It’s not just hot air. Wind energy representatives are calling on lawmakers to pass legislation on an initiative that would help provide stable growth in the wind-energy industry and provide a strong tailwind for related exchange traded funds (ETFs).
Wind power industry executives are urging Congress to pass a strong national Renewable Electricity Standard (RES) as a way to save and create jobs in the wind-energy industry, according to REVE.
Denise Bode, CEO of American Wind Energy Association, commented that there is a “potential for explosive growth if we can get long term support. A national RES will result not just in new installations, but also in new manufacturing. The RES is the most important buy-American policy we can do.”
Ned Hall, Executive Vice President of AES Wind Generation, and Vic Abate, Vice Presdient for Renewables at GE Energy, both believe that a national RES will create long-term, stable demand in the United States.
In 2009, the U.S. added almost 10,000 megawatts of new wind power generating capacity, or enough to power 2.4 million homes.
For more information on wind energy, visit our wind category.
- First Trust Global Wind Energy (NYSEArca: FAN)
- PowerShares Global Wind Energy (NYSEArca: PWND)
- Market Vectors Global Alternative Energy (NYSEArca: GEX)
Max Chen contributed to this article.
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.