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.
think you're ready to invest in wind energy? But don't know where to start?
Here is the latest from
on the potential opportunities and risks in wind energy investing.
Noble Environmental Power's
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.
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...
one of the best stocks to own.
Finally, Cramer said...
is one of the best companies for the wind power infrastructure needed to bring power from the mill to the grid.
Cramer explained that while
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.
Cramer: Wind Stocks Are Towers of Power
A lack of supply for towers has the wind sector on fire, says Jim Cramer. A pure (but speculative) play:
. Cramer thinks "this can be a gigantic, gigantic company."
Watch the full video below:
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Cramer: Broadwind's the Weather Vane of Wind Sector
Thomas & Betts
( TNB) another "stealth" wind power stock that investors need to consider.
"Everything that wind touches is getting bigger," said Cramer who noted the management of Thomas & Betts is doing little to promote this small, but growing, portion of their business. Cramer said the company has also been selling unprofitable product lines and concentrating their efforts on its core competencies.
While Thomas & Betts reported lackluster earnings on April 30, Cramer noted the company said most of its sales will be during the latter half of the year. He also said the company's international exposure, which now stands at 40% of sales, is up from just 30% a year ago.
Mesa Power, a company run by well-known energy investor T. Boone Pickens, has ordered nearly 700 wind turbines from
as part of its plans for a giant wind farm in Texas.
The company placed a $2 billion order for 667 turbines for the Pampa Wind Project, which will ultimately provide more than 4,000 megawatts of electricity, or enough for more than 1 million homes.
Sanford Bernstein put out a fabulous report today
May 15 about alternative energy that waxed wonderfully about wind and a little less wonderfully about solar. The latter isn't as loved, because the average selling price of solar is too high vs. the dirty competition, and it needs to cut its average selling price.
Two guys I respect, Warren Buffett and T. Boone Pickens, are both making huge splashes with wind. They are snapping up GE turbines left and right; if you recall, Buffett said he had to call in favors to get turbines, that's how back-ordered they are.
Cramer: Buy Nat Gas Now, Wind in '09
Cramer says we're in an energy boom, with natural gas set to balloon first, followed by alternative energies such as wind and solar.
Watch the full video.
( WGOV) a forward thinker that now estimates its wind power business to be worth $100 million by the end of fiscal 2008, compared to the consensus estimates of only $60 million.
To bolster its wind power business, Woodward recently added its first Chinese turbine manufacturer and is building a new factory in Colorado. He said the company's wind power business is growing at a staggering 150% a year, far more than any "high-tech" company can deliver.
Cramer proclaimed that 2009 will be the year of wind power and recommended
as his favorite wind power stock.
Cramer said that Owens Corning, often thought of as just a supplier of insulation, is transforming itself into a great global manufacturer of alternative energy components. The company now has a glass-fiber composites business that accounts for 33% of its sales.
Cramer said the glass composites business combines glass fibers with other materials to make incredibly strong and flexible substances for wind turbines, among other applications.
Cramer said that the U.S. is facing a shortage of supply of windmills. "Everybody who's involved in making them, it's a win still," Cramer said. He recommended
as plays on his thesis.
Plus, don't miss
Cramer: Trinity Is the Wind Play
Cramer welcomed Dan Batrack, chairman and CEO of alternative energy supplier
, to the show to discuss what he called the company's "breakout quarter."
Batrack said that his company had a very strong quarter, with net income up 30%, revenue up 35% and the company's backlog up 40%. He credited the company's growth to strong demand for wind power.
Batrack believes the U.S. wind power market is growing faster than the consensus forecast of 25% growth. He said his company has booked over $170 million worth of orders for wind products in the past 90 days.
Cramer said viewers should "do some homework on wind power... I want you in a wind stock."
To stay up to date on wind and other industries within the energy sector, visit
This article was written by a staff member of TheStreet.com.