))
Build Backwards Better? Renewable Energy in 2022
Manage episode 318866048 series 2907084
Content provided by Money & Markets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Money & Markets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In 2020, investors piled millions of dollars into renewable energy stocks as the U.S. moved toward relying more on clean energy and less on traditional fossil fuels.
Clean energy stocks soared.
Exchange-traded funds (ETFs) holding these stocks crushed the 17.2% gains we saw in the S&P 500 in 2020:
· Global X Renewable Energy Producers ETF (RNRG) jumped 26%.
· First Trust Global Wind Energy ETF (FAN) pushed 62.2% higher.
At the start of 2021, renewable energy stocks were poised to climb even higher when President Joe Biden announced his Build Back Better bill. It included 10-year, full-value tax credits for new clean energy electricity generation. He even offered tax refunds.
The plan projected to create 600,000 new jobs in clean energy and lower power emissions to sub-2005 levels by 2031.
In this episode of The Bull & The Bear, I tell you why a wrinkle in the growth of renewable energy is only temporary.
Be sure to also subscribe to our YouTube channel for more videos like my weekly Marijuana Market Update.
Have something you want us to talk about? Email thebullandthebear@moneyandmarkets.com and give us your thoughts.
Check out moneyandmarkets.com, and sign up for our free newsletters that deliver you the most important and unbiased financial news, commentary, and actionable advice.
Also, follow us on:
178 episodes
Share
