Iâm searching for the best stocks to buy to help me make excellent investor returns by 2030. Here are two penny stocks on my radar today.
An exciting electric car stock to buy
The Bradda Head Lithium (LSE: BHL) share price has more than tripled in value over the past year. Strong drilling results at the firmâs lithium projects in Arizona, and signs of growing demand for electric vehicles (EVs), have helped power the business higher. To illustrate the point, Bradda Headâs latest exploration update in January suggested that confirmed resources at the Basin East project will be âsignificantly largerâ than previous forecasts. Fresh news on drilling work is being released in the current quarter.
Lithium is a key component in helping EVs to move around. And Bradda Headâs assets — it also owns a couple of lithium brine assets in Nevada — are located very close to EV car-building country. Teslaâs Fremont facility is in California and its under-construction Nevada gigafactory is just up the road too. There are also many battery manufacturers located around the West Coast to which Bradda can sell its lithium as well.
EV sales look set to soar
Of course Bradda Head has a long way to go before it can start pulling its lithium out of the ground. And any setbacks on this front could have a significant impact on the companyâs share price. That being said, I think the quality of the firmâs assets and bright forecasts for EV demand in the years ahead still make the stock a top buy today. The International Energy Agency (IEA) said annual EV sales will reach 25.8m a year by 2030 (based on green policies in mid-2021).
That being said, recent news flow suggests that actual sales could actually exceed even the IEAâs super-bright forecasts. Just last week US President Biden announced plans to boost EV sales by investing $5bn in the countryâs charging network. Iâm expecting new ambitious plans from across the globe to follow as nations strive to achieve their emissions targets.
Another green penny stock I like
Sticking with the green theme, I think US Solar Fund (LSE: USFP) could also be a great share to buy as demand for renewable energy soars. As the name suggests, this London-listed penny stock specialises in generating energy from photovoltaic panels in the US. More specifically its assets can be found in California, North Carolina, Utah and Oregon.
I like US Solar Fund because it operates in a country where legislation is particularly encouraging for renewable energy stocks like this. Iâm also a fan of the fund because it continues to make progress in building its portfolio. Earlier this month it acquired an extra 25% stake in the 200 MW DC Mount Signal 2 solar plant in Southern California. This takes its total holding to 50%.
US Solar Fund could suffer temporary profits trouble if the sun fails to shine. The company doesnât make any money if it isnât making energy! But from a long-term view, I still think this penny stock could deliver excellent returns if I buy.