Down 14% year-to-date, the
Invesco Solar ETF (TAN) is cooling off following a blistering run in 2021, but analysts believe that many solar stocks can bounce back.
The TAN ETF is based on the MAC Global Solar Energy Index. The Fund will invest at least 90% of its total assets in the securities, American depositary receipts (ADRs), and global depositary receipts (GDRs) that comprise the Index.
With solar companies heading to the first-quarter earnings confessional next week, TAN could have the catalysts for a near-term rebound.
“The bar is low (for a change); expect beats in [residential],” Goldman Sachs said in a research note cited by CNBC. “Significant underperformance in solar equities in recent months has created an attractive buying opportunity for the group.”
The sun could very well keep shining on the
Invesco Solar ETF (TAN) after U.S. president Biden unveiled his infrastructure plan on March 31. The push for renewable energy sources can continue to fuel TAN and other clean energy ETFs.
“President Joe Biden rolled out his infrastructure package called the American Jobs Plan on March 31 in Pittsburgh, Pennsylvania,” a Solar Power World article said. “The plan includes a large investment in re-energizing the country’s power infrastructure and boosting renewable energy development.”
“The plan aims to create a more resilient grid, lower energy bills for middle class Americans, improve air quality and public health outcomes, and create good jobs, with a choice to join a union, on the path to achieving 100% carbon-free electricity by 2035,” the article added.
Up 255%, This Solar ETF Will Have Even More Days in the Sun
A recent pullback in clean energy stocks portends opportunity with several exchange traded funds, including the
Invesco Solar ETF (TAN). New data is confirming the durability of solar power during the coronavirus pandemic.
TAN seeks to track the investment results of the MAC Global Solar Energy Index, which is designed to provide exposure to companies listed on exchanges in developed markets that derive a significant amount of their revenues from solar power equipment producers, including ancillary or enabling products.
Over the past year, the fund is up a whopping 255%.
15 Biggest Renewable Energy Companies and Stocks
15 Biggest Renewable Energy Companies and Stocks. Click to skip ahead and jump to the
Renewable energy is one of the hottest industries amid excellent growth prospects, driven by the world’s shifting focus towards green energy, climate-friendly and cost-effective technologies. Data from U.S. Energy Information suggests that electricity generation from renewable energy in 2021 will increase to 21% in 2021 from 20% in 2020. According to Deloitte, as of December 2020, the share of renewables surpassed that of coal in power generation for 153 days compared with 39 days in 2019. Renewable energy is gaining support worldwide, driven by the Paris agreement and realization by governments that adapting renewable energy is sustainable and cost effective. Industries are also ditching conventional energy means in the favor of renewable energy. From 2016 to 2019, coal-fired electricity generation plummeted 22%, according to U.S. Energy Informa
A Complete Guide to Clean Energy ETFs yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.