AES Clean Power has removed more than 100 older turbines and replaced them with 16 new Vestas in Palm Springs, California, U.S. July 21, 2022.
Clean energy stocks are out of vogue, as higher interest rates and lagging efforts to combat climate change dog the sector. Those obstacles might not go away anytime soon.
The iShares Global Clean Energy exchange-traded fund, which tracks the performance of sectors from renewable electricity to semiconductors to solar energy, has slumped 27% this year, underperforming the MSCI All-Country World index’s 15% gain. The fund is on pace for its third straight annual loss.
Plug Power shares have slipped 63% this year, Enphase Energy shares have plunged 60%, SolarEdge Technologies shares have declined 71% and NextEra Energy shares have slid 29%.
Energy News Beat