Civilizations have been collecting rainwater for decades, but for the United States, it’s relatively rare, but if the notion gathers steam, exchange traded funds (ETFs) wouldn’t be the only thing affected if the technology to do this takes hold.

The first step has been for the state and local governments to join gardeners and the environmental community in searching for at least a little bit of salvation from above, reports The Weather Channel. There could be 100,000 rainwater harvesting devices already working, but that isn’t enough to dent the demand.

Therefore, new rules and incentives have been cropping up. The state of Washington and Portland, OR, have guidelines for rainwater harvesting systems. In Santa Fe, NM, they’re required on all new residential structures larger than 2,500 square feet. In Hawaii, 60,000 people already harvest rainwater, and the U.S. Virgin Islands requires it by law.

Africa, Asia and Australia have been doing it for generations, so isn’t it time the United States takes action?

  • PowerShares Water Resources (PHO), down 6.1% year-to-date
  • PowerShares Global Water (PIO), down 25.2% year-to-date
  • Claymore S&P Global Water Index (CGW), down 17.2% year-to-date

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. 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.