Exciting Times for Renewable Energy

2008 was a tremendous year for renewable energy in the United States with the wind industry leading the way. Take a look at the numbers (source American Wind Energy Association):

- 8,358 megawatts of new generating capacity installed
- Investment of US $17 billion
- New wind projects accounted for about 42% of the entire new power-producing capacity added nationally
- New wind projects will avoid 44 million tons of carbon emissions, the equivalent of taking over 7 million cars off of the road.

All of this occurred with George W. Bush in office.

Now, think about all the changes the Obama administration has made and intends to make regarding renewable energy and the energy grid. Think about the dollars set aside in the economic stimulus plan. Think about the extension of federal tax incentives. Think about the new regulatory regime that is now in place (hint: it is run by folks who believe in global warming). Think about the fact that people, companies, and institutions worldwide will be looking for places to invest. Think about all of the predictions and projections for increased energy demand. Think about the fact that a number of oil analysts and researchers have indicated that oil supply is decreasing. Think about the new efficiency regulations that will be coming to the car industry. Think about the creation of the International Renewable Energy Agency (IRENA) that 75 countries have joined. Think about cap and trade regimes and carbon taxes.

Now, try and tell us that renewable energy investments are going to decrease. Tell us that the cheap price of oil will negate investments in renewable energy technologies and carbon mitigation strategies. Tell us that clean-coal is the real answer when there isn't a single clean-coal facility in operation. Tell us that because it is so cold in the United States there is no global warming and forget about the fact that climate change is the name of the game and increasingly severe weather systems and storms are one of the primary indicators of climate change and oh by the way Australia is in the midst of a record heat wave. Lie to us. Forget the facts. Ignore the truths. It is fine with us because we aren't as stupid as you think. You can fool some people sometimes, but you can't fool all the people all the time.

Investments in renewable energy are going to increase.