Investing in smart grid technology

Jim Cramer sees green in the smart grid

On Tuesday, Jim Cramer claimed that smart grid technology offers both consumers and utilities a way to save money. Sounds like a perfect green investment.

In the past, Cramer has liked Itron, which has performed very well since Cramer brought this stock up in October. While he still likes the stock, he didn't suggest buying at today's levels.

Today, Cramer also likes Cooper Industries (CBE) as a way to play smart grid technology. This will be a good recovery stock and it already derives 21 % of its revenues from utilities.

On the speculative side, Cramer also likes Televent GIT (TLVT), which is very similar to Itron.

More SmartGrid consolidation

Sigma buys Z-Wave

Surprise. Surprise. There has been more consolidation in the smart grid segment, as Sigma Designs is seeking to buy Zensys.

According to Greentech, "Zensys is the primary driver behind Z-Wave, a wireless, energy-efficient protocol that allows lights, appliances, security cameras, thermostats and other devices to talk to each other. Z-Wave is a single chip solution and is cheaper than competing technologies like ZigBee and WiFi, say advocates."