January 15th, 2009
Economic problems forestalling alternative energy growth?
The folks at EER are tracking the effects of the economic dyspepsia on alternative energy projects around the globe. Their conclusion: some slowdown in 2009, but numerous projects are moving forward outside the U.S. Here the industry awaits details on a federal stimulus plan if it’s enacted. EER finds “Controlling carbon emissions is now a critical determinant in power generation build-out, along with fuel supplies, fuel price volatility, and security. Investments are shifting from traditional coal combustion and CCGT to renewables, IGCC, carbon capture, and perhaps next gen nuclear.”
If the U.S. joins Europe by passing carbon caps and carbon permit trading, the economic attractions of alternative energy production will increase. EER concludes:
“While wind recalibrates to damaged financial markets, and solar scales onwards from a small base backed by robust financial incentives, other renewables are positioned for growth, as supportive policies broaden to new markets. International utilities with renewables strategies will continue to broaden their technology involvement from wind and solar to ocean, biomass co-firing and geothermal….”
The coal industry is not hiding from the future, according to EER. They find “the competition to lead carbon capture and sequestration (CCS) forward and keep coal as part of future generation build out is intensifying. As detailed in our new upcoming market study, more than 110 CCS projects are in the development pipeline.”
ALTERNATIVE ACTION
In Australia plants are being built to develop a new generation of geothermal power production. In Scotland a Spanish power company is expanding its efforts to commercialize wave energy. Even France–long the bastion of a nuclear-powered utility base–is now pushing for more renewable power sources. In short, the wealthier nations do not expect long-twerm energy demand to lessen and with rrecent reminders like the Russia/Ukraine natural gas fiasco, much of Europe and other developed nations are pushing ahead with various alternative energy developments.
Loading ...
A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
Subscribe to GreenTech Pastures via Email alerts or RSS.
