Press Release Source: StockCall On Thursday September 9, 2010, 8:55 am EDT
JOHANNESBURG, SOUTH AFRICA–(Marketwire – 09/09/10)
“Renewable energy got a shot in the arm as China recently supplanted the United States as the most favorable place for solar and wind projects. China, the world’s leading energy consumer, vowed to receive 20% of its energy from renewable sources by 2020. In addition, China also doubled subsidies for renewable energy to over $500 million in the second half of last year and plans to spend over $700 billion over the next ten years”
This has been our opportunity to lose for two decades and it would appear that we are choosing to lose it. This entire industry is now in play. The Chinese Get It – Will we wake up or will we cede the largest industry (energy) on the planet to the Chinese?
Let me put this in perspective: Based upon work I did to write this paper http://www.heliotronics.com/papers/Relevance_of_PV_2002_03_25.pdf
I predicted, at the time that $30 Billion spent on a well designed government incentive program could get Photovoltaic energy to be cost effective in major power markets by 2015 and that, in 2010, the world manufacturing capacity for PV would be cranking out enough photovoltaic modules to replace the Energy equivalent of roughly 1 nuclear power plant per year (this takes into account capacity factor). As it turns out, in 2010 the world produced modules with the energy production capacity of 2 1/2 nuclear power plants, more than double my predictions which most thought were extremely optimistic. And we are on track to get to cost parity (unsubsidized) by around 2015 in some major markets such as CA and HI. Now the Chinese have committed $750 Billion for renewables over the next decade while we, in this country bicker over a hundred million here and $100 million there. The Chinese clearly have leaders that can do math and they understand that that investment over the next decade will enable them to totally dominate an industry that within a decade will be one of the largest, if not the largest, in the world. Time to WAKE UP America. We are about to get our butts kicked.
Copyright Clayton Handleman all rights reserved 2010