According to a new report from the Rocky Mountain Institute, solar and wind power generation will triple by 2030, leading to disruption in the global power industry. It will also create a promising renewable energy trade for investors. “The era of fossil fuels is over,” the Rocky Mountain Institute said in a report released last week. The group continued: “Rapid growth would result in a tripling of solar and wind power generation by 2030, while faster growth would mean a quadrupling of generation to more than 14,000 terawatt-hours (TWh), and Go beyond fossil fuel supply.” Solar and wind will account for 33% of electricity generation by 2030, up from 12% in 2022, the report said. RMI predicts that solar energy, already the cheapest form of energy in history, will halve in price by 2030, continuing the steep decline in solar and wind costs. The levelized cost of energy (LCOE) for solar and wind in the first half of 2023 will be around $40 per MWh, roughly half the cost of coal and natural gas, RMI noted. CNBC Pro used FactSet data to screen for companies leading the growth in solar and wind energy production. Companies on the list meet the following criteria: Have 60% or more analyst buy ratings Have an average price target of at least 30% Upside potential At least 7 analysts cover Sunrun shares listed on the NYSE or NASDAQ May Shares soared more than 77%, based on the stock’s average target price. Morgan Stanley analyst Andrew Percoco said in a note Monday that he had a “pretty constructive update on the demand outlook” for the company’s new residential roof product, Sunrun Shift. Some 64% of analysts have buy ratings on the stock, according to FactSet data. Other residential solar companies on the list include Sunnova and Maxeon Solar Technologies. Percoco said that while Sunnova’s second-quarter earnings and profit expectations were slightly lower compared with Wall Street’s, his forecast remained relatively in line with the company’s guidance. “Despite recent weak market origin data, we expect the company to reiterate its customer growth guidance and highlight continued strong growth trends, underscoring market share gains,” Percoco said. Based on Sunnova’s consensus target price, its shares could trade higher than they currently are. Levels soared nearly 63%. More than three-quarters of analysts have Buy ratings on the stock. Shares will rise 27.3% in 2023. Maxeon stock is headed for a 68% gain in 2023, and based on the stock’s average price target, it could rise another 50%. Percoco noted that lower prices in the solar panel market due to oversupply could put pressure on the company’s margins in 2024. Of course, he noted that “MAXN is largely priced in for the rest of 2023 and is well positioned with its premium DG product.” 71.4% of analysts have Buy ratings on the stock, according to FactSet data. Other stocks highlighted on the screen include Array Technologies, SolarEdge Technologies and Enphase Energy. —CNBC’s Michael Bloom contributed to this report.