Alternative energy is thrown on the table whenever there are concerns about energy addiction or global warming. Cleantech exchange traded funds (ETFs) have been on the back burner through most of the global credit crisis, and are now re-surfacing as technologies are advancing.
A large-scale energy overhaul that would make-over the nation’s energy infrastructure would utilize the latest technologies in cleantech and alternative energy. Benjamin Sheperd for Investing Daily reports that for alternative energy to make a meaningful contribution to the U.S. consumption mix, huge installations would need to be built in remote areas of the country. [Why Coming Clean With ETFs is Important.]
The main problem that the cleantech industry faces in the United States is we lag countries like China and Germany when it comes to manufacturing equipment for solar energy, biofuels, fuel cells, water remediation and renewable power generation. Right now, the United States is in a fierce competition to develop companies to generate and use energy more efficiently and cheaply, says Jack Crawford for The San Francisco Chronicle.
Any way you slice it, there’s room for growth in this sector. As far as we’ve come, there’s still a long way to go.
For more stories about cleantech, visit our cleantech category.
- Rob Bellis for The Leader reports that one of the large-scale projects in the pipeline is one of Europe’s biggest offshore wind farms, off the coast of Llandudno, the construction of which is due to begin at the end of next year. Based in the UK, the 160 turbine Gwynt y Mor project, set for completion in 2014, should provide energy for 400,000 homes each year.
- Keith Shcneider for The New York Times reports that on July 15, the president flew to this small city on the shore of Lake Michigan to attend the groundbreaking for a $303 million, 650,000 square-foot battery plant operated by Copact Power, a subsidiary of LG Chem, a Korean company. This is one of the effects of the stimulus bill in action. [How the Clean Energy Bill Can Affect ETFs.]
Cleantech plays with ETFs:
- PowerShares Cleantech Portfolio (NYSEArca: PZD)
- iShares S&P Global Clean Energy Index Fund (NYSEArca: ICLN)
- Market Vectors Global Alternative Energy (NYSEArca: GEX)
Tisha Guerrero 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.