Anyone watching or investing in solar energy stocks will notice that most of this group has recovered exceedingly well from the recent correction in the broader market. I still believe very strongly that any speculative equity investor has to have several invested positions in growing companies that belong to the alternative energy investment theme.

You've got pollution control companies, battery manufacturers, windmill manufacturers... but perhaps the single greatest beneficiary within alternative energy remains solar-energy-related companies. This industry, which has been around for a long time, is finally getting its due. It's also getting a lot of capital from investors.

Not surprisingly, most of the growth in solar energy production is occurring in China. With cheaper labor and technical expertise, China's solar energy boom will be around for a long-time to come.

One domestic company that's doing incredibly well on the stock market is First Solar, Inc. (NASDAQ/FSLR). Pull up a chart on this Arizona-based company and you'll find extreme volatility with extreme wealth creation.

I've written about this company in this column many times before. Just last year, the stock was trading below $50.00 a share. Now, it's trading over $250.00 per share and its uptrend looks fairly intact. This company is in the process of creating many new fortunes.

Another China-based company with excellent growth prospects going forward is Yingli Green Energy Holding Company Limited (NYSE/YGE). This stock lost more than half its value in the recent stock market correction, but has since recovered very nicely.

It definitely takes courage to own volatile stocks like these, but they've both proven that they can create a lot of wealth for those stockholders with the fortitude to keep holding through the major price swings. I have no doubt that there will be major price swings ahead for both these stocks.