‘Renewable‘ seems to be the main tag of the new energy economy. In spite of the fact that funding seems to be drying up for green businesses (Reuters), the new energy economy is showing remarkable signs of progress.
“As fossil fuel prices rise, as oil insecurity deepens, and as concerns about climate change cast a shadow over the future of coal, a new energy economy is emerging in the United States,” says Lester R. Brown, President of the Earth Policy Institute, in a recent release, “New Energy Economy Emerging in the United States” . “The old energy economy, fueled by oil, coal, and natural gas, is being replaced by one powered by wind, solar, and geothermal energy. The transition is moving at a pace and on a scale that we could not have imagined even a year ago.
Many states are gearing up to be energy super powers by focusing on the large scale development of wind, solar and geothermal energy resources. The government will need to step up and keep pace with industry by developing a strong national grid. Although private investors are investing in long-distance high-voltage transmission lines, these need to be incorporated into a carefully planned national grid in order to unleash the full potential of renewable energy wealth.
For full report go to http://www.earthpolicy.org/Updates/2008/Update77.htm