Josh Wolfe is best known for his industry-leading expertise in nanotechnology and likewise his focus is often on small, emerging growth companies.

But ironically, one of his core 'buys' is a company that ranks among the biggest of the big: General Electric (NYSE: GE). In his Forbes/Wolfe Emerging Tech Report, he looks at GE and its leading role in "green" technology.

"General Electric disappointed investors when its quarterly earnings recently fell for the first time in 5 years. Profits fell 5.8% to $4.3 billion and revenues rose 8% to $42.2 billion, short of the expected $44 billion.

"Moreover, GE reduced its 2008 annual earnings forecast, citing seizure of credit markets for struggling operations in its consumer and commercial finance divisions.

"'Green' has become transparent at GE. The missing ingredient to BP's green appeal, it seems, was some element of independent accountability. In 2005, when General Electric CEO Jeffery Immelt launched GE's own brand of green initiative, ecomagination, he hired New York consultant firm GreenOrder to keep score.

The Wall Street Journal (subscription required) reports that former Microsoft executive Martin Tobias as chairman and CEO of Imperium Renewables Inc. of Seattle, is leading a strong and seemingly effective push forward into the realm of renewable fuels. Imperium Renewables has just announced that it has closed a $113 million equity financing deal accompanied by a $101 million line of credit. Already, venture capital investment in the alternative energies or "clean tech" sector have nearly crested $3 billion dollars annually. Surely clean tech is a force to reckoned with.

Cleantech Venture Network, a green industries group, estimates that roughly $8 billion has already been invested in alternative energy venture projects, and it claims that absent of deeply deflated petroleum prices the current level of investment should continue.

"The biggest thing is, investors realize they can make money at it and do good at the same time," said Craig Cuddeback, chief operating officer of the Cleantech Group, which runs the venture network.

Investing in alternative energies is timely and becoming more efficient as industry leaders are beginning to organize into more powerful and leveraged groups. There will surly be a winnowing of the wheat from the fields as the questionable performers are weeded out.

As of right now I would recommend seeking out funds in this new growth sector which have broad coverage over a range of technological promise. In my opinion it's still too early to drop big chunks of cash on individual companies doing alternative energy exploration, but it's definitely an area you need to look into. Most investors are still wary of hard-core green investment, remembering the great dot com crash but if you have the nerve and you've been watching the players Cleantech may offer some great ways to catch the wave.

Some may argue that investing is only about making money and scoff at the idea of socially-responsible investing. Others have a primary focus on how their money is used and will invest only in companies that comply with their personal ethics.

The best of both worlds is the chance to invest in companies that support one's ethical or personal beliefs but also happen to be strong investment vehicles; that is, offering the chance to earn good returns while feeling good about doing so.

One potential trend that falls in this category, according to Larry Edelson, editor of The Real Wealth Report, is the developing move towards "green funds" in the natural resource sector that focus on companies that are addressing environmental issues. He says, "I want you to get on board the early stages of this trend. I expect 'green funds' to outperform other funds in the months and years ahead."