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The tide seems to be turning green, Jim Cramer told viewers of his "Mad Money" TV show Monday, which gave him the perfect opportunity to review how his environmentally friendly stocks in his green portfolio performed over the past year.

To celebrate "Green Week" and Earth Day on Tuesday, Cramer said that it pays to go green. "Green has been pantsing the rest of the market," he said.

The stocks in Cramer's green portfolio are up 76.8% over the past year, compared to a negative 5.5% for the S&P 500. "Every single one of my green stocks outperformed the S&P," he said. "I want to review the stocks to go over what worked and what worked less."

Cramer: I Can't Get Enough 'Beat the Street'

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In his green portfolio are eight names:

Shaw Group

( SGR),

First Solar

(FSLR) - Get Report

,

MEMC Electronic Materials

(WFR)

,

BorgWarner

(BWA) - Get Report

,

Tetra Tech

(TTEK) - Get Report

,

OM Group

(OMG)

, and

Fuel-Tech

(FTEK) - Get Report

and

Foster Wheeler

, which he also owns for his

Action Alerts PLUS portfolio.

Cramer said that green has worked well and will continue to work because of rising oil prices. "We correctly anticipated that oil would be up huge, $125 is still our price target," he said. "It's high oil prices that have driven up everything related to clean energy. This is the trend behind the trend. I don't think it's going away."

First Solar has been the biggest winner, up 367.8% since April 17 of last year. "I have been the strongest backer of this stock out there, and I remain so," he said. "It will be the standard of this country no matter which presidential candidate wins, as it already is the standard in Germany."

This is the most cost effective solar play, Cramer said, as the company doesn't use silicon, which makes it cheaper for First Solar to produce its panels. Cramer said he remains in conviction mode for First Solar. "I think this is to solar what

Intel

(INTC) - Get Report

was to chips," he added.

Foster Wheeler was another of Cramer's winning green picks, up 97% for the year. The company "was and is my favorite infrastructure play," he said, adding that clean coal is their environmental contribution. Cramer said that the stock is trading way off its high, making it a buying opportunity.

Another strong performer was Shaw Group, as "nuclear is the heart and soul of this one," Cramer said. He added that Wall Street doesn't believe in Shaw Group, and that is a mistake.

While they have been winners for Cramer, he recommended jettisoning BorgWarner, which is too tied up in auto production, and MEMC Electronic Materials, which has had a great run due to high silicon pricing but won't last much longer.

Cramer told viewer Todd in California that he still sees a lot of upside potential for First Solar, and later told caller Bart in Michigan that he is not backing away from the stock despite concern over the rising cost in materials used in First Solar's process.

Caller Melissa in Florida asked if President Bush's greenhouse call on April 16 was a catalyst to buy alternative energy companies, but Cramer told her that until a new president is elected there will not be a legitimate policy on greenhouse gases in place.

What to Do With the Losers

Cramer said that three stocks in the green portfolio have dramatically underperformed the rest of the group, and he wanted to look at where they went wrong. First up was Tetra Tech, a water play that gained just 1.6% over the last year.

"I got this one wrong," Cramer acknowledged, but he added that now "it's actually becoming right. Water will be the next global shortage. When it comes to Tetra Tech, they're the largest player in the sector." Cramer said that Tetra Tech will help the military increase its use of renewable energy and reduce water consumption. "It's entering the environmental sweet spot, and I'd be a buyer."

After a big decline, Cramer said it was time to reload on Fuel-Tech, which is up 8.9% since he recommended the stock a year ago. The stock swings wildly up and down because the company under promises and over delivers, Cramer said.

"Coal has been working, but I think this will do especially well if a Democrat gets in the White House," Cramer noted. Fuel-Tech is a clean coal play as it increases efficiency of coal plants. Companies will be searching out pollution control technologies from Fuel-Tech. "It's just a question of execution," Cramer said.

OM Group suffered from a drop in cobalt prices, Cramer said, even though the stock is up 11.3% since last year. Cramer recommended taking a profit after the stock rebounded, as he wouldn't want exposure to the cobalt market.

