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Even though solar, and especially solar PV, has managed to capture the lion's share of public equity investors' attention over the past three years, wind remains far more competitive with with fossil-fired power generation on a cost basis than solar, and thus presents a fundamentally stronger investment case for the time being (and I emphasize for the time being). What's more, wind as an industry is more mature than solar; for solar, the lack of earnings for many companies and the wildly inflated PEs for others make the sector potentially volatile and risky for investors.

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"Wind power is a source of energy that is renewable, clean, has a low operating cost and is a technology that's been around for over century," says Ian Cooper.

The small-cap stock specialist and editor of the SC Trading Pit explains, "That's why we're adding a position in First Trust ISE Global Wind Energy ETF (NYSE: FAN), which lets you own 52 wind stocks at once."

"Wind power is a source of energy that is a renewable, clean, has a low operating cost and is a technology that's been around for over century," says Ian Cooper.

The small cap specialist and editor of the SC Trading Pit explains, "That's why we're adding a position in First Trust ISE Global Wind Energy ETF (NYSE: FAN)., which lets you own 52 wind stocks at once."

"The nice thing about this ETF is that many of the holdings are non-US companies, meaning they're not reliant on news of green energy tax credits.

In the First Trust ISE Global Wind Energy Index Fund, pure-plays, or companies that provide goods and services only to the wind energy industry will make up two-thirds of the index. Companies getting a portion of their sales from wind will make up the other third. It will include stocks of all sizes including microcaps.

I think the creators of (FAN), a brand new fund that is going to track the ISE Global Wind Energy Index, earned their 0.6% fee. Here’s why: Only 18 of the 52 stocks in the fund are available to North American retail investors without going over the counter, or paying for international data feeds.

That liquidity and accessibility to these truly global investment securities is worth something, to many people. Now I’d say, I wish the fund didn’t have 4, of those 18, which are hardly ‘wind’ investments (General Electric (GE), Siemens (SI), Shell (RDS.A) and BP (BP) are ~5% of fund).