Invesco has announced the launch of its Solar Energy ETF.

The ETF is focused on leading companies in solar energy technology and will track the performance of the MAC Global Solar Energy Index. The index includes companies deriving a significant amount of their revenues from (a) producing solar power equipment including tracking systems, inverters, batteries and other energy storage systems, (b) supplying raw materials, components or services to solar producers or developers, or (c) solar power system installation, development, integration, maintenance or finance.

Gary Buxton, Head of EMEA ETFs and Indexed Strategies at Invesco, said: “Leaders of the major economies of the world may not agree on many things, but they are united in tackling climate change. With the goal of reaching net zero carbon emissions in the next few decades, plans set out by the governments of the US, UK, EU and China all involve a substantial increase in their capacity to generate electricity from renewable energy. Their ambitious plans become realistic when you consider the economics with solar energy on track to soon become the lowest-cost electricity in history.”