The need for change is in the air, and exchange traded funds (ETFs) are reflecting this as alternative energy creeps into the consciousness of the mainstream.

Many investors are betting on which alternative energy funds and stocks are going to get pushed around by the swings in oil prices, says Jeff Tjornehoj, a Lipper analyst. The ETF is gaining popularity because it is granular, giving options such as solar, nuclear power, biofuels or wind, in an isolated manner, reports J. Alex Tarquino for The New York Times. Mutual funds have not given these choices to investors yet.

It will be a long time before nay of thees industries actually displace the oil industry, but they could be the next big trend. Many alternative energy companies are small-scale, and the industry is a “fledgling” industry.

Oil prices will have an influence over this industry, as oil that is over $100 a barrel is sure to spark interest more than oil prices perched at $10 per barrel. There are many alternative energy sources to consider and which one will gain the most traction is still up in the air.

Could alternative energy become a driving force toward an economic recovery? Sen. Barack Obama has pledged  to create new jobs, in part, through an investment in alternative energy technologies, reports Michael Mccord for Seacoast Online. If any such plan does come through, perhaps we’ll see the unemployment rate sink lower.

• Claymore/MAC Global Solar Energy (TAN), down 46.9% since April 15 inception (black line)
• PowerShares Global Wind Energy (PWND), down 43.4% since July 8 inception (green line)

Tags: Alternative Energy, Energy, Green ETFs, Obama, Oil, PWND, TAN