Of all the 52 states within the United States, which ones are leading the crusade for alternative energy sources, and in the best position to help related investments and exchange traded funds (ETFs) prosper?
Texas appears the be the leader when it comes to wind power, however, Iowa is blowing out the competition past California, generating the most wind energy. According to Dirk Lammers for Associated Press, The Lone Star state’s 7,118 megawatts dwarfs Iowa’s 2,791 megawatts and California’s 2,517 megawatts, but wind power has grown into a key part of the energy infrastructure in Minnesota and Iowa.
Each state generates more than 7% of energy from wind turbines, and many of them are trying to lure energy companies and create a job market to support the alternative energy industry within their borders. Jobs in this industry have jumped 70% to 85,000 since 2008, but there is much more work needed so ensure that this progress does not go by the wayside.
Meanwhile, shares within this industry took a beating in this market, as companies devoted solely to clean energy fell to about $100 million from $2.1 billion, according to New Energy Finance, an industry-research firm.
Green energy investing is an area that’s growing rapidly, though. David Hoffman for Investment News notes that investment offerings seen as environmentally friendly saw their assets grow 640% from 2001 until last year.
- PowerShares Global Wind Energy (PWND): down 0.5% year-to-date
- First Trust Global Wind Energy (FAN): down 3.1% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.