ACES ETF has underperformed in the clean energy sector, but offers a diversified portfolio with leading electric vehicle companies. The renewable energy sector is projected to grow rapidly, creating job opportunities and increasing demand for specialized labor. Despite challenges, advancements in clean energy technology and increasing global energy consumption present opportunities for growth in the clean energy industry and stock market.
After a dismal performance in the first four months, the renewable energy space showed a remarkable comeback in May driven by bullishness surrounding artificial intelligence (AI).
Yes, AI is using quite a lot of energy. However, should that technology develop in the way its proponents believe it will, it could propel clean, renewable, energy-efficient technologies.
Renewable energy ETFs are making a comeback after a dismal showing in the first half of the year. And much of the gains have been fueled by an unlikely source – the rising tide of bullishness over artificial intelligence.
On a year-to-date basis, many clean energy stocks and related ETFs are saddled with steep losses. However, some of those assets are proving responsive to recent positive headlines regarding renewable adoption.