Alternative Energy: A Good Investment?Are you looking for a place to invest your money? A prospective area to think about investing in is the area of alternative energy. It is anticipated that alternative energy production will be in the billion dollar range by 2013. For example, wind turbine technology has become more widespread due to the advancement in technology and decrease in price. This wind power technology, which is more state-of-the-art, have become more competitive, market-wise, with traditional types of energy. Not even birds are getting killed anymore with the innovative wind-powered technology.
You wouldn't want invest your dollars into something that doesn't provide assistance to the environment. Another area to look into investing is photovoltaic cell technology. These solar arrays can be found in small lights, hand calculators, buoys employed by the US Coast Guard and other devices. Solar cells are also being used in more extensive projects such as commercial buildings and housing developments. Along with the dropping costs, their energy efficiency is constantly increasing. This is measured by the amount of work to create energy versus the amount of energy created.
Back in 1982, the conversion efficiency of silicon cells was four percent, and with the up-to-date technology, it is over 20 percent. Using photovoltaic cells can cut back the amount of pollution being created but it is not cost-effective enough to be an alternative to traditional electricity. Since large amounts of photovoltaic cells are called for to produce large amounts of electricity, they are not ready for producing electricity on a large scale. There are more available areas where these photovoltaic cells can be put, and the efficiency is increasing while the costs keep going down. As the research and development of alternative energy grow, advisors who manage investments continue to recommend their clients to invest in it.
There are new areas for new energy that are appearing like using currents, tidal movements and temperature. The concept of hydro-power generation is advancing in France and being widely researched in Scotland and America. There has been an issue with saltwater causing the deterioration of metal but the materials utilized today are making hydro-power a reality. Also in the past, really severe storms and unusual marine growth also caused problems in using hydro-power effectively. Because the timing of ocean waves and currents is so reliable, as well as understood, there is a huge advantage to ocean-produced energy.
Investments in hydro-electric technology have increased a lot over the past several decades. The power it creates is clean but hydro-electric energy is restricted by geography. Older dams, for example, have had issues with marine life disruption. There has been mcuh effort done to protect the marine life but it's been expected. Because of this, there have been a lot of research in developing low-impact hydro-power technology that doesn't negatively affect the environment. The reality of all of this information is that putting your money in the future of alternative energy is sound advice.