RENEWABLE
      ENERGY ACQUISITION CORP.

    (a
      Nevada corporation)

    


    WARRANT
      FOR THE PURCHASE OF

    Common
      Stock, $0.001 Par Value Per Share

    


    This
      certifies that, for value received, Crusader Securities, Inc., or registered
      assigns, is entitled to purchase from Renewable Energy Acquisition Corp., a
      Nevada corporation, hereinafter referred to as the “Company,” ________________
shares
      (the “Warrant Shares”) of common stock, par value $0.001, of the Company (the
“Common Stock”) by surrendering this warrant with the purchase form attached
      hereto, duly executed, at the principal office of the Company in Plymouth,
      Minnesota,
      and by
      paying in full and in lawful money of the United States of America by cash
      or
      cashiers’ check, the purchase price of the Warrant Shares as to which this
      warrant is exercised, on all the terms and conditions hereinafter set forth.
      This
      warrant is originally issued to Crusader Securities, Inc., pursuant to the
      exercise of a unit option issued under an underwriting agreement dated
      ______________, 2008 (the “Underwriting Agreement”), pertaining to the Company’s
      offer and sale of 2,000,000 Units (the “Offering”) as described in the Company’s
      registration statement (SEC file No. 333-________) and
      the
      form of the final prospectus (the “Prospectus”) dated the effective date of, and
      included in, said registration statement (or, if applicable, the form of final
      prospectus filed with the Securities and Exchange Commission pursuant to Rule
      424 of the Regulation C adopted under the Securities Act of 1933), is
      hereinafter called the “Prospectus.”

    


    1. The
      purchase price at which the Warrant Shares are purchasable (hereinafter referred
      to as the “Warrant Price”) is $6.25 per share. This warrant will become
      exercisable on the later of (a) the date of completion of a business combination
      with a target business as described in the Prospectus, or (b)
      ____________________, 2009, and will expire at 5:00 p.m., New York City time,
      on
      _______________, 2012, or earlier upon redemption under Section 10, below.
      

    


    2. On
      the
      exercise of all or any portion of this warrant in the manner provided above,
      the
      person exercising the same shall be deemed to have become a holder of record
      of
      Common Stock (or of the other securities or properties to which he or it is
      entitled on such exercise) for all purposes, and certificates for the securities
      so purchased shall be delivered to the purchaser within a reasonable time,
      but
      in no event longer than ten days after the warrants shall have been exercised
      as
      set forth above. If this warrant shall be exercised in respect to only a part
      of
      the Warrant Shares covered hereby, the holder shall be entitled to receive
      a
      similar warrant of like tenor and date covering the number of Warrant Shares
      with respect to which this warrant shall not have been exercised. 

    


    3. This
      warrant is exchangeable, on the surrender hereof by the holder at the office
      of
      the Company, for new warrants of like tenor and date representing in the
      aggregate the right to subscribe for and purchase the number of Warrant Shares
      which may be subscribed for and purchased hereunder.

    


    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    4. The
      Company covenants and agrees that the Warrant Shares which may be issued on
      the
      exercise of the rights represented by this warrant will, on issuance, be fully
      paid and nonassessable, and free from all taxes, liens, and charges with respect
      to the issue thereof. The Company further covenants and agrees that during
      the
      period within which the rights represented by this warrant may be exercised,
      the
      Company will have authorized and reserved a sufficient number of shares of
      Common Stock to provide for the exercise of the rights represented by this
      warrant.

    


    5. The
      Warrant Price and number of Warrant Shares purchasable pursuant to this warrant
      may be subject to adjustment from time to time as follows: 

    


    (a) If
      the
      Company shall take a record of the holders of its Common Stock for the purpose
      of entitling them to receive a dividend in shares, the Warrant Price in effect
      immediately prior to such record date shall be proportionately decreased
and
      the
      number of Warrant Shares purchasable proportionately increased,
      such
      adjustment to become effective immediately after the opening of business on
      the
      day following such record date. 

