As a candidate, Donald Trump called global climate change a hoax, said he wanted to throw out international climate agreements and put fossil fuels at the center of his energy agenda.
Though President-elect Trump stepped back from some of his more fiery rhetoric on environmental issues this week, uncertainty remains among investors.
The PowerShares WilderHill Clean Energy Portfolio ETF, which counts Tesla as its top holding, dropped the day after the election, but has since recovered all that loss and then some. The Guggenheim Solar ETF is off more than 6 percent since the election, but has rebounded from its November low.
Some analysts caution that it is too early to assume renewables are under a great political threat. The picture is more nuanced, even if some market reactions have appeared broad-based and harsh.
Trump's rhetoric and campaign promises have suggested this administration will be less supportive of regulating emissions and of investing in renewable energy than the Obama administration. And many of Obama's executive orders on environmental issues could be rewritten or tossed entirely. Indeed, Trump's campaign promised to "rescind all job-destroying Obama executive actions" in the service of the country's energy goals.
But as president-elect, Trump appears to have moderated some of his opinions. In an interview Tuesday, with The New York Times, he refused to repeat his promise to abandon the international climate accord reached in Paris last year and said he would keep an open mind about climate change.
While scrapping carbon-reduction laws could shrink long-term growth opportunities for renewable energy, analysts say that existing policies directly affecting actual renewable energy companies, such as tax credits, do not appear to be under the same pressure.
"Energy was a lower-priority sector for the Trump campaign, and clawback of the tax credits for wind and solar has never been a part of the Trump platform," FBR analyst Benjamin Salisbury wrote in a research note last week. "According to our conversations, renewables are an unlikely target, and a great deal of focus and political capital will be taken up by other agenda items."