Not sure if this is a preact issue or a preact-render-to-string issue, but I’ll put it here for now.
A component I wrote wasn’t being exported properly (long story) and the result was undefined instead of a valid component. I thought it was a React alias issue like I saw in a few other issues, but after digging through my bundle I determined that that was not the case.
Seems to me that either h(undefined) or renderToString( h(undefined) ) should throw an error.