2 Of The Top 5 World Economies Can Now Run 100% On Renewable Energy
Portfolio Pulse from Natan Ponieman
California and Germany have made significant strides towards 100% renewable energy, with California's power supply recently being over 70% renewable on average. The clean energy sector faces uncertainty with the upcoming 2024 presidential election. ETFs like iShares Global Clean Energy ETF (ICLN) and Invesco Solar ETF (TAN) have seen minor upticks this week, despite losses over the past year. Stocks such as NextEra Energy Inc (NEE), First Solar Inc (FSLR), and Clearway Energy, Inc. (CWEN) are recovering but still down from last year's prices.
March 29, 2024 | 12:48 pm
News sentiment analysis
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POSITIVE IMPACT
Clearway Energy, Inc. is up 4% in the past month and down 25% in the last year.
CWEN's performance indicates a slow but positive movement towards recovery in the clean energy sector.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
First Solar Inc is up 12% in the last month but down 20% in the last year.
FSLR's recent uptick reflects a positive outlook for the solar industry, despite the overall yearly loss.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
iShares Global Clean Energy ETF is down 25% since last year but up 1.4% this week.
The uptick in ICLN's price this week could be attributed to positive developments in renewable energy, particularly in California's progress towards 100% renewable energy.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
NextEra Energy Inc is up 16% in the last month but remains 15% under its last-year price.
NEE's recent performance suggests a recovery in investor confidence in renewable energy, despite its year-over-year loss.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
Invesco Solar ETF has lost 37% of its value in the last year but is up 2.3% this week.
TAN's recent gain could be influenced by the overall positive sentiment towards renewable energy, despite its significant loss over the past year.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90