Utilities Offer Yield and a Way to Play Green Energy. And Their Stocks Are Cheap.

Asquat power plant with smokestacks may not be what environmentally conscious investors have in mind when they go looking for stocks. Yet electric utilities are at the center of a seismic shift away from coal and toward wind and solar power over the next 15 years. That is expected to be a huge boon to both the environment and investors—and utility company stocks and funds are a cheap way to plug into this critically important transition.

By the next decade, clean power sources such as wind and solar are projected to provide…