Renewable energy industry looks to further reduce carbon footprint, fossil fuel dependence
The nation's renewable energy industry is working to develop new ways to increase efficiency and develop new technologies to make this power source more cost effective and more widely used, according to a recent study.
Strategy Analytics Gallium Arsenide (GaAs) and Compound Semiconductor Technologies Services, a Boston-based firm, found that significant resources are being put into improving the renewable energy systems by both companies and government agencies.
The analytic company, in its newest study "Compound Semiconductor Industry Review July 2011: Optoelectronics, Materials and Equipment," looked at recent information regarding new products, technology developments, financial announcements, new contracts and other relevant data from some of the nation's leading renewable energy companies, such as First Solar, Spire, DelSolar, Advanced Energy and Alta Devices.
According to renewable energy professional Gil Melear-Hough, in a recent column for the Tennessean, solar power and other renewable power sources are a viable industry and will continue to be in the future, even if government subsidies go away. In fact, Melear-Hough writes that in competition with nuclear, coal-burning and fossil fuel industries, solar power can hold its own.
"With an even playing field, one that supported all sources of energy in similar measure, solar would not only survive, it would thrive," he wrote.