As renewable technologies continue to advance, the industry will increase efficiency and decrease costs. According to BNEF, every time global wind power doubles, there is a 19% decline in costs. Every time solar power doubles, costs fall off 24%.
“The First Trust NASDAQ Clean Edge Green Energy Index Fund has racked up a three-year total return of 8.30%, and this ETF is poised for greater gains in 2016 and beyond, as renewables increasingly join the mainstream of energy production,” according to TheStreet.con.
The First Trust Global Wind Energy Fund (NYSEArca: FAN), which focuses on the wind industry, is another alternative energy idea.
For more information on the green energy space, visit our clean energy category.
First Trust NASDAQ Clean Edge Green Energy Index Fund