    


    (b) If
      the
      Company shall subdivide the outstanding shares of Common Stock into a greater
      number of shares, combine the outstanding shares of Common Stock into a smaller
      number of shares, or issue by reclassification any of its shares, the Warrant
      Price in effect and
      the
      number of Units purchasable immediately
      prior thereto shall be adjusted so that the holder of the warrant thereafter
      surrendered for exercise shall be entitled to receive, after the occurrence
      of
      any of the events described, the number of Warrant Shares to which the holder
      would have been entitled had such warrant been exercised immediately prior
      to
      the occurrence of such event. Such adjustment shall become effective immediately
      after the opening of business on the day following the date on which such
      subdivision, combination, or reclassification, as the case may be, becomes
      effective. 

    


    (c)
      If
      any capital reorganization or reclassification of the Company’s Common Stock, or
      consolidation or merger of the Company with another corporation or the sale
      of
      all or substantially all of its assets to another corporation shall be effected
      in such a way that holders of Common Stock shall be entitled to receive stock,
      securities, or assets with respect to or in exchange for Common Stock, then,
      as
      a condition of such reorganization, reclassification, consolidation, merger,
      or
      sale, lawful adequate provisions shall be made whereby the holder of this
      warrant shall thereafter have the right to acquire and receive on exercise
      hereof such shares of stock, securities, or assets as would have been issuable
      or payable (as part of the reorganization, reclassification, consolidation,
      merger, or sale) with respect to or in exchange for such number of outstanding
      shares of the Company’s Common Stock as would have been received on exercise of
      this warrant immediately before such reorganization, reclassification,
      consolidation, merger, or sale. In any such case, appropriate provision shall
      be
      made with respect to the rights and interests of the holder of this warrant
      to
      the end that the provisions hereof shall thereafter be applicable in relation
      to
      any shares of stock, securities, or assets thereafter deliverable on the
      exercise of this warrant. In the event of a merger or consolidation of the
      Company with or into another corporation or the sale of all or substantially
      all
      of its assets as a result of which a number of shares of common stock of the
      surviving or purchasing corporation greater or less than the number of shares
      of
      Common Stock of the Company outstanding immediately prior to such merger,
      consolidation, or purchase are issuable to holders of Common Stock of the
      Company, then the Warrant Price in effect and
      the
      number of Warrant Shares purchasable immediately
      prior to such merger, consolidation, or purchase shall be adjusted in the same
      manner as through there was a subdivision or combination of the outstanding
      shares of Common Stock of the Company. The Company will not effect any such
      consolidation, merger, or sale unless prior to the consummation thereof the
      successor corporation resulting from such consolidation or merger or the
      corporation purchasing such assets shall assume by written instrument mailed
      or
      delivered to the holder hereof at its last address appearing on the books of
      the
      Company, the obligation to deliver to such holder such shares of stock,
      securities, or assets as, in accordance with the foregoing provisions, such
      holder may be entitled to acquire on exercise of this warrant.

    


    
      
         

      

      
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    (d) No
      fraction of a share shall be issued on exercise, but, in lieu thereof, the
      Company, notwithstanding any other provision hereof, may pay therefor in cash
      at
      the fair value of any such fractional share at the time of exercise.


    


    (e) Neither
      the purchase or other acquisition by the Company of any shares of Common Stock
      nor the sale or other disposition by the Company of any shares of Common Stock
      shall affect any adjustment of the Warrant Price or the
      number of Warrant Shares purchasable hereunder, or be
      taken
      into account in computing any subsequent adjustment of the Warrant
      Price
      or
      number of Warrant Shares purchasable hereunder

    


    6. Until
      ________________________, 2009 (one year following the effective date of the
      Offering), this warrant shall not be transferable or assignable except to
      officers of Crusader Securities, Inc., or
      officers of other underwriters or dealers participating in the Offering or
      by
      will, trust, or the laws of descent. Subject to the foregoing restrictions
      and
      the restrictions set forth in paragraph 7 hereof, this warrant is transferable
      at the offices of the Company. On such transfer, every holder hereof agrees
      that
      the Company may deem and treat the registered holder of this warrant as the
      true
      and lawful owner thereof for all purposes, and the Company shall not be affected
      by any notice to the contrary. 

    


    7. This
      warrant and the Warrant Shares have been registered under the Securities Act
      of
      1933, as amended (the “Securities Act”), on Form SB-2 (the “Registration
      Statement”). 

