The Washington Post brings to light just how big an impact Obama’s pledge will have for renewable energy companies. We’re already seeing high profile interest in funding entrepreneurs in solar, wind and alternative energy; early next year we could see a boom!
President-elect Barack Obama wants the nation to derive 10 percent of its electricity from renewable energy sources by 2012, up from 2 percent today. That comes on top of the global push for green power, making wind and solar power companies a good bet.
It’s been a rocky road for the high flying sector, recently as the credit crunch has reduced investors willingness to capitalize any company, least of all those involved in risky new ventures. But, that hasn’t stopped big names like T. Boone Pickens from investing in wind power and..
The outlook is …sunny for First Solar (FSLR), which makes solar panels. The rapidly growing firm, which has the least expensive manufacturing cost per watt in the industry, has consistently notched up impressive sales and earnings growth. Analysts expect sales, just $48 million in 2005, to reach $1.2 billion this year and nearly $2.1 billion in 2009… 44 percent of (the stock) is owned by the Walton family of Wal-Mart fame.
As January 20th and a new era in American Politics moves closer, alternative energy companies will have a variety of funding choices, from exchange traded funds like First Trust Global Wind Energy to high net worth individuals to mezzanine financiers.
A good place to start looking for that capital might be The Funded.com, an online site for entrepreneurs to research, rate, and review funding sources worldwide. and to assist one another finding good investors. There are of course, a variety of opportunities available right now.
What are you seeing? Is the credit crunch easing for renewable energy companies?
Photo Credit: Davidcheif at Flickr Under Creative Commons License
OPEC has us over a barrel literally. This past year the high cost of gas seriously damaged our economy and society as well. Everything, and I mean everything costs more now as a direct result of high fuel costs. From farming to manufacturing and shipping the costs were all directly passed on to us. Now that gas has come down a tad, have you seen the prices of groceries come down. NO! And, OPEC is planning more cuts in production to get prices back up. I just finished a new book by Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now. http://www.themanhattnaprojectof2009.com. It covers every aspect of our oil consumption ..some interesting things I didn’t realize is that we are using oil worldwide at the rate of 2X faster than new oil is being discovered. Electric cars would cost the equivalent of 60 cents a gallon to charge at home and that electricity could be generated by wind or solar.Check out what they are doing in CA with elec cars http://www.betterplace.com/
People must watch the documentary Who Killed The Electric Car?
http://www.youtube.com/watch?v=nsJAlrYjGz8
GM and the other car makers could have been market leaders right now in clean cars had they not killed the electric car in the nineties. There was consumer demand and the companies didn’t listen.
A confidential memo even revealed that the Automobile Manufacturer’s Association wanted to hire a PR firm to carry out a “grassroots and educational campaign” to repeal California’s Zero Emissions Vehicle Mandate set in 1990. The challenge was “greater consumer acceptance of electric vehicles.” Then came the hummer—and we all know how great that was for the environment.
There will continue to be a reluctance by some to move forward with green initiatives (massive lobbying pressure has been a major force in killing any move away from oil) as there are still trillions of dollars to be made off the oil still in the ground. Do the math, a billion barrels at $50, or at $500 per barrel – we’re talking massive pressure here.
But we’re in the midst of a major paradigm shift, as a critical mass of consumers and business leaders now see the need AND the profit potential of alternative energy. Global warming as been huge in this respect – we’re watching the polar ices caps melt before our eyes – it’s not just theory anymore.
Despite the hesitations many business leaders had about what Obama might do once taking office, I think he’s taken the right steps and made some great cabinet choices that leave myself and many others in great confidence of his direction. Especially, when looking towards supporting the green energy industry and creating green-collar jobs, Obama is definitely on the right track.
Kevin G. Davis
Managing Director | Emerald Endeavors
For the latest in Green Energy & Clean Technology News, visit http://www.EmeraldEndeavors.com