"Wind power is a source of energy that is renewable, clean, has a low operating cost and is a technology that's been around for over century," says Ian Cooper.

The small-cap stock specialist and editor of the SC Trading Pit explains, "That's why we're adding a position in First Trust ISE Global Wind Energy ETF (NYSE: FAN), which lets you own 52 wind stocks at once."

"The nice thing about this ETF is that many of the holdings are non-US companies, meaning they're not reliant on news of green energy tax credits. But with the rest of the world investing in wind, we're given wider profit exposure. This is a great way to hold 50 up and coming stocks at $30 a pop.

"As oil prices stay high, the wind power and alternative energy themes are becoming increasingly popular, making the latest exchange-traded fund even more enticing.

"Just recently, the much-anticipated First Trust ISE Global Wind Energy ETF was launched. And not only will investors have an opportunity to profit from companies in the wind energy business, they can profit from companies that will soon enter the space.

"Alternatives may not be an important source of electricity, but they are the fastest-growing subsector in the energy space," says energy sector expert Elliott Gue in Personal Finance. Here, he looks at wind power.

"The US Energy Information Administration (EIA) projects that wind power will grow by more than 7%, encouraged by generous government subsidies. Compare that to just 1.5% annualized projected growth in total electricity demand.

"The world's largest wind turbine producer, Vestas Wind Systems (OTC: VWSYF), fell on hard times back in 2005. It priced some of its turbines too aggressively and saw a surge in warranty claims because of defective components.

"But the stock appears back on track. Warranty provisions are down to 5% of revenues. Profit margins surged 4 percentage points year-over-year because of more rational turbine pricing. Vestas' current backlog stands at EUR4.1 billion (US $6.03 billion), up more than 30% year-over-year.