With Joe Biden heading to the White House, green stocks could see a good deal of upside.
For one, “A Biden administration will mean more regulatory scrutiny for financial and energy stocks and probably higher taxes across the board,” says Rodney Johnson, president of economic research firm HS Dent Publishing, as quoted by Kiplinger. “But there will be opportunities. Infrastructure spending, green energy and health care are all Democratic priorities and should do well under a Biden presidency.”
Two, Biden has already said the U.S. will rejoin the Paris Climate Accord. And three, Biden mentioned $2 trillion clean energy plan, with hopes for net zero emissions by 2050.
That’s great news for green stocks across the board, including ETFs like iShares Global Clean Energy (ICLN)
One of the best ways to diversify a green portfolio is with an ETF, such as ICLN. Not only does this ETF give investors exposure to related stocks, such as Plug Power, Enphase Energy, Vestas Wind Systems, First Solar Inc., and Sunrun Inc., it does so at less cost. For example, if you were to buy 10 shares of every listed stock, it would cost thousands of dollars. But with this ETF you can gain exposure at just $25 a share.