Is It Prudent To Invest In Alternative Energy?
Are you in search of places to invest your money that will bring you profits? A wise investment to consider is alternative energy. By the year 2013, the production of eco-friendly energy is predicted to be in the multi-billion dollar range. For instance, wind turbine technology has become more widespread due to the advancement in technology and decrease in cost. The result is wind power products have become competitive with other traditional types of sources of energy. Wind technology has become better that birds are no longer getting unintentionally killed.
Your ivnestment money might be spent in many other worse places than in businesses that are engaged in wind energy production. One other area to look into putting your money in is photovoltaic cell technology. These small solar-powered cells power things like calculators, flashlights, and other gadgets. They are also being utilized in larger projects like commercial buildings and housing developments. As prices go down, the efficiency of solar panels continues to increase. This is calculated by the amount of work necessary for generating energy, compared to the energy generated.
In 1982, the energy conversion efficiency of silicon cells was 4% 4 percent, and with the current technology, it is more than 20 percent. The use of solar cells can bring down the amount of pollution being created but it is not economical enough to be an alternative to traditional electricity. These photovoltaic cells, as a result of space constraints, are not able to generate industrial-production amounts of electricity. But as areas are converted to put these cells, the price and efficiency will get better. With the nonstop search for new methods of generating alternative energy, advisors of investment portfolios are positive that energy is a good investment.
New forms of eco-friendly energy are emerging like tidal movements, currents and temperature changes. The concept of hydro-power generation is progressing in France and being widely researched in Scotland and America. Salt water has been an issue previously with metal deterioration, but that has been improved by employing better materials. Severe storms and marine growth have likewise been disruptions to the production of energy previously. Since the timing of ocean waves and currents is so reliable, as well as understood, there is a big advantage to ocean-produced energy.
Investments in hydro-electric technology have gone up a good deal over the past several decades. Hydro-electric power generates extremely clean energy but it is limited by location. Older dams have had issues with marine life disrupting production of energy. A lot has been done to protect the marine life close to the dams but it has been expensive. Due to this, there have been lots of research in coming up with low-impact hydro-power technology that has no effect on the environment. The bottom line is that putting your money in green energy sources is investing in our future.