Originally published February 15 2005
Alternative energy is a 'multitrillion-dollar opportunity' for investors, industry leader says
by Mike Adams, the Health Ranger, NaturalNews Editor
Opportunities abound for entrepreneurs looking to strike it rich by developing new energy forms, leaders of the alternative energy industry say. The owner of one large solar energy company, in fact, says the sun, wind and hydrogen, all add up to a "multitrillion-dollar opportunity" for investors. Solar power alone is now a $5 billion dollar a year industry, analysts say.
It's little wonder that a new generation of entrepreneurs believes that clean alternative energy---geothermal, hydrogen, solar, and wind---may finally turn into a serious business.
Advances in nanotechnology and electronic controls are driving down the costs of alternative energy even as prices of fossil fuels climb.
According to the Solar Energy Industries Association in Washington, D.C., solar power alone has grown into about a $5-billion-a-year global industry and is expanding at an annual rate of 40%.
Bill Gross, whose solar company, Energy Innovations, is featured in this issue, asserts that alternative energy is "a multitrillion-dollar opportunity.
In Silicon Valley hydrogen, solar, and wind power are being talked about as if they were the next Internet.
Although clean energy represents a relatively small chunk of venture capitalists' portfolios, it is growing briskly.
According to the San Francisco venture capital firm Nth Power, investments in clean energy in 2003 reached $481 million, or 2.4% of all venture money invested, up from 1% in 2000.
Last year California announced it would invest $1.5 billion in environmental technologies.
And in November, Colorado passed a law mandating that 10% of its energy must come from wind and solar power by 2015.
That makes 18 states, including California and New York, that have now passed environmentally friendly energy standards.
As in every industry, from autos to aeronautics to infotech, most of the breakthroughs come from entrepreneurs.
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