A software glitch at the American Stock Exchange held up the launch of the newest solar exchange traded fund (ETF) today.

When it does launch, the Market Vectors Solar Energy (KWT) will the Claymore/MAC Global Solar Energy Index (TAN) as the only two pure plays on the fast-growing sector. 

KWT is based on the Ardour Solar Energy Index (SOLRX), which has worldwide exposure to 26 companies that derive at least 66% of their revenues from solar energy. The fund comes with an expense ratio of 0.65%. The fund is most heavily weighted in Germany, with 36.7% of its assets allocated there. China is second, with 24.3% of assets.

TAN has 25 components, with 25% of them based in the United States. The fund also has an expense ratio of 0.65%.

Solar energy accounts for less than 1% of global electricity, so the sector has plenty of room for growth.

Tags: Energy, EWG, Sector ETFs