So what are green investments? Simply, these are companies that put a priority on being environmentally friendly, and that have made a business out of improving the environment.
It's an interesting concept, especially when we consider that phrases like "going green"and "eco-friendly" weren't part of the traditional business vocabulary 10 years ago.
But there's no denying it anymore: People are looking at the world through green-tinted glasses, and companies are no exception.
In a highly competitive marketplace, eco-friendly business practices are now considered a competitive advantage.
All over the world--from America to Europe to Asia--the need for cleaner energy sources is becoming ever more prominent.
Take China, for example.
One of the byproducts of China's rapidly growing economy is the heightened demand for oil.
Aside from the massive pollution problems the country now faces, oil's all-too limited global supply is bound to put a cap on China's growth soon.
Any future growth will have to rely on alternative energy resources.
The Europeans--especially the Germans--have led the way with their wind turbine technology and nuclear energy plants.
And the United States is home to several companies that manufacture solar electric power modules and design solar projects for utilities.
Now, we've witnessed recently that the old energy business--namely oil--is a very profitable industry.
But there are plenty of opportunities available to investors interested in green investing! Here are some of my favorite green investment plays that will lead investors to higher profits.
First Solar (FSLR) designs, manufactures and sells solar electric power modules in the United States and abroad.
It is a leader in the field of solar cell production and continues to expand its capacity and operational efficiency.
Investing in solar stocks can be a bumpy ride for investors given the extremely volatile nature of some of these companies.
But FSLR reported stellar second-quarter results, further supporting its unparalleled reputation of operational excellence.
The company raised its full-year 2008 outlook, which is why I think FSLR is a great play for investors interested in green investing.
ABB (ABB) is a Switzerland-based company that provides power and automation products and systems.
So how is ABB a green investing alternative? Quite simply, this company works towards promoting energy efficiency--lower costs and fewer emissions--and managing environmental impact.
One of the company's most recent achievements was increasing the performance of generator circuit breakers by more than 25% while at the same time reducing the footprint and maintenance requirements of these power plant components.
This is a great green investing play because ABB's market-leading power infrastructure and energy efficiency technologies are in high demand all over the world.
These are just two of the many stocks available to investors looking for green investment plays.
Other companies to consider are manufactures of the energy equipment needed to build, say, wind turbines and power plants.
So you see? The green investing opportunities are endless.
I, too, profited from the relentless rise in crude oil prices.
But now, I've made room in my portfolio for new, greener and cleaner energy companies.