News about Solar, Wind and alternative green power technologies

Investing in renewable energy is the trend for the future, and the most powerful people on earth are admitting it. According to “Forbes Magazine”, President Obama is the most powerful person on the planet followed by Chinese President Hu Jintao. They are both putting alternative sources of energy on the agenda.

In a recent speech by Obama, he said that “the nation that leads the clean energy economy will be the nation that leads the global economy.” China is the leader taking renewable energy to unprecedented levels.

It is certain that other economies are in the game. The United State and Europe have been leading in investment in renewable energy but are set beneath China in respect to their grandest plans.

The recent boost in renewable energy in America has been a strategy for the government to support its feeble economy and create more jobs. Obama Administration is committed in making the renewable grow and this is what is accounting for continuous growth of clean energy sources in America.

According to American Wind Energy Association, the power provided by wind energy has been rising annually by 39% per year for 5 years. The figures are similar for other technologies such as solar, and this is mainly due to the magnanimous consideration governments are giving to it through subsidies.

Only to mention, amidst the 10 largest renewable projects five of them were constructed within the last two years.

Future is Bright But Figures are Low

The future for renewable energy seems outstanding. Yet, statistics are saying otherwise, as renewable energy is still a diminutive representation of the energy provided worldwide. In America it represents around 10 percent and hydropower is responsible for almost 7 percent of that renewable portion. Moreover, on an international ground renewable energy is almost 20 percent and hydro-power represents for around 17 percent of it. In the world portfolio of energy, wind, solar and other alternative sources account only for 3 percent of world supply of clean energy.

The blatant truth is that renewable energy is costly. Coal and nuclear fuel is much more efficient compared to solar and wind energy. In general a nuclear reactor will constantly produce around 95 percent of its full capacity whereas a wind farm will only operate at 20 to 40 percent of its full capacity. Solar energy is dependent on the region but usually less than 20 % of full capacity on average is produced.

Size Matters

Size is not only showing off, it is necessary to make progress in the field of renewable energy. Now, the largest wind farm is found in Texas, known as Roscoe Wind Farm, and it has an optimum capacity of 782 MW. However, a nuclear plant having such a capacity would provide 600,000 households with energy. However, the changing nature of wind gives Roscoe only the potential to fuel 200,000 American households with electricity.

China is going for colossal projects. Nowadays, 3 of the 10 largest projects are found in America. However, China is surpassing the rest of the world both in wind and solar project, as they are pondering towards projects that are incomparable to our known see-able.

China has announced their goal to construct a 2, 000 Megawatt solar thermal project. It is actually 500% larger than the biggest one operated by California’s solar Energy Generating system. On the wind energy side they are pondering to tap into a 20, 000 MW project, 25 times larger than the actual number one, Rescoe Wind Farm. A final step to construct a 2,000 MW solar photovoltaic farm will be as much as 33 times larger than the leader today, found in Spain having a capacity of 60 MW.

According to an analyst from Bloomberg New Energy Finance, Ethan Zindler, large projects give investors economies of scale but the risk is still very high. Large development is not always more conducive according to financers as well as utility companies.

In America, small projects are more feasible as they are completed faster. According to government subsidies, completed projects receive cash grants of around 30%, and going for large project, might lead to expiration of subsidies before projects are completed.

Another, issue is licensing and permits for grand project that take more time to be approved. Geothermal project of less than 50 MW are easier to get approval.

China is however, not going to leave America as a loser as they are going to use technology from the United State. The photovoltaic farm will actually be having solar technology from First solar and California’s eSolar.

Source: Forbes