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Although fossil fuels are still the standard for energy around the world, companies with green technologies are making inroads in their respective areas. Some technologies like solar panels are already being put in use. Here are four green companies that are actively working towards a more earth-friendly environment:

First Solar (FSLR) is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module collection and recycling, First Solar's renewable energy systems protect and enhance the environment.

With over 5 gigawatts (GW) of modules installed worldwide, First Solar's advanced thin film technology has set the benchmark for sustainable energy solutions. Here are some benefits of First Solar's advanced thin film solar module technology: it outperforms conventional solar modules with equal power rating; proven energy yield advantage over conventional solar modules in hot climates; world-record holder CdTe PV cell (17.3%) and PV module (14.4%) efficiency; manufacturing cost leader at under $.75/watt (Q4 2011); industry's first pre-funded collection and recycling program; and smallest carbon footprint and fastest energy payback time of any PV system.

Analysts are very bullish on the stock with a consensus price target on the stock of over $28 a share, suggesting upside of over 50%.

B Green Innovations (OTCPK:BGNN) is dedicated to becoming a "green" technology company, focused on acquiring and identifying promising technologies that address environmental issues. B Green offers consumers a realistic and necessary solution to the problem of waste around the world.

The first technology was to create new products from recycled tire rubber. EcoPod and VibeAway address important environmental concerns and problems facing the planet today. EcoPod and VibeAway are 100% recycled rubber-based products that can be utilized as support pads under any units that vibrate and make noise, including washing machines, dryers, compressors, commercial condensers, and many other units that advantageously benefit from sound and vibration control.

Recently, the company released its new 100% degradable/biodegradable compactor bags. These oxo-biodegradable plastic products are scientifically proven to be non-toxic and are FDA compliant, meaning they are safe for food packaging applications and have been awarded approved food film contact 'no migration' status. Regular plastic bags can take up to 100 years to break down causing plastic pollution and harm to both domestic and wild life. B Green's product is designed to allow plastics to degrade like a leaf, slowly yielding CO2 (which through photosynthesis becomes oxygen), water, bio-waste, and mineral salts that condition the soil in the process.

A123 Systems (AONE) is a leading developer and manufacturer of advanced lithium-ion batteries and energy storage systems for transportation, electric grid and commercial applications. The company's proprietary Nanophosphate lithium iron phosphate technology is built on novel nanoscale materials initially developed at the Massachusetts Institute of Technology and is designed to deliver high power and energy density, increased safety and extended life.

According to a recent Seeking Alpha article, the company's batteries "will play an increasingly important role in facilitating a shift toward cleaner forms of energy. The family of products, combined with their strategic partner relationships in the transportation, electric grid services and consumer markets, positions AONE to be a leader in the markets for next-generation energy storage solutions." The company has had a string of bad news recently but analysts are still bullish with a consensus price target of over $2.50 a share for potential upside of over 100%.

Tesla Motors' (TSLA) goal is to accelerate the world's transition to electric mobility with a full range of increasingly affordable electric cars. Palo Alto, California-based Tesla designs and manufactures EVs and EV powertrain components. Tesla has delivered more than 2,150 Roadsters, the world's first electric sports car, to customers world-wide. Model S, the first premium sedan to be built from the ground up as an electric vehicle, goes on the market the middle of this year.

The outlook for the stock looks bright as Tesla was recently named a stock worth betting on. Furthermore, the market for electric vehicles appears to be gaining steam in 2012, according to a tally of the most recent round of sales numbers. In Q1, domestic sales of hybrids, plug-in hybrids, and EVs increased 44% Y/Y to 113,457. The pickup in buying activity stands in contrast to an industry mired in a slump last year amid a safety probe on Chevrolet Volts, supply issues, and limited model options.

Source: 4 Green Stocks For Your Wallet And For The Planet

Additional disclosure: I expect to receive compensation for researching B Green Innovations (OTCPK:BGNN). This fact does not impact my thesis. I took on this opportunity because of my strong belief in the company and its assets. The views expressed are purely my own.