Renewable Energy Industry Continues to Move Forward

Renewable energy is a topic that has been receiving a great deal of attention lately. In fact, as a result of all of the attention the current administration has given to renewable energy, numerous employment opportunities are sure to be available within the industry for many years to come. Still, many leaders within the renewable energy sector feel that the government still needs to do much more if it hopes to see any real growth within the field.

“The real battle for what our energy future is going to be is Washington,” said Tom Carnahan, who is the founder and president of Wind Capital Group, in a New York Times article.

Although world leaders will soon be getting together in Copenhagen in order to discuss measures for reducing greenhouse gas emissions and combating global warming, companies within the renewable energy industry say these efforts won’t matter unless governments are willing to provide incentives for developing these new technologies.

In the United States, wind power has emerged as the fastest growing form of renewable energy. This is largely due to federal tax credits as well as state policies requiring certain percentages of energy to be created from renewable sources. Solar power has also seen an increase lately throughout the United States. Still, wind, solar and other forms of renewable energy are still only responsible for providing about 3% of energy throughout the country.

According to company executives, governments can help encourage the production of renewable energy by offering subsidies and other incentives. After all, creating renewable energy is quite costly, particularly when it comes to adding it to the grid. Furthermore, renewable energy needs to be managed carefully since the supplies provided by sources such as wind and the sun can vary significantly.

Of course, President Obama’s stimulus package has helped give the renewable energy industry a bit of a boost. Considering the state of the economy, these industries can certainly use the help – particularly since the tight credit markets have made it difficult for companies to obtain funding for projects. Thanks to the grants that have been handed out by the Treasury and the Department of Energy, wind farm developers have been able to expand their operations. Nonetheless, renewable energy developers are still looking for additional support in the form of a “renewable electricity standard” that will require a certain percentage of the country’s electricity to be developed from renewable sources.

Regardless of what takes place at the meeting in Copenhagen, however, most experts agree that businesses within the renewable energy industry will continue to move forward. In fact, most agree that it is unlikely that they will slow down, even if the leaders at Copenhagen fail to reach some sort of agreement.

No Comments

Write comment - RSS Comments

Write comment

Search by State