Is Putting Your Money in Alternative Energy Sources A Wise Investment?Are you looking for a place to invest your money? A good area to think about investing in is the area of alternative energy. Experts believe that alternative energy production will be in the multi-billion dollar range by the time 2013 rolls around. wind power has become more economical with the advancement in wind-turbine technologies and more widespread in usage as well. The result is wind energy products have become competitive with other conventional types of sources of energy. Not even birds are getting killed anymore with the new wind-powered technology.
You can put your hard-earned dollars in businesses that do a lot worse than wind energy production. One other area to look into are solar power investments, or photovoltaic cell technology. These solar panels can be found in small lights, hand calculators, buoys used by the US Coast Guard and other gadgets. Solar cells are being used on a growing number of roofs of commercial buildings, as well as housing developments and building complexes. Together with the decreasing prices, their energy efficiency is constantly increasing. This is computed by the amount of work to make energy versus the amount of energy produced.
Back in 1982, the silicon cells' conversion efficiency was 4% 4 percent, and with the current technology, it is over 20%. Using photovoltaic cells can reduce the amount of pollution being created but it is not affordable enough to be an alternative to conventional electricity. As large amounts of photovoltaic cells are called for to generate large amounts of electricity, they are not ready for producing electricity on a large scale. There are more available areas where these cells can be installed, and the efficiency is rising while the costs keep going down. As companies and individuals continue to find ways to create alternative energy, investment advisors still think that energy is a good investment.
New kinds of green energy are appearing such as tidal movements, currents and temperature changes. Hydro power generation is progressing with the French, and being studied by experts in Scotland and the United States. Hydro-power has had issues before with salt water causing metal deterioration but the materials employed these days are more efficient. Bad storms and marine growth have likewise been disruptions to the production of energy previously. But we know that the timing of ocean waves and currents is pretty consistent thus making it a reliable energy source.
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In the last 20 years, investments have increased in hydro-electric technology. It is really clean power, but hydro-electric power is evidently restricted by geography. Older dams, for instance, have had issues with marine life disruption. Much has been done to protect the marine life near the dams but the costs have been very high. As a result of this, low-impact hydro-energy generators that doesn't cause ecological problems, have been given more attention. When it is all said and done, investing your dollars in green, alternative energy is the way to go.