    


    (a) On
      exercise, in part or in whole, of this warrant, the Warrant Shares shall bear
      the following legend: 

    


    THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE SECURITIES
      ACT SOLELY FOR SALE TO THE HOLDER OF A WARRANT TO PURCHASE, WHICH HOLDER MAY
      BE
      DEEMED TO BE AN UNDERWRITER OF SUCH SHARES WITHIN THE PROVISIONS AND FOR THE
      PURPOSES ONLY OF THE SECURITIES ACT. THE ISSUER OF THESE SHARES WILL AGREE
      TO A
      TRANSFER HEREOF ONLY IF (1) AN AMENDED OR SUPPLEMENTED PROSPECTUS SETTING FORTH
      THE TERMS OF THE OFFER HAS BEEN FILED AS PART OF A POST-EFFECTIVE AMENDMENT
      TO
      THE REGISTRATION STATEMENT OR AS PART OF A NEW REGISTRATION STATEMENT, IF THEN
      REQUIRED, AND SUCH POST-EFFECTIVE AMENDMENT OR NEW REGISTRATION STATEMENT HAS
      BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR (2) COUNSEL TO THE ISSUER IS
      SATISFIED THAT NO SUCH POST-EFFECTIVE AMENDMENT OR NEW REGISTRATION STATEMENT
      IS
      REQUIRED. 

    


    
      
         

      

      
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    (b) The
      Company agrees that it shall be satisfied that no post-effective amendment
      or
      new registration is required for the public sale of the Warrant Shares if it
      shall be presented with a letter from the staff of the Securities and Exchange
      Commission (the “Commission”) stating in effect that, based on stated facts
      which the Company shall have no reason to believe are not true in any material
      respect, the staff will not recommend any action to the Commission if such
      shares are offered and sold without delivery of a prospectus and that,
      therefore, no post-effective amendment to the Registration Statement or a new
      registration statement is required to be filed. 

    


    8. The
      Company agrees to register or qualify the Common Stock underlying the warrants
      for resale as follows: 

    


    (a) If,
      at
      any time during the period in which the rights represented by this warrant
      are
      exercisable, the Company shall receive a written request from the holders of
      Warrant Shares issued on exercise of this warrant or holders of the right to
      acquire Warrant Shares covered by this warrant who own or may acquire (on a
      combined basis) at least 50% of the total number of Warrant Shares covered
      by
      this warrant on its original date of issuance that the Company file a
      registration statement, post-effective amendment, or other appropriate form
      under the Securities Act covering resale of the Common Stock, then the Company
      shall within ten days after the receipt thereof, give written notice of such
      request to all holders of warrants and Warrant Shares and shall use its best
      efforts, subject to the limitations of this paragraph, to effect as soon as
      possible the required filing under the Securities Act to permit resale of all
      Common Stock underlying the warrants that the holders request to be registered
      within 90 days of the mailing of the registration notice by the Company to
      the
      holders of warrants and Warrant Shares. If the holders initiating the
      registration request hereunder (the “Initiating Holders”), intend to distribute
      the Common Stock covered by their request by means of an underwriting, they
      shall so advise the Company as part of their request made pursuant to this
      paragraph, and the Company shall include such information in the written
      registration notice to all holders referred to in this paragraph. The
      underwriter shall be selected by the Company and shall be reasonably acceptable
      to a majority in interest of the Initiating Holders. In such event, the right
      of
      any holder to include the Common Stock in such registration shall be conditioned
      upon such holder’s participation in such underwriting and the inclusion of such
      holder’s Common Stock in the underwriting (unless otherwise mutually agreed by a
      majority in interest of the Initiating Holders and such holder), to the extent
      provided herein. All holders proposing to distribute their securities through
      such underwriting shall enter into an underwriting agreement in customary form
      with the underwriter or underwriters selected for such underwriting by the
      Company. Notwithstanding any other provision of this paragraph, if the
      underwriters advise the Initiating Holders in writing that marketing factors
      require a limitation of the number of shares to be underwritten, then the
      Initiating Holders shall so advise all holders of warrants and Warrant Shares
      that would otherwise be underwritten pursuant hereto, and the number of shares
      of Common Stock that may be included in the underwriting shall be prorated
      among
      all holders thereof, including the Initiating Holders. The Company is obligated
      to effect only one such registration pursuant to this paragraph.

