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Nasdaq Clean Edge Green Energy Index (CELS)

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The Nasdaq Clean Edge Green Energy Index (CELS) is a modified market capitalization-weighted index designed to track the performance of companies that are manufacturers, developers, distributors, and/or installers of clean-energy technologies.

An exchange traded fund, QCLN, is based on the Nasdaq Clean Edge Green Energy Index and is sponsored by First Trust Advisors L.P. See index components and learn more about our methodologies, up-to-date performance, and licensed products below.

factsClick above to access the Nasdaq Clean Edge Green Energy Index (CELS) Fact Sheet.

Clean Edge Green Energy Index Components (Last updated September 2021)

TickerName
ALBAlbermarle
ADNAdvent Technologies Holdings, Inc.
ALGMAllegro MicroSystems, Inc.
AMSCAmerican Superconductor
AMRCAmeresco Inc
AYAtlantica Yield
AYIAcuity Brands, Inc.
AEISAdvanced Energy 
ARRYArray Technologies, Inc.
AZREAzure Power Global Limited
BLDPBallard Power Systems
BLNKBlink Charging Co.
BEBloom Energy Corporation
BEPBrookfield Renewable Partners
CSIQCanadian Solar 
CBATCBAK Energy Technology, Inc.
CHPTChargePoint Holdings, Inc.
CWENClearway Energy, Inc.
CREECree, Inc.
DQDAQO New Energy
ENSEnerSys
ENPHEnphase Energy
FSLRFirst Solar, Inc.
FTCIFTC Solar, Inc.
FCELFuelCell Energy, Inc.
GPGreenPower Motor Company Inc.
HASIHannon Armstrong
IEAInfrastructure and Energy Alternatives, Inc.
ITRIItron, Inc.
JKSJinkoSolar 
TickerName
LYTSLSI Industries Inc.
LEVLion Electric Co.
LTHMLivent Corporation
MAXNMaxeon Solar Technologies, Ltd.
MPMP Materials Corp.
NEPNextEra Energy Partners, LP
NIONio Inc.
NIUNiu Technologies
OIIMO2Micro International Limited
ONON Semiconductor
ORAOrmat Technologies, Inc.
PLUGPlug Power, Inc.
POWIPower Integrations
REGIRenewable Energy Group
RMORomeo Power, Inc.
SOLRenesola Ltd.
SHLSShoals Technologies Group, Inc.
SEDGSolarEdge Technologies, Inc.
SQMSQM
STEMStem, Inc.
NOVASunnova Energy International Inc.
SPWRSunPower Corporation
RUNSunrun, Inc.
SUNWSunworks, Inc.
TPICTPI Composites, Inc.
TSLATesla, Inc.
OLEDUniversal Display
VICRVicor Corporation
WKHSWorkhorse Group, Inc.
XPEVXPeng Inc.

constituentsClick above to access an overview of all CELS Index constituents.

Clean Edge Green Energy Index Semi-Annual Changes

As a result of the September 2021 evaluation and/or intraquarterly changes, the following securities were most recently added or removed from the index: 

Additions: Advent Technologies Holdings, Inc. (NASDAQ: ADN), Allegro MicroSystems, Inc. (NASDAQ: ALGM), ChargePoint Holdings, Inc. (NYSE: CHPT), FTC Solar, Inc. (NASDAQ: FTCI), Lion Electric Co. (NYSE: LEV), MP Materials Corp. (NYSE: MP), Romeo Power, Inc. (NYSE: RMO), Shoals Technologies Group, Inc. (NASDAQ: SHLS), Stem, Inc. (NYSE: STEM), and Sunworks, Inc. (NASDAQ: SUNW).

Deletions: Flux Power Holdings, Inc. (NASDAQ: FLUX), Littelfuse, Inc. (NASDAQ: LFUS), and Orion Energy Systems, Inc. (NASDAQ: OESX).

Historical changes are available here.

Clean Edge Green Energy Index Performance

Historical index performance is available here.

Clean Edge Green Energy Index Methodologies

Index Calculation

The Nasdaq Clean Edge Green Energy Index (CELS) began on November 17, 2006, at a Base Value of 250.00. Click here to learn more.

Eligibility Criteria

To be eligible for inclusion in the Index issuers of a security must be classified, according to Clean Edge, as technology manufacturers, developers, distributors, and/or installers in one or more of the following sub-sectors:

  • Advanced Materials (silicon, lithium, bio-based, and/or other materials and processes that enable clean-energy and low-carbon technologies);
  • Energy Intelligence (conservation, efficiency, smart meters, energy management systems, LEDs, smart grid, superconductors, power controls, etc.);
  • Energy Storage & Conversion (advanced batteries, power conversion, electric vehicles, hybrid drivetrains, hydrogen, fuel cells for stationary, portable, and transportation applications, etc.); and
  • Renewable Electricity Generation (solar, wind, geothermal, water power, etc.).

In addition, a security must pass the following screens:

  • be listed on the Nasdaq Stock Market, the New York Stock Exchange, NYSE American, or the CBOE Exchange;
  • have a minimum market capitalization of $150 million;
  • have a minimum average daily trading volume of at least 100-thousand shares;
  • have a minimum closing price of $1.00;
  • the issuer of the security may not have entered into a definitive agreement or other arrangement which would likely result in the security no longer being Index eligible;
  • may not be issued by an issuer currently in bankruptcy proceedings;
  • may not be placed in a trading halt for two or more consecutive weeks;
  • the issuer of the security may not have annual financial statements with an audit opinion that is currently withdrawn;
  • and have a demonstrated ability to capture the potential of the clean-energy sector by receiving a majority (50% or more) of its revenue from clean-energy and low-carbon activities, "or," in the case where a constituent has multiple business units and revenue streams, have substantial exposure to the clean-energy and low-carbon sector, according to Clean Edge.

Classifications are determined by Clean Edge, which has been at the forefront of identifying and classifying the clean-energy and clean-tech sectors for nearly 20 years. The firm’s first report, Clean Tech: Profits & Potential, which defined and highlighted the business and economic case for clean tech and clean energy, was published in April 2001 and Clean Edge co-founder Ron Pernick coauthored one of the first business books on the topic, The Clean Tech Revolution, published by HarperCollins in 2007. In addition to the company’s stock indexing work, Clean Edge has also classified and benchmarked the clean-tech activities of cities, states, and utilities. 

methodologyClick above to access detailed CELS index methodology information.

Financial Products Based on the Clean Edge Green Energy Index

The First Trust Nasdaq Clean Edge Green Energy Index Fund (QCLN) is based on the Nasdaq Clean Edge Green Energy Index (CELS) and is sponsored by First Trust Advisors L.P.

Disclaimer:
The information contained above is provided for informational and educational purposes only. Clean Edge is not an investment adviser, and none of the information, including any Nasdaq Clean Edge index, should be construed as investment advice or relied on as the basis for making any kind of investment decision. Neither Clean Edge nor any of its affiliates makes any recommendation whatsoever to buy or sell any securities, fund, or financial product or any representation about the financial condition of any company, fund, or financial product. Information regarding any Clean Edge index is not a guarantee of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results and should never be relied upon for making any kind of investment decisions. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.