Alternative Energy

Alternative Energy

Alternative energy news, and information about renewable energy technologies.

Nov 10

Barack Obama on Renewable Energy

Posted in Energy Economy | Energy Industry | Energy Politics

Barack Obama Barack Obama has been elected as the 44th President of the USA and with his election, Solar Integrated Technologies rose by 30% yesterday after increases of 22% by Renewable Energy Corporation and 16% by the wind turbine maker Vestas. Barack Obama promised to spend $150 billion over the next 10 years developing alternative energy. Promises like these leave a legacy for future generations to imitate. Clean technology and green energy stocks have registered a new high as City analysts anticipate a major boost from the incoming president. The US election result has provided a much-needed encouragement at a critical time and that too for an industry which is still in its nascent phase. And this sector is threatened by the banking crisis and emerging economic recession. Some companies had seen their share prices halve in the turmoil that began in September. Reduction of carbon level, a cushion against fluctuating oil prices and creation of more jobs in economic slowdown would be the natural offshoots of this policy.


How the green energy analysts view Obama’s election to the highest office? Their mood is quite upbeat and they predict a major shift in the renewable energy policy of the USA. Earlier they were of the view that the Bush administration is not doing enough for the alternative energy. Kate Hampton, head of policy at Climate Change Capital, a UK-based investment manager, was delighted with the poll outcome and views it as a massive step forward for renewables. She opines, “We cannot overstate how divisive the Bush administration was, how far behind the US now is in the transition to the low-carbon economy and how high expectations are now that Obama is the president-elect.” Dean Cooper, alternative energy analyst with Ambrian Partners in London, is also expecting widespread change in the US widespread change in the US, considering that production tax credits for wind power generation companies and industries has been increased from one year to seven years, and more push towards a greener economy.

In the era of globalization, even European markets can’t remain immune to the fluctuations faced in the US market. “Since the onset of the most recent phase of the credit crisis, the European wind sector has been battered with an unweighted average decline of 45% compared to a decline of 23% for both the S&P 500 and FTSE Eurofirst 300 over the same period,” said Michael McNamara, analyst at Jefferies & Co, in a research note published at the height of the sell-off. “Much of this has been linked to fears that wind power developers would see themselves cut off from access to financing due to a toxic combination of a potential global closure of the project finance market and a drying up of demand for tax equity investment in the US.”

It’s highly unlikely that Barack Obama will abandon his commitment to create a new energy economy although the times are tough and public financing is not thriving. Obama’s energy and environmental fact sheets are chalked out well with details. In October, in an interview with Time magazine he confirmed that energy would be his number one priority if he gets elected to the highest office.

Obama and the Democrats intend to tackle the excessive carbon emission problem legislatively by floating “cap and trade” system. This legislation intends to impose a cost on harming the planet, boosting the alternatives and feeding public coffers. The president-elect also has a good investment plan to finance some of his investment program via a windfall profits levy. And he also wants to make crude obsolete in future. For instance, he proposes showering buyers of plug-in electric and other “advanced” vehicles with a $7,000 tax credit, as well as getting serious about producing ethanol from plant waste.

  • http://www.youtube.com/user/xwushux bidner

    Please check out this 11 year old kid’s Public Announcement Video called Renewable Energy . . . .

  • http://www.youtube.com/user/xwushux bidner

    Please check out this 11 year old kid’s Public Announcement Video called Renewable Energy
    http://www.youtube.com/user/xwushux

  • James

    In an effort to combat climate change and to lower greenhouse gasses, President elect Obama should make the Trans-Global Highway a major policy directive in his administration., The project was proposed by Frank X. Didik, who also happens to be the found of the Electric Car Society, a number of years ago. The Trans-Global Highway would physically link the continents of the world together utilizing existing roads, rail lines and through a series of under water tunnels. The Trans-Global Highway would clearly lower transportation costs as well as reduce the huge amount of energy needed to transport products globally . I also see the Trans Global highway as a method to increase international cooperation and better allocation of global resources, with minimal invasiveness of the environment, It may well be the key infrastructure project that Mr. Obama has been seeking. The full proposal can be read at http://www.TransGlobalHighway.com

  • http://www.energynews.gr Basil Dimitropoulos

    Dear Bloggers:

    The answer to OPEC and climate change IS the power supplies and electric vehicles at http://www.energynews.gr

    What we need is an International Public Prosecutor Intervention.

    Thank you.

    Sincerely,

    Basil Dimitropoulos
    Electrical Engineer
    104 – 106 Kremou Street, Kallithea, Athens 176-76 GREECE
    TEL: +30-210-9590530

  • http://www.energynews.gr Basil Dimitropoulos

    Dear Victor:

    The Space Solar Power Satellites CAN NOT provide energy to the BILLIONS OF RESIDENTS of this planet. THE answer to OPEC and climate change IS the power supplies and electric vehicles at http://www.energynews.gr

  • Calhoun

    Of course like any one who likes scientific projects, I also like all of the various proposals to varying degrees. But my feelings on renewable energy center on simpler and what I feel are more practical projects like investing in the retrofitting of street lights with solar energy kits, and also Trash Plasma Gasification Plants to clean up America and provide cheap energy! I like these projects because there is no need for research, they are both off the shelf technologies, and they are cutting edge Renewable Alternative Energy.

    Thanks,

    Clarence

  • http://wmchicago.com/Waste_Management_Videos.html R

    Here is a webpage which you can watch some videos regarding Waste to Energy.

    Take Care,

    http://wmchicago.com/Waste_Management_Videos.html

  • Nicole

    I hope that Obama is really going to do this for America. We sure as hell need it. Our world is about to come to an end.

  • Joan Eileen Connor

    Our World must rely on “Renewable Energy!” It’s a matter of changing our lifestlyes & educating ourselves with regards to alternative energy sources and quite simply, making reasonable consumer options which protect our environment! Hopeful Regards, Joan Eileen Connor


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