“Increased access to clean and reliable energy has become a leading priority for the U.S. Department of Defense and military agencies around the world,” Pike Research stated in the report. “The myriad of military initiatives focused on fostering cleantech is anticipated to have a substantial impact on the development of the industry as a whole. This presents a sizable market opportunity for defense contractors, project developers and systems integrators, and technology developers across all renewable energy sectors.”

The report projects expenditure to surge from $1.8 billion in 2010 to $26.8 billion by 2030.

Solar energy funds include:

  • Guggenheim Solar ETF (NYSEArca: TAN)
  • Market Vectors Solar Energy ETF (NYSEArca: KWT)

Alternative energy funds include:

  • Market Vectors Global Alternative Energy ETF (NYSEArca: GEX)
  • PowerShares Global Clean Energy Portfolio (NYSEArca: PBD)
  • iShares S&P Global Clean Energy Index Fund (NYSEArca: ICLN)

For more information on renewable energy, visit our alternative energy category.

Guggenheim Solar ETF

Max Chen contributed to this article.