Green energy companies operate in the renewable energy space. Companies that manufacture solar panels, wind turbines, ethanol etc. fall in this category. After rising to astronomical levels in 2007, green energy stocks fell heavily this year. However in the long-run some of these companies will be successful as the demand for green energy products increase when the President-Elect Obama takes office.

In the latest issue of BusinessWeek, an article titled “How to bet on CleanTech” lists four stocks. A brief overview of these stocks:

1.ABB Ltd (ABB) is a Swiss-based “global provider of power and automation technologies to utility and industry customers”. ABB makes “a broad range of products, systems and services for power transmission, distribution and power plant automation.” The current yield 3.43% and the P/E is 7.74. After reaching a low of about $9 in October, it now sells for $13.79 a share.

2. First Solar Inc (FSLR) “designs and manufactures solar modules using a thin film semiconductor technology. Its solar modules employ a thin layer of cadmium telluride semiconductor material to convert sunlight into electricity. It has long-term solar module supply contracts (the Long Term Supply Contracts) with 12 European project developers and system integrators.” This is a high beta stock and the P/E is also high at 41.05. FSLR pays no dividend. Total revenue last year was $1.0B.

3.Spain-based Ibedrola Renovables SA (IBDRY) is the world’s largest wind power company. It “is a multinational company, operating in 20 countries including nine of the ten world markets with the greatest growth and development potential in this sector. The Company, one of the leading firms in stock value of the Ibex-35, has become the fastest growing element of the IBERDROLA Group”. IBDRY trades on the OTC market and pays a dividend of 5.82%.

4.Verenium (VRNM) trades on the Nasdaq. It “Failed to Meet NASDAQ Continued Listing Requirements”. Currently sells for $0.74 a share. This is a highly speculative play.