Which energy stocks are the best in the world?
The UK stock market was up in after-hours trading after the UK government announced a boost to its own renewable energy target.
It has been boosted from $25bn to $30bn by the announcement of an extra $2bn in funding for the next financial year.
But it has since been knocked back again by the sharp decline in oil prices, which are set to remain in the $50 to $60 range for the rest of the year.
The Dow Jones Industrial Average has gained a record 22% this year, according to the FactSet.
The index is up nearly 4% this month and has now risen to 2,087.6, up from 2,075.9 last year.
Moves are also in store for the energy sector, with wind and solar companies reporting strong growth.
A total of 727 wind power projects were completed in 2017, according the US Department of Energy, making up more than one-third of all renewable energy projects in the US.
Wind and solar power plants have been hit hard by the oil price drop, which has resulted in a drop in the cost of wind energy, which in turn has made solar power more competitive, particularly in the UK.
On Friday, the US Securities and Exchange Commission (SEC) announced the final phase of a rule which would require companies to disclose their earnings for the first half of each year.
It was intended to reduce uncertainty around the future of fossil fuel projects and help the industry to “reinvent itself”.
The SEC said it was concerned that “companies could be more inclined to fund renewable energy investment”.
Investors have reacted by buying more renewable energy stocks, and investors are buying up more wind energy stocks as well.
The S&P 500 index is down 0.3% at 5,856.4, while the Dow is down 2.1%.
The latest jobs figures show that there were 1.9 million jobless people in the United States last month, the lowest level in six months.
On the other hand, the number of Americans working part-time has risen by more than 4 million since November.