John Seetoo

Clean energy ETFs have surged over 25 percent in 2026, with the Invesco Solar ETF up 28 percent year-to-date and the Invesco WilderHill Clean Energy ETF up 31 percent. Unlike prior policy-driven rallies, this run is being driven by structural factors: AI-driven data center demand that utilities cannot meet without renewables, solar's cost competitiveness at $39 per megawatt-hour, and a domestic US manufacturing base protected by tariffs on Chinese modules. The backdrop matters because clean energy funds lost 45 percent cumulatively from 2022 to 2024, making this recovery from deeply depressed valuations.