Alternative Energy: A Smart Investment?Are you looking for ways to turn your extra money into profit? A good area to consider investing in is the area of alternative energy. It is predicted that alternative energy production will be in the billion dollar range by 2013. wind power has become more economical with the advancement in wind-turbine technologies and more widespread in usage as well. This has resulted in wind technology being extremely competitive against more conventional forms of energy producing products. In fact, wind energy technology is advanced where birds no longer being killed by the propellers.
You wouldn't want put your dollars into something that doesn't help the environment. Another area to think about are photovoltaic cell investments, or solar cell technology. These solar cells can be found in small lights, hand calculators, buoys used by the US Coast Guard and other gadgets. But solar cells are also being employed to power commercial buildings and housing developments. As costs go down, the efficiency of solar batteries continues to increase. This is computed by the amount of work required for generating energy, compared to the energy made.
Back in 1982, the silicon cells' conversion efficiency was 4% 4 percent, and with the present-day technology, it is more than 20 percent. Utilizing photovoltaic cells can bring down the amount of pollution being created but it is not cost-effective enough to be an alternative to traditional electricity. Due to limited space, the photovoltaic cells are not able to produce extremely large amounts of electricity. But as areas are converted to put these cells, the price and efficiency will get better. As the research and development of alternative energy grow, advisors who manage investments are recommending people to invest in it.
New kinds of eco-friendly energy are coming up like tidal movements, currents and temperature changes. Hydro power generation is advancing with the French, and being studied by those in Scotland and the United States. There has been an issue with saltwater causing the deterioration of metal but the materials employed today are making hydro-power a reality. Also before, really terrible storms and odd marine growth also caused problems in using hydro-power effectively. Because the timing of ocean waves and currents is so reliable, as well as understood, there is a great advantage to ocean-produced energy.
In the last two decades, investments have gone p in hydro-electric technology. Hydro-electric energy generates very clean energy but it is restricted by location. Big, older dams, while already important as energy generators, have had problems with marine life disruption. In an effort to protect the marine life, those dams were improved and the improvements have been pricy. Because of this, there have been efforts to come up with ecologically sound, low-impact ways to make hydro-power. The bottom line is that putting your money in alternative energy sources is investing in our future.