It’s no surprise that ninety-two percent of energy professionals think rising costs are driving more investment towards energy alternatives, reports ChangeWave Research in its latest survey findings. But as these investments accelerate, which alternatives are gaining the most momentum?
" Alternative Energy Trends " ChangeWave’s recent survey of 121 professionals working in the alternative energy industry uncovers a rapidly shifting landscape. Hybrid/Electric Vehicles will experience the greatest economic growth over the next two years,
but Solar Energy ranks second and has picked up the most momentum. Importantly, respondents believe five years out the strongest growth will be in Fuel Cells.
Focusing on the future, the ChangeWave survey looked at key alternative energy breakthroughs and how long it will take each of them to reach commercial viability. Here’s the outlook among
industry respondents:
Dramatic Expansion in Ethanol Production- 2011
Development of Highly Advanced Battery - 2012
Solar Cells Become Affordable Enough to be Commercially Viable - 2014
Development of Mass Produced Hydrogen-Fuel Cars - 2018
According to ChangeWave Technology Analyst Josh Levine, "This timeline reflects the challenges that lie ahead for competing alternative energy technologies " with ethanol and hydrogen fuels positioned at opposite ends of the time spectrum."
When it comes to barriers to adoption, three-in-ten industry respondents (30%) report the biggest one for the new technologies is still "energy prices aren’t high enough." (I don't know what they consider high enough, but I for one thought they were to high in 2006!, and started implementing solar energy systems) But they also believe that ever-increasing energy costs are driving more investment into alternative energy in 2008.
With respect to government involvement, nearly half of industry respondents think the government should provide long-term incentives and tough industry standards to encourage rapid development of
sustainable alternative energy sources.
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