Pinnacle West Capital Corporation’s PNW planned investments in strengthening its infrastructure and an increasing focus on renewable sources for power generation will help it take advantage of the expected demand surge for clean energy. Also, the company’s efforts to reduce costs will drive its earnings.The Zacks Consensus Estimate for 2021 earnings is pegged at $4.96 per share, indicating growth of 1.85% from the year-ago reported figure. Also, the consensus mark for current-year revenues stands at $3.66 billion, suggesting 1.92% growth from the prior-year reported number. Additionally, long-term (three-five years) earnings growth of the company is pegged at 5%.The stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. In the past three months, shares of the company have lost 9.4% against the industry’s rise of 2.6%.Three Months Price PerformanceImage Source: Zacks Investment ResearchTailwindsPinnacle West’s investments in clean power generation, and transmission and distribution lines will help it expand its customer base with better efficiency. After investing $1,262 million in 2020, it spent $681.1 million in the first six months of 2021, up 0.6% from the level registered in the prior-year comparable period. Also, the utility has plans to spend $1,500 million, annually, through the 2021-2023 forecast period. Moreover, it is working to reduce costs, which will help keep the customer rates low as well as enhance its customer benefits and shareholder value.Apart from growing its utility infrastructure, Pinnacle West continues focusing on expanding its generation from renewable sources. In the 2021-2023 time frame, the company will invest $1,112 million in increasing clean power generation. It also aims to deliver 100% carbon-free electricity to its customers by 2050. This includes a near-term target of attaining a resource mix within 2030 comprising 65% clean energy and 45% of renewable sources.Some other players from the same industry are also making efforts to supply clean energy to their customers and enrich the reliability of their services. Companies like Duke Energy DUK, DTE Energy DTE and Xcel Energy XEL intend to provide absolute clean energy by 2050.HeadwindsPinnacle West’s progress could be hindered by fluctuations in commodity prices, stringent environmental regulations and unplanned outages in nuclear-generation facilities. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Xcel Energy Inc. (XEL): Free Stock Analysis Report Duke Energy Corporation (DUK): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report Pinnacle West Capital Corporation (PNW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research