     

    
      
         

      

      
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    (b) If,
      at
      any time during the period in which the rights represented by this warrant
      are
      exercisable the Company proposes to file a registration statement or
      notification under the Securities Act for the primary or secondary sale of
      any
      debt or equity security, it will give written notice at least 30 days prior
      to
      the filing of such registration statement or notification to Crusader
      Securities, Inc., and to all other holders of the warrants or the holders of
      the
      Warrant Shares issued on exercise of this warrant of its intention to do so.
      The
      Company agrees that on written notice to it from the holders of the warrants
      or
      Warrant Shares within 20 days after receipt of such notice from the Company
      of
      its or their desire to include the Common Stock underlying the warrants in
      such
      proposed registration statement or notification, the Company shall afford the
      holders of such warrants and/or Warrant Shares the opportunity to have the
      Common Stock included therein. Notwithstanding the provisions of this paragraph
      8(b), the Company shall have the right, at any time after it shall give written
      notice pursuant to this paragraph (irrespective of whether a written request
      for
      inclusion of the Common Stock shall be made) to elect not to file any such
      proposed registration statement or notification or to withdraw the same after
      the filing but prior to the effective date thereof. In no event shall the
      Company be obligated to include the Common Stock in any registration statement
      or notification under this paragraph 8(b) if, in the written opinion of two
      investment banking firms which are member firms of the Financial Industry
      Regulatory Authority, and not affiliated with the Company, the inclusion of
      the
      Common Stock in such registration statement or notification would be materially
      detrimental to the proposed offering of debt or equity securities pursuant
      to
      which the Company gave notice to the holders under this paragraph. 

    


    (c) In
      connection with the filing of a registration statement, notification, or
      post-effective amendment under this section, the Company covenants and agrees:
      

    


    
      
        (i)
          to
          pay
          all expenses of such registration statement, notification, or post-effective
          amendment, including, without limitation, printing charges, legal fees
          and
          disbursements of counsel for the Company, blue sky expenses, accounting
          fees,
          and filing fees, but, not including, legal fees and disbursements of counsel
          to
          the holders and any sales commissions on Common Stock offered and
          sold;

      

    

    


    
      
        (ii)
          to
          take
          all necessary action which may be required in qualifying or registering
          the
          Common Stock included in a registration statement, notification, or
          post-effective amendment for the offer and sale under the securities or
          blue sky
          laws of such states as requested by the holders; provided,
          that
          the Company shall not be obligated to execute or file any general consent
          to
          service of process or to qualify as a foreign corporation to do business
          under
          the laws of any such jurisdiction; and

      

    

    


    
      
         

      

      
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              (iii)

            	
              to
                utilize its best efforts to keep the same effective for a period
                of not
                less than 90 nor more than 120
                days.

            


    

    


    (d) The
      holders of the warrants and Warrant Shares shall cooperate with the Company
      and
      shall furnish such information as the Company may request in connection with
      any
      such registration statement, notification, or post-effective amendment
      hereunder, on which the Company shall be entitled to rely, and such holders
      of
      warrants and Warrant Shares shall indemnify and save harmless the Company (and
      all other persons who may be subject to liability under the Securities Act
      or
      otherwise) from and against any and all claims, actions, suits, liabilities,
      losses, damages, and expenses of every nature and character (including, but
      not
      by way of limitation, all reasonable attorneys’ fees and all amounts paid in
      settlement of any claim, action, or suit) that arise or result directly or
      indirectly from any untrue statement of a material fact furnished by such
      holder(s) in connection with such registration or qualification, or from the
      failure of the holders of the warrants or Warrant Shares to furnish material
      information in connection with the facts required to be included in such
      registration statement, notification, or post-effective amendment necessary
      to
      make the statements therein not misleading, or from any sales or offers of
      the
      Common Stock so registered after 90 days from the effective date of such
      registration statement or notification, all to the same effect as the provisions
      pursuant to which indemnification is provided in the Underwriting Agreement
      between the Company and Crusader Securities, Inc.

