"For those who want to 'go green' there are new opportunities to tap the environmental trend by adding cutting edge, alternative energy ETFs to your portfolio," says Doug Fabian, editor of Successful Investing.

"ETF providers are starting to latch onto the green theme. Two fund families, PowerShares and Market Vectors, have created their own classes of clean energy ETFs. A pair of ETFs has been launched in the narrow but potentially profitable niche of solar energy.

"The Claymore/MAC Global Solar Energy Index ETF (NYSE: TAN) is designed to track 25 companies in the solar power industry. Sectors included in the ETF are equipment producers, companies that concentrate on selling electricity, and suppliers of materials or services, installation, integration or finance. TAN currently invests in companies such as MEMC Electronic Materials, Suntech Power Holdings, and LDK Solar Co. Ltd.

"Van Eck Global launched the Solar Energy ETF (ASE: KWT). That solar energy ETF seeks to replicate the price and yield performance of the Ardour Solar Energy Index, which includes companies that generate at least 66% of their revenues from solar energy. The four top holdings are First Solar, Germany's Q-Cells and Solarworld AG, and Norway's Renewable Energy.

"One catalyst for solar energy stocks and ETFs in future years could be legislative initiatives aimed at spurring the use of clean energy sources and enhanced energy efficiency.

"Solar energy equity holdings could gain upward momentum if surcharges are imposed on companies that produce carbon emissions beyond certain limits.

"Legislation along such lines could be enacted by 2012 to enable U.S.-based companies to meet global emissions standards that may take effect in 2013 when the Kyoto protocol gives way to a new stage in global environmental compliance.

"Exactly when the investment potential of solar energy will be realized is unclear. Since the best prospects for solar energy appear to be further out than the coming months, I am not recommending any of the new ETFs that focus on that industry right now.

"But these ETFs bear watching to see how well their volumes and prices grow. Solar energy, sooner or later, could become such an opportunity -- turning the sun into a big, fiery ball of profits."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.