3 Clean Energy ETFs Near Their 52-Week Lows to Buy Now
Clean energy stocks have had a volatile few years, to say the least. Many renewable energy stocks, particularly in the solar energy industry, skyrocketed in 2020 as oil and gas prices crashed and investor sentiment was positive. That enthusiasm carried over into 2021 before inflation and rising interest rates threw a wrench into the rally.
However, favorable U.S. government policy, most notably the tax credits and funding available from the Inflation Reduction Act (IRA), is a catalyst that could spark a renewed interest in clean energy. At least in the short term, many companies that benefit from the IRA have seen their stock prices tumble toward 52-week or even multi-year lows.
With many solar, wind, hydrogen, electric vehicle (EV), utilities, and power generation stocks down big, now looks like a good time to buy the dip in clean energy stocks. For investors who prefer diversification, exchange-traded funds (ETFs) with access to various industries and geographies may be the best all-around option.
Source Fool.com
