Is Putting Your Money in Alternative Energy Sources A Good Investment?Are you looking for a place to invest your money? Have you thought about taking some of your money and put it into alternative energy sources? By the year 2013, the production of green energy is anticipated to be in the multi-billion dollar range. For instance, wind turbine technology has become more widespread due to the advancement in technology and reduction in cost. This has resulted in wind technology being really competitive against more traditional kinds of energy producing products. Wind technology has become so advanced that birds are no longer being accidentally killed.
Your investment dollars could be spent in a lot of worse places than in businesses that are engaged in wind energy production. Another area to think about investing is photovoltaic cell technology. These solar panels can be found in small lights, pocket calculators, buoys used by the US Coast Guard and other gizmos. Solar cells are also being used in bigger projects like commercial buildings and housing developments. Together with the falling prices, their energy efficiency is constantly increasing. This is computed by the amount of work to create energy versus the amount of energy produced.
Way back in 1982, the silicon cells' conversion efficiency was approximately four percent but nowadays, it is over 20 percent. Photovoltaic cells does not produce any pollution when producing electricity but it is not cost-effective enough to replace standard electricity. These cells, due to space constraints, can't create industrial-production amounts of electricity. There are more available areas where these cells can be installed, and the efficiency is increasing while the costs keep declining. As the research and development of alternative energy continue, advisors who manage investments continue to recommend their clients to invest in it.
New types of eco-friendly energy are emerging like tidal movements, currents and temperature changes. Hydro power generation is progressing with the French, and being studied by those in Scotland and the US. There has been a problem with saltwater causing the deterioration of metal but the materials employed nowadays are making hydro-power a reality. Marine growth and violent storms have resulted in problems as well. As the timing of ocean waves and currents is very reliable, as well as understood, there is a great advantage to ocean-produced energy.
In the last couple of decades, money put into hydro-electric technology has gone up. It is very clean power, but hydro-electric power is evidently limited 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 costly. As a result, there have been efforts to come up with ecologically sound, low-impact methods to produce hydro-power. Bottom line, investing your dollars in eco-friendly energy is the way to go.