The ALPS Clean Energy ETF (ACES) jumped 9.26% in January as investors turned their attention to the massive power requirements of AI data centers and the infrastructure needed to support them, according to recent ALPS Advisors insights.
The fund, which tracks seven clean energy segments including solar, wind, and energy storage, has attracted $115.8 million in assets since launching in June 2018, according to ETF Database. ACES returned 36.2% over the past year, outpacing the S&P 1000 Index’s 8.07% gain over the same period.
Rising electricity demand from AI computing facilities has refocused investor interest on companies that build batteries, manage power grids, and develop renewable generation capacity needed to handle these high-utilization loads, according to the ALPS report.
Energy Investment Reaches Record Levels
Energy storage companies drove much of the fund’s January performance, according to ALPS. Fluence Energy (FLNC), which holds a 2.4% weight in ACES, surged 55.6% after winning contracts to supply battery technology for an Arizona clean energy project expected to include 1,200 megawatt-hours of storage capacity.
Eos Energy Enterprises (EOSE), representing 4.6% of the fund, advanced 27.8% following the launch of its new zinc-powered battery architecture, according to ALPS. The company said the technology aims to deliver roughly four times the storage capacity per acre compared to many competing systems.
Battery and materials suppliers also rallied. Amprius Technologies (AMPX) climbed 57.7% while Albemarle (ALB), which makes up 6.4% of the fund, rose 20.6% as investors grew more optimistic about lithium-ion supply chains serving both electric vehicles and data centers, ALPS said.
Solar equipment makers participated in the gains as well, according to ALPS. Nextracker (NXT), the fund’s largest holding at 6.1%, jumped 34.4% while Array Technologies (ARRY) gained 22.8%.
BloombergNEF projects average annual global energy transition investment will reach around $2.9 trillion per year over the next five years, with spending led by electrified transport, renewable energy, and power grids.
Global energy transition investment hit a record $2.3 trillion in 2025, up 8% from 2024, with the largest categories being electrified transport at $893 billion, renewable energy at $690 billion, and power grids at $483 billion, according to the ALPS report.
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