President-elect Barack Obama has made no bones about wanting to jump-start the renewable energy markets – pledging $150 billion for the development of biofuels, solar and wind power, other alternative energy sources during his first term.

Costs for solar thermal energy will be cheaper than coal as soon as 2020, according to a report from the US Department of Energy, making one solar ETF a great way to profit.

Google, Chevron and Goldman are all betting that this prediction is correct. This from Bloomberg:

Unlike photovoltaic solar panels that convert sunlight to electricity, solar thermal focuses sunrays with mirrors to heat oil in glass pipes to about 700 degrees Fahrenheit (370 degrees Celsius).

Solar stocks rose yesterday as crude oil prices hovered around $122 a barrel. According to Forbes, however, gains in solar stocks were more psychological than operational.

Even though oil accounts for 2% of electricity production in this country–a negligible amount–the high-flying solar sector rallied on the back of black-gold’s gains.