With so many natural gas companies trading near multi-year highs or 52-week highs, it may be wise for investors to consider other areas within the energy complex that can yield better alpha. This has me thinking storage and enhanced oil recovery could make BP (NYSE:BP) and ExxonMobil (NYSE:XOM) gain traction with investors with a new focus on renewable energy. Using thermal heat in molten salt to store energy in the ground is gaining traction with NRG (NYSE:NRG) and Google (NASDAQ:GOOGL) investing in Ivanpah, a massive 392-megawatt solar project in the Mojave Desert in California.
Tapping new ideas to store energy or even boost oil and gas production while keeping carbon output lower could make companies like Glasspoint, which is funded by Royal Dutch Shell (NYSE:RDS-A), a name to watch. This idea of using solar like never before should shed a new kind of light on renewables that even oil and gas investors may get behind.
John Licata has no position in any stocks mentioned. The Motley Fool recommends Google. The Motley Fool owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.