In addition to the PowerShares fund, we’ll take a quick look here at the Guggenheim Solar ETF (NYSE: TAN), Market Vectors Global Alternative Energy ETF (NYSE: GEX), iShares S&P Global Clean Energy Index Fund (NASDAQ: ICLN), and Market Vectors Solar Energy ETF (NYSE: KWT).

PowerShares WilderHill Clean Energy (NYSE: PBW) is a non-diversified index tracker. The largest of its 58 holdings is SunPower Corp. (NASDAQ: SPWRA) at 3%, followed by Tesla Motors Inc. (NASDAQ: TSLA), GT Solar International Inc. (NASDAQ: SOLR), Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM), and Polypore International Inc. (NYSE: PPO). The fund’s market value is $448.7 million, and its 52-week range is $7.98-$11.42. PBW’s NAV is 9.00.

Guggenheim Solar ETF (NYSE: TAN) invests at least 90% of its assets in  stocks included in the MAC Global Solar Energy Index. It’s top five holdings are First Solar Inc. (NASDAQ: FSLR) at 14.38%, Hong-Kong listed GCL Poly Energy Holdings Ltd. at 8.99%, Meyer Burger Technology AG (OTC: MYBUF), Trina Solar Ltd. (NYSE: TSL) at 5.3%, and SunPower Corp. (NASDAQ: SPWRA). Assets under management total $165.2 million and the NAV at June 7th was $7.12. The 52-week range is $6.12-$9.16.

Market Vectors Global Alternative Energy ETF (NYSE: GEX) tracks the price and yield performance of the Ardour Global Index, and invests at least 80% of assets in stocks included in that index. The fund’s top five holdings are First Solar at 8.8%, Vestas at 8.37%, Cree Inc. (NASDAQ: CREE) at 6.21%, Enel Green Power SpA at 6.1%, and Iberdrola Renovables SA at 5.73%. The fund has $140.3 million of assets under management and its NAV is $19.22. The shares’ 52-week range is $17.81-$22.76.

iShares S&P Global Clean Energy Index Fund (NASDAQ: ICLN) tracks the price and yield performance of the S&P Global Clean Energy Index. The top five holdings are Germany’s Verbund AG (OTC: OEZVF) at 5.58%, Iberdrola Renovables at 5.47%, Empresa Nacional de Electricidad S.A. (NYSE: EOC) at 5.46%, China Longyuan at 5.44%, and SunPower at 5.4%. The fund’s net assets total $71.1 million and the NAV is $16.54. The shares’ 52-week range is $14.09-$19.00.

Market Vectors Solar Energy ETF (NYSE: KWT) is an index tracker for solar energy companies. It’s top five holdings are First Solar at 9.54%, MEMC Electronic Materials Inc. (NYSE: WFR) at 8.89%, Trina at 8.54%, SunPower at 6.35%, and Norway’s Renewable Energy Corp. ASA at 6.07%. The fund’s assets under management total just $29 million and its NAV is $10.55. The shares’ 52-week range is $9.04-$14.33.

Many of these funds (and their components) are down considerably and they are down so much against the 2008 peak-energy highs that many investors would rather not be reminded.  24/7 Wall St. has maintained for quite some time that many alternative energy investments may really just be leveraged oil bets in disguise.  These have not even lived up to that universally when oil rose.  Now investors will hope that the decommissioning of nuclear plants can be the next frontier for growth.  If not, global austerity measures may force solar projects to actually be evaluated on their real underlying costs basis just like other projects.

Paul Ausick

Fuel Tech, Inc. (Nasdaq: FTEK) announced receipt of a FUEL CHEM® demonstration order from a new electric utility customer in the Midwestern United States on a large Powder River Basin coal-fired boiler, with chemical feed scheduled to commence later this quarter.  Unfortunately for the company shareholders, shares slid nearly 3% to $24.39 after a miserable day yesterday.

Jim Cramer recently gave a large summary of his stock picks that would win from the move to a greener U.S., although some are far from "green" companies.

Lexington Insurance Company, a member company of American InternationalGroup, Inc. (NYSE:AIG), today announced Upgrade To GreenSM Residential,an insurance coverage allowing U.S. homeowner policyholders to rebuildtheir property to “green” standards following a covered loss.

Syntroleum Corporation (NASDAQ: SYNM) today announced it has retainedDallas-based Halliburton Investor Relations to manage the company’sinvestor relations program.  Akeena Solar, Inc. (NASDAQ:AKNS) shares fell some 24% to $5.50 todayafter posting wider losses, although shares are sill up about 80% off52-week lows.Dassault Systèmes (NASDAQ:DASTY) announced that electric carmanufacturer Tesla Motors has selected CATIA PLM Express as its productdevelopment solution.

