Red Hot and Green
Renewable Energy and Green Technology Hot
The renewable-energy market is entering a new era, growing independently of fluctuations in fossil-fuel energy prices. While every story on renewable energy still must include this unfortunate disclaimer — renewable energy provides only a small percentage of the energy consumed in the U.S. (an estimated 6.7 percent this year) and remains more expensive than fossil-fuel energy — analysts are bullish on its future prospects. Production from renewables continues to rise and prices continue to fall, and investment in solar, wind, and geothermal technologies is growing. The latter trend is apparent in California, where the recently announced Green Wave program could funnel $1.5 billion from the state’s two biggest pension funds into investments in clean technologies such as renewables, water-purification systems, and waste-recycling systems.