TAN Stock Recent News
TAN LATEST HEADLINES
The sun is rising on a greener future as solar investment is set to hit an unprecedented milestone, overshadowing oil funding for the first time.
Another week has gone, and it's foreign equities that led in the week's top-performing ETFs. Investors looked abroad to both commodities centers and events like Turkey's election in their ETFs.
The renewable energy space continues to struggle against the broad market as oil prices dip and fears of a recession loom. I reiterate my sell rating on TAN as its chart is not encouraging.
Rising oil prices are likely to boost the demand for renewable energy. Favorable government policies, increased environmental awareness, technological advancements, and declining costs of renewable energy production are other tailwinds.
After declining on Wednesday, SolarEdge Technologies (SEDG) is the top gainer in the S&P 500 in midday trading on Thursday, lifting clean energy ETFs. SolarEdge is up nearly 8% as the stock rebounds off yesterday's losses when it fell 1.18% on Wednesday.
While sustainability motives drive some investors, the clean energy megatrend presents financial opportunities for all investors. It's undeniable that significant capital is being invested in creating a greener future, as concerns about the effects of climate change on the worldwide economy grow.
Wall Street ended a tumultuous week in the green amid continued worries over the banking system.
The stock market may look gloomy today, but it may not be long before a big rally takes place. Investing in exchange-traded funds with promising growth prospects can make good sense.
Despite declining in February, Invesco's clean energy ETFs are outpacing broad U.S. indexes year to date. Invesco's broad clean energy fund, the Invesco WilderHill Clean Energy ETF (PBW), has gained 6.47% since year to date as of March 9, while the Invesco Solar ETF (TAN) has increased 5.59%.
With lowered costs and tax incentives available through the Inflation Reduction Act, solar power and wind energy are on track for meteoric growth within the U.S. As a share of new electric-generating capacity each year, solar and wind power is seeing substantial growth, according to the U.S. Energy Information Administration.