"To say that alternative energies are critical is a severe understatement." asserts Stephen Leeb, who looks at three plays in the sector that earn a spot in his Growth Portfolio.

The editor of The Complete Investor explains, "Readily scalable energy sources such as solar and wind account for under 1%. It's time to get serious."

Three of the stocks he has selected are holdings in his model Growth Portfolio: FPL Group (NYSE: FPL), Exelon (NYSE: EXC), and General Electric (NYSE: GE). Here's a trio of favorites.

"We have focused on those alternative energy stocks with the strongest growth profiles. None is a pie in the sky fantasy; all provide energy in the here and now and have significant and fast-growing revenue streams.

"The fact that their growth should continue to burgeon is one of the most heartening pieces of news on the energy front. We could argue that investing in these stocks not only will be good for your portfolio but is an act of patriotism as well.

"FPL Group, the country's leading wind generator, and Exelon, the leading nuclear generator, are in the portfolio's low-risk section, which we're currently emphasizing. Though their growth rates are among the lowest of the eight, their defensive characteristics are compelling.

"If the U.S. or the world slides into a full-fledged economic downturn, both companies should hold steady because their plain vanilla utility operations are immune to even severe economic declines.

"At the same time, their deregulated operations - FPL's wind and nuclear businesses and the bulk of Exelon's nuclear generation - should experience unfettered growth, resulting in accelerating growth overall.

"In fact, growth for both companies could rise dramatically because over the intermediate term, nuclear energy will likely become an increasingly important alternative to fossil fuels. Exelon, the largest and most skilled nuclear operator, and FPL should both be on the very short list of companies granted licenses for new nuclear plants.

"General Electric shares recently fell sharply on disappointing earnings. The culprits were a shortfall in its financial operations and delays in shipping health care products.

"But growth in the company's energy operations, which encompass a broad array of alternative energies, was well into double digits and should continue to gain speed.

"Thus even if the company's other businesses stagnate, continued gains in its energy operations should boost overall growth into double digits.

"With the stock currently trading at a sharp discount to the market, this AAA-rated company, yielding nearly 4%, is a compelling buy for investors of all stripes."

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