Energy consumption
is a global social issue because at current rates we are exploiting resources
faster than they can replenish themselves. It is important to find a renewable
energy source before we cause irreversible damage to the Earth. Solar power and
wind power are the two leading alternative energy sources. Harris Roen writes
for Seeking Alpha that 2013 will be an exciting year for alternative energy
investors. Investments made in solar and wind power plants are crucial to the
success of the alternative energy companies.
For the past two
years (2011, 2013) solar power has not generated enough profit to make itself
appealing to investors, however Roen claims that 2012 will be considered a turn
around year and that investing in solar power in 2013 would be a wise decision.
Many individual companies (for example the upstream photovoltaic (PV) manufacturers) are facing
economic hardships and will be driven into bankruptcy or forced to merge. This
may not sound good but it will leave room for companies that survive to grow
stronger. As the solar power industry gains strength following a rocky start,
the wind power industry continues to gain momentum as one of the fastest
growing options for clean energy.
The projected growth of
installed wind power in the EU, North America and China (the three largest
markets for wind energy) is expected to triple in just ten years and grow by
eight times from current production levels in the next twenty years. The U.S.
Department of Energy stated that in areas with less than 100 feet of water the
offshore winds could generate enough energy to reach the capacity of the U.S.
electric system.
Global power needs are
expected to increase by fifty percent in the next 25 years, which will in turn
increase the market for energy efficiency companies. Stock in energy efficiency
companies have done well in the past three months and show a promising future.
By taking advantage of these clean energy sources we can rely less on
non-renewable sources while creating a thriving new market.
Caroline Schenck
February 1, 2013. 10:40 a.m.
Source:
Harris Roen, Seeking Alpha.com (web) January 27, 2013
Accessed February 1, 2013
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