John Wasik of the Boston Globe seems to think so. The financial columnist admits global warming is a problem, but cautions against putting too many eggs in the solar power basket. He uses our experience with ethanol as an example. Remember when corn-based ethanol was supposed to solve all of our energy woes? Many ethanol-producing firms have seen their stocks plummet, especially after ethanol was accused of contributing to the global food crisis. Wasik also states that major alternative energy innovations could come from companies outside of the "alternative energy" sector of the market.

Wasik advises caution and maintaining a diverse portfolio:

In that spirit, the best way to address climate change is the Vanguard Total World Stock Market ETF, which samples major global exchanges, or the iShares MSCI Emerging Markets Index ETF, which invests in developing economies. Few people crow about owning such index funds, which have about as much glamour as drywall. Yet when it comes to global-climate concerns, they may be the best way of investing in the widest possible array of companies without making guesses on which technologies will be profitable.