With oil prices booming, solar and renewable energy ETFs are on the move. The Invesco Solar ETF (TAN) is up nearly 18% in the past month. IShares S&P Global Clean Energy Index Fund (ICLN) is up 18% as well. The Invesco Wilderhill Clean Energy ETF is also up 16% in the past month.
ETF Newz Says:
Oil prices are soaring reaching over $100 a barrel which means gas prices as high as $5-6 a gallon. Alternative energy gets a longer look once again. With Energy prices on the rise, solar can be more competitive.