You might want to look at NALFX as it has been around a lot longer and has been a little more stable. You should not put all your eggs in one basket. However Alt. energy is here to stay and I do believe is going to have a very bright future.
Diversification is key... I moved about 8% of my IRA into this fund... and I plan to keep it in this fund or a similar fund for the next 10+ years. I also put a good bit into EWZ... an ETF for Brazil. Brazil is a major player in ethanol production and I expect that to payoff for the short-term. I don't see ethanol being the ultimate answer to this issue, but it's a start.
Just look at how the big oil and OPEC reacted to the recent investments into ethanol and alternative energy. They acted like they were going to take their ball and go home if we were going to start thinking about something besides fossil fuels. That only validated my investment even more... I think it's important to invest because it helps build the financial attention this industry needs, and if I get to make money in the process... 2 thumbs up.
I currently drive a vehicle that burns E85, although I can hardly ever find it. I plan on getting one of the next plug and play hybrids because the current hybrid MPG data is crap for the most part.
Here's some good reading if you need more motivation...
I bought into NALFX because of their positions in Vestas, Gamesa,(wind) and Solarworld (solar). Just like this fund, NALFX is on fire! With this fund, you don't have worry about paying a load from your initial investment, so for the long term investor, GAAEX makes sense a this price! NALFX will have greater upward momentum, because it has more assets to invest, but as the GA guys in London get more investors from their attractive fund price, current investors of this fund will see NALFX's dramatic price increases soon! Wind, and solar are the future! Europe (Germany and Denmark, especially) will lead the way, and this fund invests so much in Europe, you'd be crazy not to get your feet wet with even a tiny investment right now!