Investors are interested in wind power stocks, solar power stocks and other green stocks because they like the idea of making money and helping the environment. But they need a healthy sense of skepticism in order to succeed.

Many stock promotions have an environmental angle. A number of penny stocks have dropped their old, unsuccessful business plans and become a solar power stock, a wind power stock or some other form of green stock.

The stock-promotion business has always worked that way. Promoters take whatever fear or issue concerns people most and use it to generate interest in the stocks they are promoting. Investing in these stocks can pay off temporarily, depending on the promoter’s ability. But most eventually wind up worthless.

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Of course, there is money to be made in businesses that save energy or help the environment. But it’s much easier to announce a change in business direction than it is to succeed in it. Green stocks face a number of unique challenges, and simply adopting a popular business theme won’t guarantee success.

Our first rule of investing is that you should mainly invest in well-established companies that have a history of sales and earnings. Wind power stocks and solar power stocks have added risks compared to other companies. These include objections to the large amount of land needed for mass-power generation, and technical challenges surrounding power demand and variation. So, it is best to invest in green stocks that have other options at hand to offset those risks.

Wind power stocks, solar power stocks and other green stocks are very tempting to environmentally minded investors. The idea of making money while helping the environment is noble, but it shouldn’t distract you from your core financial goals. After all, if you don’t care if you lose the money, you might as well donate it to an environmental charity and get a tax receipt for it.

If you stick to investment fundamentals rather than the promises of the stock promoters, you will likely find yourself an investment that has a strong history, pays dividends and is working to do good and make money at the same time.