Investing in Wind Energy
Socially Responsible and Fiscally Wise
Wind farms used to be considered a volatile and high risk investment. Congress, who we all know to be notoriously fickle about such issues, must renew the tax credits (that make start up wind projects possible) every few years. It is not the cost of the wind (which is one of the few free• Natural gas costs about $65. per megawatt hour
• Coal costs about $55. per megawatt hour
• Wind costs about $45. per megawatt hour
Retrieved from http://www1.leg.wa.gov
According to the Department of Energy, harnessing wind power is the fastest growing technology in the world. Shares in wind energy related industries have grown to approximately double in five years. Corporations and blue chip organizations along with some institutional investors are lending stability and legitimacy to what was once thought of as fringy environmentalist dreams. General Electric bought Enron’s wind turbine manufacturing division in 2002 and nurtured the business to a $2 billion dollar sales figure for 2005. Citigroup Venture Capital invested an equity stake in India’s Suzion Energy Turbine manufacturing division. The Investor Network on Climate Risk has promised to invest $1 billion dollars in wind power along with other clean energy technologies this year. These markers indicate a confidence that the demand for wind power will grow over the next decade.
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Posted on 08/31/2008 at 7:08:54 AM