To support its clean-energy goals and a customer-focused strategy, NRG Energy, Inc. (NRG - Free Report) with Google’s assistance has added an innovative service for customers in Texas called Nest Renew. The partnership of both companies began in 2012 with a goal to provide tech-enabled energy.
The newly-added service will allow its customers to manage and track their energy usage along with understanding sustainability issues from their homes. It will use Nest thermostats, which will help customers automatically shift their heating and cooling electricity usage to cleaner grids with slashed or zero emission. This new feature will allow energy companies to monitor energy fluctuations and make progress toward a cleaner energy future.
Transition in Energy Space
Per the U.S. Energy Information Administration release, shares of renewables in the U.S. electricity generation mix will increase from 21% in 2020 to 42% in 2050 with wind and solar being the major contributors.
NRG Energy is steadily intensifying its focus on clean generation to lower emissions. In 2019, it announced greenhouse gas reduction goals, per which it aims to achieve a 50% emission cut by 2025 and net-zero emission within 2050 from its 2014 baseline. Its planned sale of 4.8 Gigawatt (GW) fossil assets is on track to be completed in the fourth quarter of 2021. Management also announced the retirement of 1.6 GW or 55% of the company’s PJM coal generation in 2022.
Along with NRG Energy, other electric utilities that aim to become netcarbon neutral by 2050 include Exelon (EXC - Free Report) , FirstEnergy (FE - Free Report) and Duke Energy (DUK - Free Report) .
Price Performance
Shares of NRG Energy have gained 30.4%, outperforming the industry’s rise of 0.9% in the past year.
One Year Price Performance
Zacks Rank
Currently, the company has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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To support its clean-energy goals and a customer-focused strategy, NRG Energy, Inc. (NRG - Free Report) with Google’s assistance has added an innovative service for customers in Texas called Nest Renew. The partnership of both companies began in 2012 with a goal to provide tech-enabled energy.
The newly-added service will allow its customers to manage and track their energy usage along with understanding sustainability issues from their homes. It will use Nest thermostats, which will help customers automatically shift their heating and cooling electricity usage to cleaner grids with slashed or zero emission. This new feature will allow energy companies to monitor energy fluctuations and make progress toward a cleaner energy future.
Transition in Energy Space
Per the U.S. Energy Information Administration release, shares of renewables in the U.S. electricity generation mix will increase from 21% in 2020 to 42% in 2050 with wind and solar being the major contributors.
NRG Energy is steadily intensifying its focus on clean generation to lower emissions. In 2019, it announced greenhouse gas reduction goals, per which it aims to achieve a 50% emission cut by 2025 and net-zero emission within 2050 from its 2014 baseline. Its planned sale of 4.8 Gigawatt (GW) fossil assets is on track to be completed in the fourth quarter of 2021. Management also announced the retirement of 1.6 GW or 55% of the company’s PJM coal generation in 2022.
Along with NRG Energy, other electric utilities that aim to become netcarbon neutral by 2050 include Exelon (EXC - Free Report) , FirstEnergy (FE - Free Report) and Duke Energy (DUK - Free Report) .
Price Performance
Shares of NRG Energy have gained 30.4%, outperforming the industry’s rise of 0.9% in the past year.
One Year Price Performance
Zacks Rank
Currently, the company has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
Don’t Wait. Download FREE >>
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