Alternative Energy Attracts Worldwide Attention, 1-15-08
U.S. energy production from renewable sources was about 10% of the total market in 2006, at 7,00,000 billion BTUs out of total production of about 70,000,000 billion BTUs. (In this case, "renewable" includes conventional hydroelectric and geothermal, along with solar, wind and biomass.) This is up from about 7.6% in 1970. Meanwhile, nuclear generation accounts for another 11.5% of total U.S. energy production, or 8,100,000 billion BTUs. Globally, sources for worldwide generation of electricity in 2007 included about 16% hydroelectric; 16% nuclear; and 2% "renewables" including waste, wind, geothermal and solar, in addition to fossil fuels such as coal, gas and oil. Worldwide, there is very rapid growth in wind power. Major technological advances in wind turbines (including much larger blades creating very high output per turbine) and government incentives encouraging investment in wind generation in many nations are fueling very rapid growth in wind turbine installation. In this rapidly growing industry, it is important to keep up with the latest trends affecting that very growth. Some of the most interesting trends, as analyzed by a recent report put out by Plunkett Research, Ltd., include:
1) Governments Encourage Alternative Fuels and Conservation.
Germany has been investing in both wind and solar power. The country is the world's largest producer of wind power, and second in solar only to Japan. In Spain, government incentives are promoting the use of concentrating solar power (CSP). The U.S. federal government is also pushing green initiatives. The Energy Policy Act of 2005 stipulates that oil refiners vastly increase the amount of biofuels added to gasoline and diesel fuel by 2012.
2) Canada's Tar Sands Reach Commercial Production Levels.
The tar sands (also referred to as "oil sands") found in Canada, Venezuela and other locations throughout the world were historically regarded as unrecoverable assets by many members of the energy industry. But through a combination of decades of work, starting in the 1970s, and the sustained rise in oil prices, the process of turning tar sands into crude oil has become a viable business.
3) Homes and Commercial Buildings Go Green.
In an increasingly growing trend, many homebuilders across the U.S. are constructing homes in accordance with the National Association of Home Builders' (NAHB) "green" specifications. These specifications require resource-efficient design, construction and operation, focusing on environmentally friendly materials.
To find out more about these exciting trends and others, check out Plunkett’s Renewable, Alternative and Hydrogen Energy Industry Almanac 2008, or go to www.plunkettresearch.com and sign up for a subscription to Plunkett’s completely up-to-date online database!
About Plunkett Research, Ltd.
Plunkett Research, Ltd. is a leading publisher of complete business research and analysis resources designed to enable professionals in marketing, research and finance to access complete trends analysis, statistics, technology analysis and financial analysis of the world’s most exciting industries. For more information, visit www.plunkettresearch.com, or call 713.932.0000.