Well, we've been paying attention and the stock market seems to be undergoing a "correction" because of America's foolish history with credit. My alternative-energy heavy portfolio (that's right...I've started investing) isn't unscathed, but it's not doing as poorly as the rest of the market either.
It looks, in fact, like alternative energy stocks might end up being a fairly safe place for your money. And banks know it. Wells Fargo just invested a quarter of a billion dollars in Nevada Solar One solar thermal plant. The 44 acre solar plant will be helping to power the Las Vegas Strip soon. The great thing about solar power is that once the plant is built, the fuel is free. So they are, in effect, pure and safe investments. You put the money in and you get a percent return, pretty much forever.
In fact, the return is likely to go up as costs of coal and oil continue to increase. Wells Fargo's interest will, of course, increase the number of large investors looking at utility-level renewable projects. The Solar One project is one of the largest, but others are on the way that will soon eclipse it's 64 megawatt capacity. So, in a climate where traditional lending is starting to look a little more risky, renewable energy is starting to look pretty attractive.
Green Wombat, however, posits that Nevada Solar One is, in fact, a less risky venture than other plants, as it's a tried-and-true design. There are other similar plants that have been running and producing power since the 1980s. So risk indeed remains a hurdle for new plant designs using new technologies. But I think we'll see the big lenders moving onto our side fairly quickly thanks to our little credit crash.
Via Green Wombat
-900 Acres of Canadian Solar-
-World's Largest Solar Project-
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