After soaring during the global energy crisis triggered by the Covid pane3dmic and Russia’s war in Ukraine, the renewable energy sector has fallen back to earth, with high interest rates and a weaker global economy acting as headwinds for clean energy equities. The sector’s favorite benchmark, iShares Global Clean Energy ETF (NASDAQ:ICLN), is deeply in the red, with a -18.
2% return in the year-to-date, compared to a 6.6% gain by its fossil-fuel equivalent, the Energy Select Sector SPDR Fund (NYSEARCA:XLE) and 12.1% return …The U.S. Is Quietly Building Several Renewable Energy Megaprojects
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