22 January 2008
Clean Tech: A Mighty Wind Grows 45 Percent in '07
I realized today that I've been giving a lot of space to solar on this blog -- okay, I confess, my obsession with First Solar has been getting out of hand, especially in the first month of 2008! But as long as it holds above my initial position, I'll try to ignore those additional shares I bought before the tumble.
Then it came to my attention (thanks to Triple Pundit) that the American Wind Energy Association (AWEA) last week reported record growth in wind power generation with 5,244 megawatts of capacity installed in 2007 – a 45 percent increase reflecting US$9 billion in investment and 30 percent of all new power generating capacity in 2007.
But not so fast. The same report notes that 2008 "will likely show growing pains as there is a current shortage of wind turbines, a situation that the AWEA sees as a big opportunity for manufacturers and entrepreneurs wishing to get in on a growing market. There’s always a better mouse trap – wind energy technology is ripe for imaginative innovators to not only fill the current need for parts, but to continually make those parts better."
TP adds: "It is also time for government to step up to the plate and push forward in support of alternative energy in a big way. Congress is debating this week the future of alternative energy tax credits set to expire this year with no current provision for renewal.
"While the Energy Independence and Security Act of 2007 recently signed in Congress does provide $2 billion dollars in research for alternative energy, it still pales in comparison to subsidies given the fossil fuel industry.
"Farmers also have a great opportunity to capitalize on wind power generation, 'growing' energy from wind and leaving their corn for food instead of ethanol. After all, not all alternative energy is created equal."
Okay, I feel better now. It's not all solar and I'll try to give equal time to the other alternatives. (Thanks, TP)
Pass the sunscreen someone...anyone.