The PowerShares WilderHill Clean Energy ETF (PBW) is up 7.4% since the May 24th market low. VentureWire reports that funding for firms working on renewable energy increased to a six-year high of $513 million in the first quarter. That’s a 50% year-over-year gain, and it mirrors enthusiasm seen for energy stocks — and, for that matter, funds.

Motley Fool adds, "Why all the hubbub, you ask? How about new interest in energy efficiency at both the Federal and state levels? As just one example, California’s public utilities commission has agreed to cough up $3 billion to bring more solar power into the electric grid, and the IRS is offering any homeowner up to $2,000 in tax breaks for solar-sourced improvements. Those types of incentives for efficient energy will continue to trickle down into the investment arena, so keep a watch on other companies that serve to benefit from this trend."


The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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