Solar ETFs
Solar energy is one of the fastest-growing segments of the global energy transition, driven by rapidly declining module costs and expanding utility-scale deployment.
This page lists all US-listed ETFs providing dedicated exposure to companies across the solar energy value chain, from panel manufacturers to project developers.
Click any row to expand fund details and top holdings.
| Fund | Ticker | AUM ▼ | ||||
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Invesco Solar ETFInvesco
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TAN | $2,292M | ||||
Invesco Solar ETFThe Invesco Solar ETF (TAN) is the largest and most established solar-focused ETF available to US investors. Launched in April 2008, TAN tracks the MAC Global Solar Energy Index, which is designed to measure the performance of companies involved in various segments of the solar energy industry — from manufacturers of photovoltaic cells and modules to solar project developers and installers. TAN provides diversified global exposure across the solar value chain, holding approximately 43 stocks across 23 developed market countries. The fund’s broad approach captures upstream equipment manufacturers like First Solar alongside downstream developers and integrators. With approximately $1.5 billion in AUM, TAN offers strong liquidity and tight bid-ask spreads, making it the go-to choice for investors seeking dedicated solar energy exposure through a single fund. Fund Details
AUM$2,292M
Expense Ratio0.70%
Inception4/15/2008
ExchangeNYSE Arca
StructureETF
Top 5 Holdings
First Solar Inc. (FSLR)10.22%
Nextracker Inc. (NXT)9.71%
Enlight Renewable Energy (ENLT)6.74%
Enphase Energy Inc. (ENPH)5.55%
Sunrun Inc. (RUN)5.33%
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Key Terms
Full Glossary →
The series of activities involved in producing solar energy — from raw material processing and cell manufacturing through module assembly, project development, installation, and grid integration. ETFs in this space may focus on specific segments or provide broad exposure across the entire chain.
The physical panel that converts sunlight into electricity using semiconductor materials. PV module manufacturers such as First Solar and LONGi are typically among the largest holdings in solar ETFs.
The power-electronics device that converts the direct current (DC) output of solar panels into alternating current (AC) for the grid or building loads. Central inverters (Sungrow, Sineng, SMA) are large units of 1–8 MW used in utility-scale projects. String inverters (Sungrow, Huawei, GoodWe, Solis, Solax) handle 3–350 kW for commercial-and-industrial and smaller utility-scale projects, and have been gaining share against central inverters. Microinverters (Enphase, Hoymiles) operate at the panel level, providing per-module monitoring and superior shade tolerance at higher per-watt cost, and are the dominant choice in US residential. Hybrid inverters (Deye, GoodWe, Sungrow) integrate a battery interface for solar-plus-storage applications.
The ratio of actual electricity generated to maximum theoretical generation if a turbine ran at full output continuously. Modern onshore wind capacity factors are typically 30–45%; offshore wind 40–55%+. Capacity factor drives project economics and is a function of resource quality, turbine technology, and downtime.
The annual fee charged by an ETF to cover management, administration, and operational costs, expressed as a percentage of assets under management. A lower expense ratio means less drag on returns over time.
The total market value of all investments managed by an ETF. Higher AUM generally indicates greater liquidity, tighter bid-ask spreads, and lower trading costs for investors. AUM fluctuates with market prices and fund inflows or outflows.
FAQ
There is currently one US-listed ETF with dedicated solar energy exposure — the Invesco Solar ETF (TAN), with approximately $1.5 billion in AUM. The Global X Solar ETF (RAYS) was previously available but was closed and delisted in August 2025 due to limited asset gathering.
The Invesco Solar ETF (TAN) is the only dedicated solar ETF available to US investors, with an expense ratio of 0.70%. Broader clean energy ETFs like the iShares Global Clean Energy ETF (ICLN) at 0.41% offer lower fees but with diluted solar exposure across wind, hydro, and other renewables.
Solar ETFs invest exclusively in companies involved in solar energy production, equipment manufacturing, and related services. Renewable energy ETFs provide broader exposure across multiple clean energy sources including solar, wind, hydroelectric, and geothermal. Solar ETFs offer more concentrated exposure to the solar industry’s growth but carry higher sector-specific risk.
Solar ETFs typically hold a mix of companies across the solar value chain, including PV module manufacturers (First Solar, LONGi), inverter companies (Enphase Energy, SolarEdge Technologies), residential solar installers (Sunrun), utility-scale project developers, and companies involved in solar tracking systems (Nextracker).
Solar ETFs provide targeted exposure to one of the fastest-growing segments of the energy transition. However, the solar industry is cyclical and sensitive to policy changes, trade tariffs, and commodity prices. As with any sector-focused investment, solar ETFs should typically be used as a satellite position within a diversified portfolio rather than a core holding.