"Both presidential candidates are voicing their support for wind power," says growth stock expert Toby Smith. In his top-notch ChangeWave Investing, he looks at an ETF for the sector.
"Giant turbines are appearing in the broadcast advertisements of the two campaigns more than any other image besides the candidates themselves.
"Even Mayor Bloomberg of New York jumped into the act by presenting images of turbines on bridges and buildings.
"In any case, the momentum in the wind sector -- like the solar power sector -- is real. Echoing the results of our December 2007 survey, solar is the sector experiencing the most rapid growth.
"However, wind has surged since the last survey and shows the most momentum going forward and our research findings compel us to move more aggressively in the direction of the currents.
"On that basis, an effective way to participate in the growth of the global wind industry is with the recently launched exchange-traded fund -- the First Trust ISE Global Wind Energy Fund (NYSE: FAN).
"Reflecting the global flavor of the wind industry, U.S. companies represent just 17% of the holdings, followed by wind powers Germany (16%), Spain (15%) and Denmark (11%).
"The top four companies in FAN are Hansen Transmissions (8.2%), a maker of gearboxes and drivetrains; Vestas Wind Systems (8.2%) and Gamesa (7.4%), two wind power giants; and REpower Systems (6.7%), a developer of wind turbines.
"World capacity of wind power is growing at 30% annually and will exceed 100 gigawatts (GW) this year. In the U.S., wind currently provides only about 1% of our electricity, but by 2020, that figure could rise to 15%, since wind power is already competitive with natural gas generated electricity.
"Our findings are indisputably clear that wind has substantial momentum and, along with solar, will be an important force in the energy mix of the United States and worldwide. We recommend that you put the wind in your sails and add FAN to your holdings."
