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Carbon Bubble

Investors Flee Solar ETF on Shaky Subsidies and Rate Hike Danger

Invesco’s TAN outflows reached a record $417 million during the month of December.

Workers install solar panels at a home in Lafayette, California.

Workers install solar panels at a home in Lafayette, California.

Photographer: David Paul Morris/Bloomberg

A one-time standard bearer for the boom in clean-energy funds is bleeding cash as solar stocks are battered by everything from rising rates to possible subsidy reductions — and President Joe Biden’s stalled infrastructure plan. 

Invesco Ltd.’s $2.4 billion Solar ETF (ticker TAN) suffered $417 million of outflows in December, the worst month in its nearly 14-year history. The outflows have continued as its share price has dropped almost 30% since October.