ETFdb Logo
  • ETF Database
  • Channels
    • Themes
      • Active ETF
      • Alternatives Channel
      • Artificial Intelligence
      • China Insights
      • Climate Insights
      • Core Strategies
      • Crypto
      • Disruptive Technology
      • Energy Infrastructure
      • ETF Building Blocks
      • ETF Education
      • ETF Investing
      • ETF Strategist
      • Faith-Based Investing
      • Financial Literacy
      • Fixed Income
      • Free Cash Flow
      • Innovative ETFs
      • Invest Beyond Cash
      • Leveraged & Inverse
      • Modern Alpha
      • Portfolio Strategies
      • Tax Efficient Income
    • Asset Class
      • Equity
        • U.S. Equity
        • Int'l Developed
        • Emerging Market Equities
      • Alternatives
        • Gold/Silver/Critical Materials
        • Crypytocurrency
        • Currency
        • Volatility
      • Fixed Income
        • Investment Grade Corporates
        • US Treasuries & TIPS
        • High Yield Corporates
        • Int'l Fixed Income
    • ETF Ecosystem
    • ETFs in Canada
    • Market Outlook
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Database Categories
    • Indexes
    • Scenario Analysis
    • Watchlists
    • Head-To-Head ETF Comparison Tool
    • Mutual Fund To ETF Converter
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
  • Research
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF of the Week Podcast
    • Gaining Perspective Podcast
    • ETF Prime Podcast
    • Video
  • Company
    • About VettaFi
    • Get VettaFi’ed
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Innovative ETFs Channel
  2. Lots of Renewable Energy Rebound Candidates in This ETF
Innovative ETFs Channel
Share

Lots of Renewable Energy Rebound Candidates in This ETF

Tom LydonJan 05, 2023
2023-01-05

While there were some encouraging headlines and political moves this year, renewable energy equities will wrap up 2022 in disappointing form, but there is a silver lining.

That silver lining arrives the form of clean energy exchange traded funds, such as the Invesco WilderHill Clean Energy ETF (PBW B), now being homes to an array of stocks that could be prime bounce-back candidates in 2023.

That case is supported by fundamentals and isn’t rooted in the notion that simply because renewable energy equities slipped this year they’re due to bounce back in 2023. Speaking of fundamentals, the International Energy Agency (IEA) recently forecast that nearly 3,900 of gigawatts of new renewable power will come online over the next five years.

“The first truly global energy crisis, triggered by Russia’s invasion of Ukraine, has sparked unprecedented momentum for renewables,” noted IEA. “Renewables [will] become the largest source of global electricity generation by early 2025, surpassing coal.”

Looking ahead to 2023, analysts remain bullish on select solar and wind energy stocks, plenty of which reside in the PBW portfolio. The ETF, which tracks the WilderHill Clean Energy Index, holds 84 stocks. That’s one of the larger lineups in the renewable energy ETF category, and as such, PBW features ample exposure to solar and wind names, among others.

Among the PBW components that Wall Street is bullish on is ReNew Energy Global PLC (NASDAQ:RNW), which is one of the ETF’s holdings from the utilities sector. That group accounts for almost 8% of the PBW roster.

Renew is a “Nasdaq-listed company that primarily builds and operates solar and wind energy projects in India. The median average of analyst price targets shows that the stock is expected to rise by 84.5% in the next 12 months,” reported Ganesh Rao for CNBC. “The firm, which counts Goldman Sachs as one of its investors, is expected to see revenues soar by 24% next year. Last month, it signed an agreement with Egypt to set up a green hydrogen plant in the Suez Canal with an investment of $8 billion.”

Analysts are also constructive on multiple solar names, some of which are PBW member firms. That group includes Sunnova Energy International Inc. (NASDAQ:NOVA).

That stock “has the biggest potential upside, with shares expected to rise by 72% to $36, according to the median average of analyst price targets,” according to CNBC. “The residential solar energy provider is expected to report a 41% gain in subscribers by the end of this year compared to last year. It will likely continue on those substantial gains and see sales grow by 42% next year.”

For more news, information, and strategy, visit the Innovative ETFs Channel.

Loading Articles...
Our Sites
  • VettaFi
  • Advisor Perspectives
  • ETF Trends
Tools
  • ETF Screener
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Database Pro
More Tools
  • Financial Advisor & RIA Center
Explore ETFs
  • ETF News
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Information
  • Contact Us
  • Terms of Use and Privacy Policy
  • © 2025 VettaFi LLC. All rights reserved.

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X