Renewable energy has seen a boom in recent years and has become a viable option for investors and is guaranteed to grow in viability in the near future. If you're looking for ways to add some environmental causes to your life and diversify your portfolio, here are some ways to do so by investing in green energy.

1. Growth Potential 

Between now and the year 2050, experts say 77% of global energy usage will be generated by wind and solar sources. Global energy consumption is only going to continue rising, and electricity will be in high demand due to the growing use of electric vehicles. Wind and solar energy sources are projected to grow 4-5% faster than other sources, and will vastly outstrip fossil fuels as the popular option for green energy consumption. For investment purposes and cash flow banking, this projection is promising and makes green energy an attractive choice for anyone's portfolio.

2.  YeildCo

If you want to get in on the green energy trend, but still have some reservations about where your investment is concerned, a YeildCo is the way to go. YeildCos are businesses that develop and own renewable energy sources and are willing to pay high prices to people who own shares on their units.  YeildCos buy lots of solar panels and wind turbines and build power generation machines rather than manufacturing solar panels or wind turbines.

However, these companies generally have to offer new shares in order to make a profit, since a majority of their cash flow has to go to their shareholders, so they may be unable to generate new cash flow if their share price plummets. This is a good thing to keep in mind if you're considering a YeildCo like Brookfield Renewable Partners because they're backed by their parent company, Brookfield Asset Management. 

3. Earth Metals

Because of the shift away from gas-powered vehicles and towards electric ones, there has been an increased demand for rare or uncommon earth metals. Many parts of electric cars, including the batteries, rely on these materials and therefore rely on mining companies to provide them. Some investors have chosen to invest in silver, as silver is being used for manufacturing solar panels and electric vehicles, and is a relatively cheap metal. The demand for these metals and mining companies means that this will be a great stock to invest in for years to come.

4. Renewable Energy Product Manufacturers

As the demand for solar and wind-powered energy rises, so will the demand for the products that supply them. For beginner or casual investors, this stock may not be the best choice, as it is highly volatile and can vary in extremity depending on the success and failure of various companies. These investments may also not yield much of a profit in the present moment and will require some patience to see the eventual boom in solar and wind energy in the future. 

5. ETF's

There are some Exchange-Traded Funds (ETF's) that focus on renewable energy and would make a great alternate option if the risks of green energy investment are too much for you. An ETF will make sure your investment is diversified among many different companies, making it less likely to lose money and more likely to make a profit over time.

The Guggenheim Solar ETF, for example, will give you an overarching exposure to the solar industry. You'll essentially be dipping your toes in the world of green energy investment, so this may be a good choice for beginners. There will be many pros and cons to a generalized approach such as this one, but it can yield good results and will help you get started thinking about where you'd like to invest next. 

If you've been wondering how to jump on board the many trends in investments, green energy is a great place to start. Consider your personal preferences and investment needs and use these options to get started today.