New Trends in the Renewable & Alternative Energy Industry Generate Sweeping Changes, 12-20-2006
Today, soaring oil and gas prices have created a renewed interest in all things energy-efficient. Smaller cars, high-efficiency homes and even solar power are once again part of popular culture. Sales of gas-guzzling SUVs have slowed while the demand for fuel efficient vehicles is rising steadily. Alternative energy is also attracting rapidly growing interest from investors. Many high-profile investment firms are offering "socially responsible" investment products, with fund profiles as green as the fat returns ethical investors hope to make. The increase in popularity has given rise to significant changes in the industry as a whole. The most vibrant changes are detailed in a recent report by Plunkett Research, Ltd. Some examples include:
- Governments Encourage Alternative Fuels and Conservation.
Governments at all levels are pushing green initiatives. New York State already produces 19% of its electricity through renewable sources. It wants to increase that number to 25% by 2013. The European Union set a goal for its member countries to double the amount of power generated by renewable sources to 12% by 2010 in accordance with the Kyoto Protocol on climate change.
- Homes and Commercial Buildings Go Green.
In a small but growing trend, many homebuilders across the U.S. are constructing homes in accordance with the National Association of Home Builders' (NAHB) "green" specifications. At the same time, local building codes in many cities, such as Houston, are requiring that greater energy efficiency be incorporated in plans before a building permit can be issued.
- The Industry Takes a New Look at Nuclear Power.
Skyrocketing prices for oil and natural gas in 2004-2006, combined with growing concerns about the environmental dangers of fossil fuel emissions, brought about renewed interest in the potential of nuclear power.
To find out more about these exciting trends and more, check out Plunkett's Renewable, Alternative & Hydrogen Energy Industry Almanac 2007, just released, or go to www.plunkettresearch.com and sign up for a subscription to Plunkett's completely up-to-date online database!
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