Solar standard bearer bleeds cash as investors turn cold
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Invesco's Solar ETF (NYSEARCA:TAN) suffered $417M of outflows in December, the worst month in its 14-year history, as solar stocks have been burned by a range of problems from potential rate hikes to the shaky outlook for subsidies.

Several solar stocks have lost more than 10% in the past month, including FSLR
-13%, SPWR
-14%, ENPH
-30%, MAXN
-26%, SEDG
-14%, RUN
-21%.
The sector was hit last month after California proposed a subsidy cut for homeowners' solar systems, although Governor Gavin Newsom says changes are still needed before the proposal is finalized.
Also, Florida's legislature is considering a bill that would crack down on rooftop solar credits, and the plan is supported by NextEra Energy's (NYSE:NEE) Florida Power & Light.
Delays to President Biden's Build Back Better plan likely means some clean energy subsidies will be dropped as the bill gets "watered down," CFRA's Todd Rosenbluth tells Bloomberg.
Solar companies also could suffer from higher interest rates because they rely heavily on leverage to finance their activities, according to WallachBeth Capital's Mohit Bajaj.
Other funds that focus on renewable energy, such as the iShares Global Clean Energy ETF (NASDAQ:ICLN) and the ALPS Clean Energy ETF (NYSEARCA:ACES), also have lost value, though not as much as Invesco's ETF.
Meanwhile, nuclear power is winning fresh looks from governments trying to achieve net-zero emissions, sparking some investor interest in uranium stocks and the Global X Uranium ETF.