3 Renewable-Focused ETFs Just Hit 3-Year Lows. Are They Worth Buying Now?
The renewable energy industry is in a brutal multi-year downturn. After a rip-roaring 2020, it's been mostly downhill as rising interest rates have taken a sledgehammer to the return on investment of projects financed with debt.
Geopolitical tensions have also emphasized energy security over the energy transition. And although many long-term emissions reduction goals remain intact, the relative strength of oil prices indicates that fossil fuels, at least for now, are in the driver's seat.
Investors looking to take a deep breath and step into a troubled industry could consider investing in an exchange-traded fund (ETF) with high exposure to the renewable energy industry. The First Trust NASDAQ Clean Edge Green Energy ETF (NASDAQ: QCLN), iShares Global Clean Energy ETF (NASDAQ: ICLN), and Invesco Solar ETF (NYSEMKT: TAN) are all at multi-year lows. Here's what makes each ETF a turnaround play to consider now.
Source Fool.com