    


    9. As
      used
      herein, the term “Common Stock” shall mean and include the Company’s Common
      Stock authorized on the date of the original issue of this warrant, and shall
      also include any capital stock of any class of the Company thereafter authorized
      that shall not be limited to a fixed sum or percentage in respect of the rights
      of the holders thereof to participate in dividends and in the distribution
      of
      assets on the voluntary or involuntary liquidation, dissolution, or winding
      up
      of the Company; provided,
      that
      the Warrant Shares purchasable pursuant to this warrant shall include only
      shares of the class designated in the Company’s articles of incorporation as
      Common Stock on the date of the original issue of this warrant or, in the case
      of any reorganization, reclassification, consolidation, merger, or sale of
      assets of the character referred to in paragraph 5(c) hereof, the stocks,
      securities, or assets provided for in such paragraph.

    


    10. Not
      less
      than all of the outstanding warrant may be redeemed, at the option of the
      Company, at any time after they become exercisable and prior to their
      expiration, at the office of the Company, upon the notice referred to in Section
      10(a), at the price of $0.01 per Warrant Share (“Redemption Price”), provided
      that the last sales price of the Common Stock has been at least $8.50 per share
      on each of twenty (20) trading days within any thirty (30) trading day period
      ending on the third business day prior to the date on which notice of redemption
      is given. 

    


    (a) In
      the
      event the Company shall elect to redeem the warrant, the Company shall fix
      a
      date for the redemption. Notice of redemption shall be mailed by first class
      mail, postage prepaid, by the Company not less than 30 days prior to the date
      fixed for redemption to the holder(s) of the warrant to be redeemed at its
      last
      address as it shall appear on the books of the Company. Any notice mailed in
      the
      manner herein provided shall be conclusively presumed to have been duly given
      whether or not the holder received such notice. 

    


    
      
         

      

      
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    (b) This
      warrant may be exercised in accordance with its terms at any time after notice
      of redemption shall have been given by the Company pursuant to Section 10(a)
      hereof and prior to the time and date fixed for redemption. On and after the
      redemption date, the holder of the warrant shall have no further rights except
      to receive, upon surrender of the warrant, the Redemption Price. 

    


    11. This
      agreement shall be construed under and be governed by the laws of the state
      of
      Nevada. 

    


    12. Any
      notices required or permitted hereunder shall be sufficiently given if delivered
      by hand or sent by registered or certified mail, postage prepaid, addressed
      as
      follows: 

    


    
      	
               

            	If to Crusader Securities,
              Inc.,
              to:	
              Crusader
                Securities, LLC

              
                230
                  Park Avenue, Suite 1000

                New
                  York, NY 10169

                Attn:
                  Blair West, Managing Director

              

               

               

            
	
            	
              If
                to the Company, to:

            	Renewable Energy Acquisition Corp.
              7078
                East Fish Lake Road, Suite 800

              Minneapolis,
                MN 55311

              Attn:
                Craig Laughlin, President

            


    

       

    or
      such
      other address as shall be furnished in writing by any party to the other, and
      any such notice or communication shall be deemed to have been given as of the
      date so delivered or three days after being so deposited in the mails.


    


    DATED
      this _______ day of _________________________________, 2008.

     

    
      	 	 	 
	 	
              RENEWABLE
                ENERGY ACQUISITION CORP.

            
	 
 	 
 	 
 
	
            	By  	 
	 	
              
Craig
              Laughlin, President


    

     

    
      
         

      

      
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    Form
      of
      Purchase

    


    (to
      be
      signed only upon exercise of warrant)

    


    


    TO:
      RENEWABLE ENERGY ACQUISITION CORP.

    


    


    The
      undersigned, the owner of the attached warrant, hereby irrevocable elects to
      exercise the purchase rights represented by the warrant for, and to purchase
      thereunder, _____________ shares of the common stock of Renewable Energy
      Acquisition Corp., and herewith makes payment of ____________ therefor, and
      requests that the certificate(s) for such shares be delivered to
      _______________________________ at ________________________________, and if
      such
      shall not be all of the shares purchasable hereunder, that a new warrant of
      like
      tenor for the balance of the shares purchasable under the attached warrant
      be
      delivered to the undersigned. 

    


    DATED
      this ______ day of ____________________________ 20_____.

     

    
      	 	 	 
	 	
              
Signature


    

     

    
      
         

      

      
        8