More stocks that will benefit from the influx of electric cars into the US.
The introduction of the Chevy Volt and the wave of electric cars that will be hitting the US in the coming year brings up the question about the power grid in the US and if it can handle the increased demand for electricity. The issues with the power grid have already been brought to light with the rolling blackouts in California, the blackout in NY a couple years ago, and the issues with trying to incorporate wind energy (just ask T Boone Pickens).
Three power grid plays:
- ABB Ltd (ABB) – based in Switzerland, ABB is a global leader in power and automation technologies that is as close to a pure-play power grid company as there is.
- EnerNOC (ENOC) – supplies utilities and grid operators with technology to help them use their energy more effectively; referred to as “smart grid” technology. Helps harness the energy and stores it for peak hours. Last quarter revenues up 79%.
- MYR Group (MYRG) – provides construction services for the nation’s electrical infrastructure. Most recent earnings reported a 10% increase in revenue.
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