The so-called "clean tech" universe is attracting more dollars as investors bet on the energy transition, and Cowen put together a list of top picks to play the theme.
The firm said that the pandemic, while initially halting renewable energy installments, ultimately accelerated transitions that were underway, thanks in part to government stimulus packages.
"Sentiment greatly improved in 2020 despite COVID-19 challenges, and 2021's prospects remain positive despite recent pullbacks in valuation."
Cowen said that while compiling the list, now in its sixth year, it noticed changes in how investors approach sustainable energy.
For one, a shift toward ESG or environmental, social and governance factors, has driven dollars into the sector.