Investors Dump Renewable Energy Funds Amid U.S. Policy Uncertainty

Uncertainty about the pace of renewable energy growth with the U.S. presidential election approaching has pushed investors to withdraw money from funds invested in renewables stocks—so much that these funds booked the biggest quarterly withdrawal ever in the first quarter of the year. Exchange traded funds that invest in stocks of renewable energy firms saw a combined outflow of $4.8 billion during the first quarter, according to LSEG Lipper data cited by Reuters.

This compares to a 16% jump in the S&P 500 Energy Index amid a rally in oil and gas stocks so far this year. While oil stocks are staging a rally that eclipsed the Big Tech stocks and all other 10 S&P sectors last month, major renewables companies are flagging additional pain for alternative energy players.

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