Gains By Renewable Energy Industry-Past and Future
Renewable energy grew in leaps and bounds in 2008, and the future is promising with wind, solar and geothermal power gaining in the foreseeable future. You have the nuclear and fossil fuel industries saying that renewable energy is a good thought but is it economically feasible? The answer is yes, although those industries would have the public believe otherwise.
Wind Power
In the past year we have seen wind power grow in places where there is surplus wind to be harnessed. That would include Texas, Kansas, and Missouri. There is a wealth of wind in Texas and they have done their best to utilize this power to grow tax revenues, create jobs, create a large tourism industry (people actually come to see the wind turbines in operation) and increase educational resources. Towns that used to see most of their population moving on as they reached the age of the majority. Now these towns are witnessing a rebirth of sorts as young people are staying in droves.
The year 2008 was the best year in United States wind power history. The American Wind Energy Association (AWEA) has released reports stating that the industry will easily surpass 2007, they added Wyoming and West Virginia to the list of states with the highest volume of wind power. The AWEA revealed that only Germany, India, and Spain had more wind power capacity than Texas at the end of 2007. They noted that West Virginia had the fastest wind power capacity growth which tripled it’s capacity. Wyoming reportedly could have added 1,856 more turbines and around 2,800 MW of wind generation capacity.
On the eastern seaboard offshore wind turbines seemed to be the answer according to the AWEA and is more cost effective than fossil fuel and nuclear power. Plans have been revealed to build 96 offshore wind turbines arranged in a grid 16 to 20 miles off Cape May and Atlantic counties.
Congress has awarded wind a one-year Production Tax Credit (PTC) extension in the Economic Stabilization Act of 2008. AWEA advocates a long term extension of the wind PTC.
Geothermal Power
The Geothermal Energy Association said 47 new geothermal projects are in various stages of development in California and Nevada. When completed they will provide more than 2,100 MW, and there are projects getting started in Arizona, New Mexico, Oregon and Washington. The U.S. Department of the Interior said in October that more than 190 million acres of federal land in 11 western states including Alaska will open to geothermal energy resource development.
The Department of Energy’s Office of Energy Efficiency and Renewable Energy report “Geothermal Tomorrow 2008″ stated that improved geothermal technologies have “the potential to access vast untapped geothermal energy sources.” One such technology, enhanced geothermal systems (EGS) involves digging wells into hot rock, fracturing it to create a reservoir and then extracting the heat with a second well, making geothermal a viable source of power generation in areas that don’t have naturally occuring hydrothermal reservoirs. This would mean geothermal generation could take place in much of the United States.
There was a two year congressional PTC extension for geothermal energy, however costs are becoming economical without the PTC.
Solar Power
Solar Photovoltaic Panel Roof Installation
A congressional investment tax credit (ITC) extension is helping solar’s fast track growth. The 30 percent federal ITC is for residential and commercial solar installations, has been extended for 8 years. The director of research, Mike Taylor at the Solar Electric Power Association (SEPA), stated that was the largest solar milestone for 2008.
New Energy Finance has seen a possible change in the photovoltaic (PV) and solar thermal electricity generators markets. Some analysts think that supply will exeed demand and the result could be price decreases and consolidation.
SEPA noted the large number of solar projects announced in 2008, both CSP and distributed PV was considered to be worthy of milestone status. Recent estimates have CSP plants with an estimated total of 4,000 MW are in the planning stages.
In 2008 utilities and the general public started to see the benefits of rooftop solar photovotaic and(PV) installations, that was very fortunate rooftop PV installations are now in great demand. Southern California Edison in March 2008 started to build what they said would be the largest solar cell project in the US. This will be built on two square miles of commercial building roofs where they would generate 250 MW of advanced PV technology. Duke Energy in North Carolina has stated they will build a 50 million dollar solar rooftop installation, they will generate 8 MW of of power from 425 sites over the next two years. In April of 2008 the Center for Revolutionary Solar Photoconversion (CRSP) was launched. Fourteen companies belong to the CRSP, the newest research center of the Colorado Renewable Energy Collaboratory.
The Future of Renewable Energy
The sector will show strong growth in 2009, although it may not be a record year due the economy. The poor economy will not affect European expansion in wind. The US is as usual having growing pains and they need to be overcome in order for our country to keep up with our European counterparts. The renewable energy industry need only keep up with demand for transmission, match renewables with demand response. This is our business model for this sector. We’ll save Americans money and we’llsave the planet as well. We will need intelligent infrastructure from the generating station to the customer. This fits in nicely with our next President’s (Obama) plans. We will need to give our president help, where is the old American spirit of invention? Donate 50 cents or a dollar, it will go to organizations involved in saving the environment. Let’s see what we can do working together!
Tags: geothermal energy, geothermal energy resource development, photovotaic solar panels, Renewable energy resources, solar power, wind power, wind turbine