Caller Matt in Massachusetts said that water is the new oil, and asked about which company Cramer would look at. "Most of the water plays have been a disaster," he said. "I have not liked the pump group." Cramer suggested

ITT Corp.

(ITT) - Get Report

, which has yet to miss earnings.

Cramer told caller Chris in Georgia that he would stay out of China energy companies such as

Suntech Power

(STP)

,

LDK Solar

(LDK)

and

Trina Solar

(TSL)

.

"We are not playing with any of these," Cramer said. "We are staying out of China. We're going to keep out of China until we think that market has finally bottomed, and it hasn't."

Know Your IPO

In this segment, Cramer recommended

Intrepid Potash

, the largest U.S.-based producer of potassium chloride that should come public this week under the ticker IPI.

"I've been recommending this agriculture group for years now, and I think I'll keep recommending it for years," Cramer said, adding that Intrepid Potash is the "next great way to play this theme." Cramer said that the combination of worldwide drought and worldwide famine makes this the theme that just won't quit.

Cramer said he has been behind

Potash

(POT)

,

Mosaic

(MOS) - Get Report

, and

Agrium

(AGU)

since Oct. 2005 because "the returns are so good they're scary."

Intrepid Potash will be the first western pure play on potash, Cramer said, and has lower production costs than Potash. "It's an essential part of the agriculture bull market," he said.

Cramer said that If Potash was a hot stock then, Intrepid Potash could be heading higher, but he would not pay more than $34 a share. "I think that Intrepid goes much higher than that, but if you're trying to snap it up in the after market, you need a ceiling."

He recommended trying to pick up the stock at its offering by going through

Goldman Sachs

(GS) - Get Report

,

Merrill Lynch

( MER), or

Morgan Stanley

(MS) - Get Report

.

"It worked with

Visa

(V) - Get Report

, our last IPO recommendation, we think it'll work again," he said.

Mad Mail

In this segment, Cramer said that the FCC is "pantsing" the Justice Department by delaying an approval of the

XM Satellite Radio

( XMSR) and

Sirius

(SIRI) - Get Report

deal. "This deal must be approved," Cramer said.

Cramer said that he got it wrong with

Google

(GOOG) - Get Report

because of wrong third-party data from

comScore

(SCOR) - Get Report

. "I relied on comScore data, and comScore sent me in the wrong direction. I wasn't skeptical enough. I will not do that again. I will not use that data again."

In response to an email asking what to do with

Coca-Cola

(KO) - Get Report

and

Pepsi

(PEP) - Get Report

, Cramer said to stick with them. "All of the defensive stocks are doing quite poorly. I like to pick up defensive stocks when they're selling," he said.

Image placeholder title

Lightning Round

Cramer was bullish on

Caterpillar

(CAT) - Get Report

,

L3 Communications

(LLL) - Get Report

,

Alliant Techsystems

(ATK)

,

General Dynamics

(GD) - Get Report

,

Northrup Grumman

(NOC) - Get Report

,

Hasbro

(HAS) - Get Report

,

Tele Norte Leste

( TNE),

Frontline

(FRO) - Get Report

,

Hess

(HES) - Get Report

,

Occidental Petroleum

(OXY) - Get Report

,

Conoco Phillips

(COP) - Get Report

,

Vale de Rio Doce

(RIO) - Get Report

,

BHP Billiton

(BHP) - Get Report

,

Freeport McMoRan

(FCX) - Get Report

,

JPMorgan Chase

(JPM) - Get Report

and

Hudson City

(HCBK)

.

Cramer was bearish on

Intuitive Surgical

(ISRG) - Get Report

,

Mattel

(MAT) - Get Report

,

Valero

(VLO) - Get Report

,

Capstead Mortgage

(CMO) - Get Report

, and

Paragon Shipping

(PRGN)

.

Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here

.

For more of Cramer's insights during the Lightning Round, click here

.

At the time of publication, Cramer was long Foster Wheeler, Conoco Phillips and Freeport McMoRan.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.