Covid-19 certainly did a number on business sectors across the spectrum, but one area that didn’t suffer was electricity generation via wind and solar power. In fact, the use of wind and solar for electric power doubled in the last five years, which underscores the ability for renewable energy sources to thrive amid a black swan event triggering an economic downturn.

“During the pandemic and severe economic downturn with massive job losses, there has been a great deal of bad and disturbing news,” a CleanTechnica article noted. “A little bit of good news in that mix is the recent finding that global wind power and solar power electricity generation doubled in the last five years, according to a new report from EMBER. As wind power and solar power grow, it is possible for nations around the world to reduce their over-reliance on fossil fuels and nuclear power. Dave Jones, a Senior Electricity Analyst with EMBER, answered some questions for CleanTechnica about this trend and related topics.”

Dave Jones noted in the interview that the impact of the pandemic “of lower electricity demand and lower fossil generation was not what drove wind and solar’s market share up to a tenth of global electricity supply in 2020 so far, rather it was the continual new-build of new wind and solar. Sure, fossil generation is picking up a little as electricity demand increases post-COVID, but this translates very little into the wind and solar market share.”

For investors looking to capitalize on solar energy, one fund to look at is the Invesco Solar ETF (NYSEArca: TAN). TAN, which started back in 2008, seeks to track the investment results of the MAC Global Solar Energy Index, which is designed to provide exposure to companies listed on exchanges in developed markets that derive a significant amount of their revenues from the following business segments of the solar industry: solar power equipment producers including ancillary or enabling products.

TAN Chart

TAN data by YCharts

Investors who want to capitalize on increasing reliance on wind as an alternative energy resource, they can look at the First Trust Global Wind Energy ETF (NYSEArca: FAN). The fund seeks investment results that correspond generally to the price and yield of an equity index called the ISE Clean Edge Global Wind EnergyTM Index.

FAN’s index provides a benchmark for investors interested in tracking public companies throughout the world that are active in the wind energy industry. In order to be eligible for inclusion in the index, a security must be issued by a company that is actively engaged in some aspect of the wind energy industry.

For more market trends, visit ETF Trends.