The clean technology wave just got a little bigger. This tends to be a side-effect of interest from billionaire investor George Soros. And, as usual, it's more than just money; it's more than just a return. Soros, yet again, is trying to save the world. Interestingly, the bold move was announced at a meeting on climate change sponsored by Project Syndicate – an international association consisting of 430 newspapers from 150 countries (and thus with clear ties to the past, rather than future).

The investor and founder of Soros Fund Management LLC is planning to put $1 billion into clean-tech opportunities using what he calls "rather stringent criteria," which involves being "profitable but should also actually make a contribution to solving the problem [i.e., of clean technology adoption and proliferation]." Soros didn't provide any other details on the nature or scope of his investments.

We're tired of bubbles, right? Anyone 30 or older has lived through two big ones so far, with a brief period of prosperity separating the decimation of dot-com largesse and mortgage-fueled paper wealth. It could take until 2014 for the jobs lost to be replenished, and there's little reason for optimism.

So, with the economy in the tank, we can focus elsewhere -- maybe on saving the planet. If we can't put green in our wallets, maybe we can add some to our lifestyles. Or, you could do both. Green technology could be the next boom in the United States, even if we do lag some parts of the world, and investing in clean solutions is really nothing other than investing in the next big thing. Even if you don't give a damn about climate change (or don't think it exists at all), the green market could likely become your employer -- or trigger the economic growth that will create your next job.

Some signs are visible already.

MOST NOTEWORTHY: Oracle Corp (ORCL), Helicos BioSciences (HLCS), Clean Energy Fuels (CLNE) and China Sunergy (CSUN) topped today's noteworthy initiations:

• Benchmark started Oracle Corp (NASDAQ: ORCL) with a Hold rating.

• JP Morgan initiated Helicos BioSciences (NASDAQ: HLCS) with a Neutral rating based on the potential of its single-molecule genetic sequencing platform but noted that commercialization carries near-term risk.

• Hambrecht believes Clean Energy Fuels' (NASDAQ: CLNE) total addressable market is over $20B given the company's focus on natural gas vehicle fuel for return-to-base applications and started shares with a Buy rating.

• Jefferies wants to see China Sunergy (NASDAQ: CSUN) demonstrate that its silicon wafer suppliers can meet aggressive ramping plans before becoming more positive on the stock, starting shares off with a Hold rating...

OTHER INITIATIONS:

• Lehman started Greenlight Capital Re (NASDAQ: GLRE) with an Equal Weight rating.

• Cellcom Israel (NYSE: CEL) and Partner Communications (NYSE: PTNR) were initiated with Buy ratings at Citigroup.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).