it just makes sense to invest in green energy stocks, including the following.

ALPS Clean Energy ETF (ACES)

ETFs are always essential. Not only do they allow you to diversify, but they also allow you to do so at a low cost. With an expense ratio of 0.55%, the ALPS Clean Energy ETF (NYSEARCA:ACES) currently trades at $43.70 with a yield of 0.55%.

It also attempts to mirror its underlying index, the CIBC Atlas Clean Energy Index. Some of its top holdings include First Solar (NASDAQ:FSLR), Brookfield Renewable (NYSE:BEP), Tesla (NASDAQ:TSLA), Enphase Energy (NASDAQ:ENPH), Albemarle (NYSE:ALB), Lucid Group (NASDAQ:LCID), and Plug Power (NASDAQ:PLUG) to name a few.

From a current price of $43, I’d like to see the stock closer to $70 in the near-term.

iShares Global Clean Energy ETF (ICLN)

With an expense ratio of 0.40%, the iShares Global Clean Energy ETF (NASDAQ:ICLN) offers exposure to companies that produce solar, wind, and other renewable sources of energy.

Some of its top holdings include Enphase Energy, SolarEdge (SEDG), First Solar, Orsted (OTCMKTS:DNNGY), Consolidated Edison (NYSE:ED), and dozens more.

After a bumpy start to the new year, the ICLN ETF ran from about $17 to $19.80 a share so far. I’d like to see it closer to $24 by year’s end.

NextEra Energy (NEE)

Just last year, NextEra Energy (NYSE:NEE) announced Real Zero, committing the company to eliminate emissions from its operations no later than 2045. It also created the Zero Carbon Blueprint, which outlines plans to increase renewable energy deployment and help lead a $4 trillion effort to decarbonize the U.S. economy. NEE also carries a yield of about 2.4%, with plans to increase its dividend by about 10% a year through 2024.

Better, the company is still growing nicely. It released its 2022 earnings report, which continued to show the company’s strong double-digit growth across several key metrics. And it had another solid year in terms of development, signing 8,000 megawatts of new projects. NEE last traded at $75.44 after finding strong support dating back to early 2022. I’d like to see it challenge $85 again shortly.

Brookfield Renewable (BEP)

With a yield of 4.3%, Brookfield Renewable is among the largest green energy stocks, boasting a robust portfolio of renewable energy assets with stable cash flows. At the moment, it has more than $77 billion in assets under management and an operational capacity of about 25 gigawatts. Additionally, the company has projects sporting around 110 GW of capacity under development.

Notably, Brookfield Renewable has been a big winner, in terms of earnings growth, over time. The company saw more than $1 billion, or $1.56 per share, of funds from operations last year. This represents growth of approximately 8% over 2021 levels. The Company claimed in a press release that it also nearly doubled its pipeline from 62,000 MW to more than 110. It also commissioned about 3,500 MW of capacity, including the completion of its 850 MW Shepherds Flat wind repowering projects.

Enbridge (ENB)

With a dividend yield of 6.6%, Enbridge (NYSE:ENB) is another one of the best dividend stocks to buy, for this betting on a recession. ENB stock is a lower-risk, high-yield opportunity that should keep your portfolio safe from chaos. For one, the company has a wide moat portfolio, including the second-longest natural gas pipeline in the U.S., North America’s longest crude oil pipeline, and a high-growth renewable power generation business.

Two, the company’s diversified business, strong cash flow, and dividend growth make it just as impressive. Plus, the company has a fast-growing green energy portfolio. To date, the company has invested in 23 wind farms, 16 solar energy operations, five waste heat recovery plants, a geothermal project, and a power transmission project.

First Solar (FSLR)

First Solar has been incredibly explosive since the start of the year. In fact, since January, the solar stock ran from about $145 to $216.89 – and could see higher highs. Notably, it’s one of the biggest beneficiaries of the Inflation Reduction Act, especially with the company expecting to receive an IRA tax credit of $660 million to $710 million, as noted by Barron’s.

Even UBS analyst John Windham just upgraded FSLR to a buy rating, with a price target of $250. He also noted FSLR is “the most significant beneficiary of the Inflation Reduction Act (IRA) with high visibility on capacity, revenue, and earnings growth through 2026.”

Additionally, First Solar’s earnings have been solid. In its fourth quarter, net sales were 10% higher year over year. Its net loss narrowed significantly to about $7.5 million from $49 million year over year. Moving forward, the company expects to post net sales of between $3.4 billion and $3.6 billion for the full-year 2023, which would be 30% growth over the previous year.

Lithium Americas (LAC)

Among the red-hot green energy stocks to buy and hold is Lithium Americas (NYSE:LAC). For one, General Motors is investing $650 million into Lithium Americas’ Thacker Pass mine in Nevada. Lithium Americas estimates the lithium extracted and processed from the project can support the production of up to 1 million EVs per year, according to a GM press release.

Even better, the company just commenced construction at Thacker Pass following the receipt of notice to proceed from the Bureau of Land Management. “Starting construction is a momentous milestone for Thacker Pass and one we have been working towards for over a decade,” said Jonathan Evans, President, and CEO.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.