US BioEnergy Corp. (NASDAQ:USBE) shares rose 16% to $7.45 today afterit announced net income of $11.1 million, or $0.15 per share, for thequarter ended September 30, 2007; this included a one-time impairmentcharge of $2.5 million.  It is positioned to bring total productioncapacity to 750 million gallons per year (mgy) by the end of 2008.Gross margins improved 50% to $28.8 compared to the second quarter of2007.  During the third quarter of 2007, the company sold 73.2 milliongallons of ethanol at an average selling price of $1.76 per gallon.

T. Boone Pickens’ alternative energy stock Clean Energy Fuels Corp. (NASDAQ:CLNE) saw sharesfall 3.6% today to $17.83 after yesterday’s earnings report. For thethird quarter of 2007, the Company’s combined volume of CNG and LNGdelivered increased to 20.0 million gasoline gallon equivalents(Gallons), compared with 18.2 million Gallons in the same period a yearago.  It will be interesting to know if T. Boone Pickens is still expecting $100/barrel oil.

Despite some massive selling yesterday and a recovery for most ofTuesday, alternative energy stocks are still seeing sellers hit theshares as oil is falling more and more.  Owning alternative energystocks is like having a leveraged trade on a high-beta stock when oilprices are fluctuating wildly as these will benefit from higher oilprices.  That sword cuts both ways.

Yesterday came the announcement that former VP Al Gore had joinedpremiere VC-firm Kleiner Perkins Caulfield & Byers as a partner forgreen investing.  The crowd that refuses to accept the term "globalwarming" or even "climate change" probably laughed hard that this wason the same day that many alternative energy stocks got crushed.

A boutique investment banking and research firm named BroadpointCapital initiated coverage of DayStar Tech (NASDAQ:DSTI), First Solar (NASDAQ:FSLR),and HOKU Scientific (NASDAQ:HOKU) all with Buy ratings today.

The PowerShares WilderHill Clean Energy ETF (AMEX:PBW) rose 4.8% to $23.60and the Market Vectors Global Alternative Energy ETF (NYSE:GEX) rose0.2% to $53.76.

-Jon C. Ogg
November 13, 2007

If you wish to only subscribe to alternative energy news as it pertains to business and to public companies, set your RSS readers to the following link:
http://www.247wallst.com/alternative_energy/index.html

Kleiner Perkins Caufield & Byers and Generation Investment Management have announced a global collaboration to find, fund and accelerate green business, technology and policy solutions with the greatest potential to help solve the current climate crisis. This partnership will provide funding and global business-building expertise to a range of businesses, both public and private, and to entrepreneurs. As a result of the collaboration, the chairman and co-founder of Generation, former Vice President of the United States Al Gore, will join KPCB as a Partner.  KPCB has already committed $200 million to green tech ventures.

This doesn’t mean green tech companies can ramp up indefinitely and without logic, but this is one more piece to the green-tech investing strategies that have generated huge gains in 2007.  These have pulled back some and may pull back further.  In fact, as oil prices fall (and if it continues) then you are likely to see quite a correction in the green-tech sector.  Corrections come and go, but with 2008 being a regime change election year it’s hard not to believe that there won’t be deeper pushes into environmental pledges from both sides of the aisle.

What is so interesting here is the argument between the believers and the doubters of global warming or climate change.  Whether you believe in it or not, it’s actually silly to not recognize a major trend here.  Green technologies (or more eco-friendly operations) are becoming mainstream and represent a major business opportunity here, regardless of politics.

If you wish to see our coverage of select alternative energy news from the financial angle, not the political side, you can set your RSS readers or save to favorites the following link:
http://www.247wallst.com/alternative_energy/index.html

Jim Cramer recently covered some of his favorite stocks he feels will win from these trends, even if these have recently come off highs.  Not all of these are green-tech, but they will benefit from the trends already set in place.

Big green-tech stocks are taking it on the chin….

• PowerShares WilderHill Clean Energy (AMEX:PBW) is down nearly 6% at $22.98, and the Market Vectors Global Alternative Energy ETF (NYSE:GEX) is down 4.5% at $54.40….proof that it is quite widespread selling in the alternative energy sector;
• Fuel-Tech Inc. (NASDAQ:FTEK) is down 11% at $25.50;
• First Solar (NASDAQ:FSLR) is down 12% at $182.00;
• SunPower Corp. (NASDAQ:SPWR) is also down 12% at $113.00.

Here is a sample of our last "The Business Day In Global Warming" where we cover the business and financial side of green investing.

Jon C. Ogg
November 12, 2007