Alternative Energy: A Wise Investment?
Are you searching for ways to generate profits? Why not take some of your money and put it into alternative energy? Experts think that alternative energy production will be in the multi-billion dollar range by the year 2013. For instance, wind turbine technology has become more widespread due to the advancement in technology and decrease in price. The result is wind energy products have become competitive with other established types of energy sources. As a matter of fact, wind-produced energy is advanced where birds no longer being killed by the propellers.
You shouldn’t put your dollars into something that doesn’t provide assistance to the environment. Another area to think about are solar power investments, or photovoltaic cell technology. You wil lbe able to find these in private property lights, pocket calculators, buoys used by the US Coast Guard, and a lot of other places. However, photovoltaic cells are also being used to power commercial buildings and housing developments. Together with the falling costs, their energy efficiency is constantly increasing. This is calculated by the amount of work to create energy versus the amount of energy produced.
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In 1982, the conversion efficiency of silicon cells was four percent, and with the latest technology, it is over twenty percent. Using solar cells can bring down the amount of pollution being produced but it is not cost-effective enough to be an alternative to regular electricity. Because of limited space, the solar cells are unable to produce extremely large amounts of electricity. There are more available areas where these photovoltaic cells can be put, and the efficiency is rising while the costs keep going down. As companies and individuals continue to find ways to create alternative energy, investment advisors still think that energy is a good investment.
There are new areas for new energy that are emerging like utilizing currents, tidal movements and temperature. The concept of hydro-power generation is progressing in France and being extensively researched in Scotland and the US. Hydro-power has had problems in the past with salt water causing metal deterioration but the materials used today are more efficient. Also in the past, really terrible storms and odd marine growth also caused problems in using hydro-power effectively. However, we do know that the timing of ocean waves and currents is pretty consistent thus making it a dependable source for energy.
Investments in hydro-electric technology have gone up a great deal over the past few decades. It is really clean power, but hydro-electric power is apparently confined by geography. Older dams have had issues with marine life interrupting production of energy. There has been mcuh effort done to protect the marine life but the cost has been high. Because of this, low-impact hydro-energy generators without ecological problems, have been given more attention. Bottom line, putting your money in green, alternative energy is the way to go.