Alternative energy is a term that refers to any source of usable energy
intended to replace fuel sources without the undesired consequences of
the replaced fuels. Typically, official uses of the term, such as
qualification for governmental incentives, exclude fossil fuels and
nuclear energy whose undesired consequences are high carbon dioxide
emissions, the major contributing factor of global warming according to
the Intergovernmental Panel on Climate Change, and difficulties of
radioactive waste disposal. Over the years, the nature of what was
regarded as alternative energy sources has changed considerably, and
today because of the variety of energy choices and differing goals of
their advocates, defining some energy types as "alternative" is highly
controversial.
Obama has touted green energy as a way to create jobs
and reduce the country's dependence on fossil fuels. The stimulus
includes money to boost alternative energy products and increase
efficiencies in buildings.
The sector got off to a strong start last year with
record investments in new projects. But falling oil prices and frozen
credit markets have taken a toll.
Venture capital investment in the industry hit a
record $4.7 billion in 2008. But those investments plunged 44 percent in
the fourth quarter to $954 million.
Many in the sector are hoping the stimulus will keep
the industry growing. The plan includes $14.4 billion for government
energy efficiency and renewable-energy programs, $4.5 billion for a
smart electricity grid, $2.9 billion to weatherize modest-income homes
and a tax-credit extension for renewable-energy production.
Aiming to strengthen world’s renewable energy use,
particularly in geothermal energy, a global consulting firm is
organizing the "GeoFund Geothermal Workshop" in Istanbul this year.
Cooperating with the World Bank Partership International, which provides
regulatory, institutional, technical and financial advice to clients on
infrastructure investment projects, the workshop focuses on attracting
investor attention in geothermal energy in Europe, Asia and Africa as
part of the World Bank’s Geothermal Energy Development Program, or
GeoFund.
Analysis aims to increase the understanding of the
current and future characteristics, roles, and interactions of
government, markets, and technologies. The acquired understanding is
used to inform technology, benefits, market, policy, and program
decisions as energy efficient and renewable energy technologies advance
from concept to commercial application.
Alternative Energy
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