Isramart news : GE's Green Goals

General Electric is counting on companies to start cleaning up their acts as governments firm up legislation aimed at reducing carbon footprints. GE Energy, the company's division devoted to creating economical energy-saving solutions, aims to be early in the game and well-positioned to capitalize as alternative energy technologies take off.

While the global economic downturn drastically limited companies' ability to invest in renewable energy projects, investors in the sector remain optimistic about the sector's long-term prospects. Short-term prospects aren't looking so bad either, since oil surged past the $70 a barrel mark on Wednesday. Expensive oil brightens clean energy's prospects since it makes conservation and alternative fuels more appealing to businesses looking to keep costs down.

In fact, as oil prices rose, so did clean energy exchange-traded funds. The Wilderhill Clean Energy Portfolio ( PBW - news - people ) ETF and the Wilderhill Progressive Energy Portfolio ( PUW - news - people ) ETF gained 30.5% and 32%, respectively, since the end of 2008. The PowerShares DB Oil Fund ( DBO - news - people ) and the United States Oil Fund ( USO - news - people ), meanwhile, have gained 36.6% and 19.9%, respectively.

Presenting at Deutsche Bank's Alternative Energy conference in Washington, D.C. on Thursday, Eric Butterfield of General Electric ( GE - news - people ) Global Research said the company expects revenue from clean technology to climb to $20 billion this year and to $25 billion in 2010, compared with last year's revenue of $17 billion. Research and development spending is also expected to grow, to $1.5 billion from $1.2 billion, since the company expects increased government and partnership support for R&D as businesses are required to restrict and/or offset carbon emissions.

Deutsche Bank analyst Nigel Coe said integrated gasification combined cycle, or the process of turning coal into gas, will be a significant clean coal technology in the near-term. A plant using the technology that GE developed under a partnership with Duke Energy begins running in 2010 and the company is looking to partner with BP and Schlumberger to pursue carbon dioxide capture solutions.

In wind energy, Coe said GE has moved beyond its focus on reliability to concentrate on capacity and logistics. In solar power, the company continues to focus on thin film technologies. On Thursday, the Claymore/MAC Global Solar Index ( TAN - news - people ) ETF added 3 cents, or 0.3% at $11.49 and the PowerShares Global Wind Energy Portfolio ( PWND - news - people ) ETF gained 51 cents, or 3.3% at $16.25.