5 Pillars of Renewable Energy
The potential for these alternative-energy sources is vast, but they face very different challenges.
SOLARSize of industry:
Worldwide: $29.6 billion
U.S.: $3 billion, accounting for 0.4% of the nation's electricity
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Major players: First Solar, SunPower, China Sunergy (China), Suntech Power (China)
Potential: Could provide 10% of the nation's electricity by 2025. Worldwide sales could grow to $81 billion by 2018.
Problems: Solar energy wonÕt be cost-competitive with other forms of energy until 2015Ñtoday it relies heavily on subsidies. Also, growth depends heavily on the development of nationwide power grids.
WIND
Size of industry:
Worldwide: $51 billion
U.S.: $17 billion, accounting for 1.3% of the nation's electricity
Major players: General Electric, Vestas (Denmark), Gamesa (Spain), Siemens (Germany), Mitsubishi Heavy Industries (Japan)
Potential: The industry seeks to produce 20% of U.S. electricity by 2030. Sales could hit $35 billion a year in a few years. Worldwide: $139 billion by 2018.
Problems: Getting the electricity to major cities from remote wind farms will require billions for expanding the electrical grid.
GEOTHERMAL
Size of industry:
U.S.: $3 billion, accounting for 0.4% of the nation's electricity
Major players: Ormat Technologies, Calpine, Siemens (Germany), Sierra Geothermal Power (Canada)
Potential: The industry says it will double capacity in the U.S. in the next few years, perhaps aided by $440 million set aside for geothermal projects in the Obama administration's stimulus plan.
Problems: Discovering heat sources is expensive, and industry infrastructure is still in development.
SOLID WASTE
Size of industry:
U.S.: 0.3% of power generation
Major players: Veolia
Environnement (France), Waste Management, Covanta
Potential: The industry, with 89 facilities in the U.S., is mature. Growth will be slow.
Problems: Businesses -- which burn trash and generate methane gas from landfills -- must contend with "not in my backyard" resistance to new plants.
BIOFUELS
Size of industry:
Worldwide: $40 billion
U.S.: $14 billion
Major players: Poet,* Archer Daniels Midland, Cargill,* Valero Energy, Cosan (Brazil)
Potential: Some analysts estimate that the industry will grow to more than $80 billion worldwide by 2017. The industry is on the verge of breakthroughs that will allow the use of many other biofuel sources beyond corn and sugar.
Problems: Critics say
biofuels put too much demand on food sources and do little or nothing to reduce emissions of greenhouse gases.
Note: Figures are for 2008. *Privately held. Sources: American Wind Energy Association, Clean Edge, Kiplinger's Biofuels Market Alert, Geothermal Energy Association, Integrated Waste Services Association.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
How to Help Your Kids Without Ruining Your Retirement
Here are some general considerations to ensure the gift of assets to your kids will not negatively affect your financial future.
By Mario Hernandez Published
-
AI to Power the Next Generation of Robots
The Kiplinger Letter There's increasing buzz that the tech behind ChatGPT will make future industrial and humanoid robots far more capable.
By John Miley Published
-
Stock Market Today: Markets Tumble Amid Slower Economic Growth and Rising Prices
Disappointing readings on GDP and inflation helped tank equities.
By Dan Burrows Published
-
Stock Market Today: Stocks Run Out of Steam Ahead of Meta Earnings
The Dow Jones Industrial Average snapped a four-day winning streak after Boeing's first-quarter results.
By Karee Venema Published
-
Stock Market Today: Nasdaq Soars Ahead of Tesla Earnings
The EV stock rose nearly 2% ahead of its highly anticipated Q1 earnings report, due after tonight's close.
By Karee Venema Published
-
Stock Market Today: Markets Rebound Ahead of Big Week for Earnings
Equities rallied on easing geopolitical tensions, upcoming quarterly results.
By Dan Burrows Published
-
Stock Market Today: Nasdaq Spirals as Netflix Nosedives
A big earnings boom for credit card giant American Express helped the Dow notch another win.
By Karee Venema Published
-
Stock Market Today: S&P 500, Nasdaq Extend Losing Streaks
The two indexes have closed lower for five straight sessions.
By Karee Venema Published
-
Stock Market Today: Dow Slips After Travelers' Earnings Miss
The property and casualty insurer posted a bottom-line miss as catastrophe losses spiked.
By Karee Venema Published
-
Stock Market Today: Stocks Stabilize After Powell's Rate-Cut Warning
The main indexes temporarily tumbled after Fed Chair Powell said interest rates could stay higher for longer.
By Karee Venema Published