Business hunches are catching on the unfolding attraction of profits offered by alternative energy investments. Their clue comes from highly informed analysis showing that "green" energy production is all systems go to become a multi-billion business by 2013.
The alternative energy frontier has recently expanded its vast horizons. The newly crafted wind turbine technologies, for example, have given us fresh glimpses of how cost-effective wind-powered energy can become. They are gaining support due largely to their superior long-term viability in comparison with what traditional energy technologies offer. With initial successes, industry players are expected to jump on the bandwagon, further fueling possibilities of increased investments in wind technology research and production.
Another example is photovoltaic or solar cell alternative energy technology. This technology has long been in use to energize pocket calculators, personal asset lights, US Coast Guard buoys and other related implements. Now its uses have been increasing, like gracing housing roofs, commercial and other industrial complexes. While the cost of the technology continues to drop, its efficiency ratio continues to rise. The efficiency ratio of energy conversion using silicon cells has risen from only 4 per cent in 1982 to more than 20 per cent in recent years with application of the latest technologies. Moreover, photovoltaic cells do not emit pollutants because they merely produce electrical power. The downside of PV cells is that they are currently not as cost-efficient when compared to the commercial electric-generating facilities. Their production capability at a scale remains constrained due to their space requirements. But with increasing availability of areas where PV cells can be placed in adequate number, the PV technology has become an attractive business proposition.
Alternative energy investment experts also believe that alternative sources of energy from tidal currents or movements as well as temperature differentials offer new and huge business potentials. France continues to lead in developing hydro power technology research and production. The United States and Scotland, among other countries, are also deep in their own researches on hydro power generation. There had been initial difficulties in this field, owing in part to the decline of salt water metals, proliferation of barnacles and turbulent storms, among other things, which impeded stable energy generation. But current breakthroughs have addressed these concerns such as by using alternative and better industrial materials. It also helps that people are having a better understanding on ocean currents and ocean waves. Many things are working for ocean-powered energy, not the least of which being its reliability and renewability.
Elsewhere, investments in hydro-electric technology have increased in the last 20 years. Hydro-electric power is environmentally clean. The problem with dams that make use of water and gravity to run turbines and generate electricity is their limited availability. Not many dams can be viably constructed in relation to total demand for energy. The giant dams have also been blamed for despoiling the marine eco-system. Efforts to address these concerns require big and sometimes prohibitive expenses such that focus has turned to low-impact "run-of-the-river" hydro-power-generating facilities. While they remain potent as sources of electric power, these relatively smaller facilities are not ecological hazards.
Green energy is the way to go. Alternative sources of energy are environmentally safe even as they respond to our growing need for power. This sunrise industry beckons. We would be well-advised to go with the current and invest in it.
Hermilando Aberia is an expert in social development work with at least 22 years of professional experience as either consultant or key staff member of health, community development, education and local governance projects. He has a master's degree in development management from the Asian Institute of Management. Contact Information: B21 L59 Kassel Kristina Heights, Tacloban City, Philippines. Mobile: (+63) 9058664106; Website: http://www.freewebs.com/iaberia
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