More on How to Bet on Wind Energy

According to the U.S. Department of Energy, up to 20% of the country's energy supply could be generated by wind power by 2030.

Last month, T. Boone Pickens' Mesa Power ordered 667 wind turbines as part of its plans for a giant wind farm in Texas.

Currently (through June 4), the American Wind Energy Association is holding its WINDPOWER 2008 Conference and Exhibition in Houston, Texas.

Do you think you're ready to invest in wind energy? But don't know where to start?

Here is the latest from TheStreet.com on the potential opportunities and risks in wind energy investing.

From Noble Environmental IPO Faces Crosswinds:

Noble Environmental Power's planned IPO brings good news and bad news for investors interested in the alternative energy sector.

The good news is that traders will finally have a pure-play stock in the growing market for wind power.

The bad news is that, because the market is still nascent, investing in the IPO means putting money in a company with no revenue on its income statement to date -- and nearly $1 billion in debt.

The Essex, Conn., wind-energy company is filing for a public offering -- under the ticker NEPI -- only four years after it was founded. It's seeking as much as $375 million in proceeds to finance wind-turbine supply agreements and project developments.

Read the full article.

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From Cramer's 'Mad Money' Recap: Inherit the Wind Stocks:

To help illustrate the many great companies involved in the wind power business, [Jim] Cramer built a windmill from scratch, piece by piece, to show which companies make each component.

First, Cramer featured the wind tower business that makes the support structures for windmills. Here, he reiterated... Otter Tail (OTTR) as [one of] the best stocks to own.

Finally, Cramer said... MasTec (MTZ) [is one of] the best companies for the wind power infrastructure needed to bring power from the mill to the grid.

Read the full article.

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From Cramer's 'Mad Money' Recap: Wade In with Kaydon:

Cramer explained that while Kaydon (KDN) is best known for its industrial bearing business that mainly serves heavy industry as well as the aerospace and defense markets, the company is also the market leader in low-friction wind turbine bearings.

Wind power currently only accounts for 8% of Kaydon's sales, but is 50% of the company's current backlog. According to Cramer, wind power should account for 20% of the company's sales by 2009 and is expected to triple by 2010.

Read the full article.

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Cramer: Wind Stocks Are Towers of Power (Video)

A lack of supply for towers has the wind sector on fire, says Jim Cramer. A pure (but speculative) play: Broadwind Energy (BWEN). Cramer thinks "this can be a gigantic, gigantic company."

Watch the full video below:

Plus, don't miss Cramer: Broadwind's the Weather Vane of Wind Sector (Video).