Looking at 2020 as a whole, the overall performance of clean...
Looking at 2020 as a whole, the overall performance of clean energy stocks was impressive. The Invesco Solar ETF (NYSE: TAN), which tracks a basket of solar stocks, returned 234% last year, while the Invesco WilderHill Clean Energy ETF (NYSE: PBW), which invests more extensively in various alternative energy sources, had a return of 205%. In contrast, the SPDR S&P 500 (NYSE: SPY), which tracks the S&P 500 index, has a return of 18%.
Undoubtedly, the results of the US presidential election contributed to the rise of these clean energy assets. Unlike Trump, who promotes fossil fuels, Biden has proposed a $2 trillion climate plan with the goal of “achieving a carbon-free electricity industry by 2035” — which is more aggressive than California's goal of producing carbon-free energy in 2045.
Undoubtedly, the results of the US presidential election contributed to the rise of these clean energy assets. Unlike Trump, who promotes fossil fuels, Biden has proposed a $2 trillion climate plan with the goal of “achieving a carbon-free electricity industry by 2035” — which is more aggressive than California's goal of producing carbon-free energy in 2045.
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