Ownership of renewable energy stocks is as crowded a trade as technology stocks were at the height of the 1999 dotcom boom, according to index provider MSCI.
The claim follows a flood of investment into the sector, with global inflows into clean energy exchange traded funds surging to $14.7bn in the six months to the end of March, according to data from Morningstar, up from just $1.3bn in the same period of 2019-20.
This helped push stock prices sharply higher with the S&P Global Clean Energy index jumping 150 per cent in the year to the end of March, pushing sector-wide price earnings ratios above 35.
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