Are you in search of places to invest your money that will bring you profits? A good investment to consider is alternative energy sources. By the year 2013, the production of eco-friendly energy is predicted to be in the multi-billion dollar range. For example, wind turbine technology has become more widespread as a result of advancement in technology and decrease in price. This wind energy technology, which is more advanced, have become more competitive, market-wise, with established types of energy sources. Wind technology has become improved that birds are no longer being unintentionally killed.
You don't want invest your money into something that doesn't provide assistance to the environment. Another alternative energy resource you could invest in is solar cell technology. These solar panels can be found in small lights, hand calculators, buoys employed by the US Coast Guard and other gadgets. They are also being utilized in bigger projects like commercial buildings and housing developments. As prices keep decreasing, the efficiency of solar cells continues to improve. This is computed by the amount of work needed for energy production, compared to the energy generated.
The silicon cells' conversion efficiency used to be four percent in 1982, but nowadays it is over 20%. Solar sells does not produce any pollution when producing electricity but it is not inexpensive enough to replace traditional electricity. These solar cells, as a result of space constraints, are not able to create industrial-production amounts of electricity. There are more available areas where these solar cells can be installed, and the efficiency is going up while the costs keep going down. 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 originating from tidal movement, currents, and differences in temperature. Utilizing hydro-power is going well in France and being researched in Scotland and the US. Hydro-power has had problems in the past with salt water causing the deterioration of metal but the materials used today are more efficient. Marine growth and severe storms have caused problems as well. But leveraging the ocean for energy has an advantage because we know that waves and currents are highly predictable and are consistent.
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Investments in hydro-electric technology have grown a lot over the past few decades. Hydro-electric power generates extremely clean energy but it is confined by location. Older dams, for example, have had problems with marine life disruption. There has been mcuh effort done to protect the marine life but the cost has been high. Because of this, there have been a lot of research in developing low-impact hydro-power technology that does not affect the environment. The bottom line is that investing in green sources of energy equals investing in our future.