Sectors » Energy » Renewable Energy

With renewable energy, resources for producing power are replaced by natural ecological cycles. In today’s world where oil is becoming less and less abundant we are beginning to look at alternative energy sources. Specifically, we’ll be able to harness one that will someday leave us pollutant free. Now is the time for businesses to take advantage of renewable energies. Already there are multiple tax and grant incentives in place to make this a reality sooner rather than later. Already this market is becoming competitive, as incentives for businesses are being taken advantage of by new organizations all the time.

Wind

To date, wind power only accounts for 1% of the world’s energy production. However, wind power generation increased more than fivefold from 2000 to 2007. Wind is being used for everything from water pumping to generating electricity. In fact, wind turbines being manufactured today can produce enough electricity to power 4,000 homes per turbine. And the best part is that they’re 100% naturally powered and emission free. Business owners in remote locations with windy conditions are sitting on prime real estate for wind energy.

For example, ski resort owners who experience windy conditions for a majority of the year have the potential to eliminate as much as 50% of their electric bill by installing wind turbines. Jiminy Peak, a ski resort located in Hancock, MA, installed a wind turbine capable of producing 4.6 million KWH out of the 7.5 million KWH the resort uses each year. And there are environmental benefits to wind as well. A 1.5 MW wind turbine’s electricity production is equivalent to removing 7.1 million pounds of CO2 per year that would normally be produced by a power plant. It is also equivalent to planting 83,000 trees a year.

Solar

Solar power uses the most abundant and renewable energy source that we have – the sun. But although the first solar cell was created in 1839, solar power has only recently been gaining momentum. There are many different types of solar cells varying in purpose and efficiency. The market for solar power is huge and the benefits are even greater. The tax incentives for businesses to go solar are at the stage where your company can be virtually tax-free for ten years.

The payback on solar power is also relatively quick and the variety of panel types is extensive - from Building Integrated Photo Voltaics (BIPV) to full blown mono-crystalline solar panels.

Water

Using water to generate power is nothing new. In ancient times, hydropower was a convenient way to crush grain or flood irrigation fields. More recently in our evolution, we’ve created electricity with turbines powered by structures such as the Hover Dam. With such a readily available resource, it’s easy to see what benefits there are to taking full advantage of its energy capabilities.