<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000355767
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 NEW ALTERNATIVES FUND INC
001 B000000 811-3287
001 C000000 5164237373
002 A000000 150 BROADHOLLOW ROAD
002 B000000 MELVILLE
002 C000000 NY
002 D010000 11743
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 ACCRUED EQUITIES INC
008 B000001 A
008 C000001 801-15504
008 D010001 MELVILLE
008 D020001 NY
008 D030001 11747
011 A000001 ACCRUED EQUITIES INC
011 B000001 8-17356
011 C010001 MELVILLE
011 C020001 NY
011 C030001 11747
012 A000001 FUND PLAN SERVICES
012 B000001 84-932
012 C010001 KING OF PRUSSIA
012 C020001 PA
012 C030001 19406
012 C040001 9993
013 A000001 KENNETH KATZ
013 B010001 ROCKVILLE CENTRE
<PAGE> PAGE 2
013 B020001 NY
013 B030001 11570
015 A000001 UNITED MISSOURI BANK
015 B000001 C
015 C010001 KANSAS CITY
015 C020001 MO
015 C030001 64141
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 SMITH BARNEY
020 B000001 13 2518466
020 C000001 43
020 A000002 GRUNTAL
020 B000002 13 3187504
020 C000002 7
020 A000003 FIRST ANALYSIS
020 B000003 36 3158137
020 C000003 21
020 A000004 OPPENHEIMER & CO
020 B000004 13 2798343
020 C000004 2
020 A000005 MORGAN STANLEY
020 B000005 13 2655998
020 C000005 0
020 A000006 PAINE WEBBER
020 B000006 13 2638166
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 73
022 A000001 UNITED MISSOURI BANK
022 B000001 43 6295832
022 C000001 13131
022 D000001 299
022 A000002 FIRST ANALYSIS
022 B000002 36 3158137
022 C000002 224
022 D000002 578
022 A000003 KMS FINANCIAL SERVICES
022 B000003 94 1737782
022 C000003 0
022 D000003 0
022 A000004 OPPENHEIMER & CO
022 B000004 13 2798343
022 C000004 533
022 D000004 510
022 A000005 SMITH BARNEY
<PAGE> PAGE 3
022 B000005 13 2518466
022 C000005 1794
022 D000005 243
022 A000006 SPEAR LEADS
022 B000006 13 5515160
022 C000006 13434
022 D000006 600
022 A000007 CLARK GX & CO
022 B000007 13 2969143
022 C000007 3679
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 32795
023 D000000 2230
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 120
028 A020000 0
028 A030000 0
028 A040000 460
028 B010000 138
028 B020000 0
028 B030000 0
028 B040000 136
028 C010000 117
028 C020000 0
028 C030000 0
028 C040000 296
028 D010000 207
<PAGE> PAGE 4
028 D020000 0
028 D030000 0
028 D040000 289
028 E010000 209
028 E020000 0
028 E030000 0
028 E040000 257
028 F010000 263
028 F020000 2206
028 F030000 0
028 F040000 186
028 G010000 1054
028 G020000 2207
028 G030000 0
028 G040000 1624
028 H000000 969
029 000000 Y
030 A000000 92
030 B000000 4.75
030 C000000 2.91
031 A000000 51
031 B000000 0
032 000000 41
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
040 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 10000
048 A020000 1.000
048 B010000 20000
048 B020000 0.750
048 C010000 70000
048 C020000 0.500
048 D010000 0
<PAGE> PAGE 5
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 100000
048 K020000 0.450
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 Y
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 2000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
<PAGE> PAGE 6
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 D000000 Y
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 N
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
<PAGE> PAGE 7
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 18509
071 B000000 17585
071 C000000 32598
071 D000000 54
072 A000000 12
072 B000000 187
072 C000000 524
072 D000000 0
072 E000000 0
072 F000000 283
072 G000000 0
072 H000000 0
072 I000000 42
072 J000000 20
072 K000000 0
072 L000000 13
072 M000000 3
072 N000000 11
072 O000000 0
072 P000000 0
072 Q000000 29
072 R000000 4
072 S000000 0
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 17
072 X000000 422
072 Y000000 0
072 Z000000 289
072AA000000 2179
072BB000000 0
072CC010000 1408
072CC020000 0
072DD010000 289
072DD020000 0
072EE000000 2179
073 A010000 0.2595
073 A020000 0.0000
073 B000000 1.9608
073 C000000 0.0000
074 A000000 573
074 B000000 0
074 C000000 3793
074 D000000 0
074 E000000 0
074 F000000 33750
<PAGE> PAGE 8
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 140
074 M000000 0
074 N000000 38256
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 315
074 S000000 0
074 T000000 37941
074 U010000 1183
074 U020000 0
074 V010000 32.07
074 V020000 0.00
074 W000000 0.0000
074 X000000 2566
074 Y000000 0
075 A000000 0
075 B000000 36482
076 000000 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A000000 NATIONAL UNION FIRE INSURANCE CO OF PITTSBURG
080 C000000 350
081 A000000 Y
081 B000000 1
082 A000000 Y
082 B000000 5
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
<PAGE> PAGE 9
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE DAVID J SCHOENWALD
TITLE PRESIDENT
INDEPENDENT AUDITOR'S REPORT
TO: The Shareholders and Directors
of New Alternatives Fund Inc.
I have audited the 1997 financial statements of New
Alternatives Fund (The Fund) and have issued my report thereon
dated January 31, 1998. As part of my audit, I made a study
and evaluation of the Fund's system of internal accounting
control to the extent I considered necessary to evaluate the
system as required by generally accepted auditing standards.
The purpose of my study and evaluation were to determine the
nature, timing and extent of the auditing procedures necessary
for expressing an opinion on the Fund's financial statements,
and to provide a basis for reporting material weaknesses in
internal accounting control under the instructions for form
NSAR. My study and evaluation was more limited than would be
necessary to express an opinion on the system of internal
accounting control taken as a whole.
The management of the Fund is responsible for establishing and
maintaining a system of internal accounting control. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of control procedures. The objectives of a
system are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions
are executed in accordance with management's authorization and
recorded properly to permit the preparation of financial
statements in accordance with generally accepted accounting
principles.
Because of inherent limitations in any system of internal
accounting control, errors or irregularities nevertheless may
occur and not be detected. Also, projection of any evaluation
of the system to future periods is subject to the risk that
procedures may become inadequate because of changes in
conditions or that the degree of compliance with the
procedures may deteriorate.
For the purposes of this letter, material weakness is a
condition in which the specific control procedures, or the
degree of compliance with them, do not reduce to a relatively
low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements
being audited may occur and not be detected within a timely
period by employees in the normal course of performing their
assigned functions. These criteria may be broader than those
that may be appropriate for evaluating weaknesses in
accounting control for management or other purposes.
My study and evaluation made for the limited purposes
described in the first paragraph would not necessarily
disclose all material weaknesses in the system. Accordingly
I do not express an opinion on the system of internal
accounting control of the Fund taken as a whole. However, my
study and evaluation disclosed no condition that I believed to
be a material weakness.
This report is intended solely for use of the management and
for filing with the Securities Exchange Commission and should
not be used for any other purpose.
Kenneth D Katz CPA
January 21, 1998
