Renewable energy funds are booming

Since the start of the year, the small but growing pool of funds specializing in renewable energy have posted solid returns, in many cases beating the pants off the S&P 500.

The mutual funds include the New Alternatives Fund (Charts) and the Guinness Atkinson Alternative Energy Fund (Charts).

The New Alternatives fund is up nearly 37 percent the last 12 months and 20 percent so far this year. The Guinness Atkinson fund is up 17 percent and 27 percent while the Wilder Hill funds, which launched last fall, are each up about 11 percent this year.

By comparison, the S&P 500 has climbed about 21 percent over the last 12 months and is up about 5 percent this year.

CNN