The solar sector has enjoyed a jaw-dropping run-up in the current year. The sector’s sole pure-play solar fund, Invesco Solar Portfolio ETF (TAN), is up 234% over the past 52 weeks, with a good chunk of those returns having come after Joe Biden was declared the winner of the U.S. presidential elections a month-and-half ago.

That incredible momentum is certainly beginning to look like a big bubble in the making, considering that it’s hard to prove how the fundamental value of solar companies has more than tripled in the space of just 12 months. Although solar is mostly considered a growth industry, solar companies have generally recorded a smaller spike in demand as a result of the pandemic compared to work-from-home companies.