As crude oil continues to stay above the $70/barrel range, some are starting to revisit the renewable and alternative energy arenas, but what effect is it having on the sector and its exchange traded funds (ETFs)?
One such form of renewable energy gaining some additional attention is wind energy. One reason it is drawing the attention is that it is the largest highly concentrated form of renewable energy on Earth and has the potential to power all civilization. A second reason is the efficiency of this form of energy. It requires a relatively little area per person to generate energy, states Katie Howell for The New York Times.
Unfortunately, it isn’t all sunshine and smiles on the wind energy platform. Some obstacles that need to be overcome include the reliability of wind power. Jet streams are more reliable than winds on the ground, but they don’t provide as reliable an energy source as coal-fired power plants. There are a handful of start-ups working to harness those high-altitude winds, though.
Regardless, most scientists remain fairly optimistic of the future of wind energy and predict that eventually, the technologies will be there within a decade.