The renewable energy market is evolving in the US with respect to the impact of the Energy Policy Act of 2005. While concerns are increasing over how long global oil supplies will match consumer needs, the pathway is widening for companies offering technological and environmental solutions. With increasing support from a Federal level and individual States increasing their incentives for energy saving products, companies already establishing themselves in this sector are also in a position to expand their product lines and reach into new areas being promoted at a government level. SunPower Corporation (NASDAQ: SPWR), Alchemy Enterprises Ltd. (OTCBB: ACHM), Encore Clean Energy Inc. (OTCBB: ECLNE) and Honda Motor Co. Ltd. (NYSE: HMC) discuss their vision on technology, innovation and market drivers in the changing energy sector.
Encore Clean Energy Inc. (OTCBB: ECLNE) company Director Larry Shultz has said that their company’s product, the Magnetic Piston Generator is a, “heat recovery technology which converts waste heat into electricity. This technology, looking forward, is really the key to our thrust into the clean energy marketplace because what most people don’t know is that for every mega watt of electricity generated in the United States, more than a mega watt of heat goes up in smoke, either up a smoke stack or through a cooling tower.” Further he said that, “American industry is very inefficient where all of that heat is wasted. So what the MPG technology does is it converts that wasted heat into electricity whereby we can continue to harness up to 20% of that wasted energy.”
According to Julie Blunden, Vice President of External Affairs for SunPower Corporation (NASDAQ: SPWR), “we think that SunPower’s growth is a good example of how public policy is helping to drive capital investment as well as technology advances. Our investors and suppliers see that the solar power market is growing rapidly in the U.S. and around the world and have supported our growth to meet that demand. Within the next decade, solar will be at a price parity with retail electricity rates in much of the developed world, offering SunPower access to the trillion dollar global electric market.”
Distributed Energy Systems Corporation (NASDAQ: DESC) President and Director Walter Schroeder says that, “innovators of energy sustainability fall into three distinct categories: manufacturers, developers or integrators.” Further to this he reveals, ”the states that are doing the most are California (who are way out ahead), New York and New Jersey. Connecticut and Massachusetts get honorable mention.”
Commenting on the position of Alchemy Enterprises Ltd., Jonathan Read, President and CEO stated that, “as we are the producers of a power source, we’re reliant on our customer to work with the states on end-user tax credits. We are actively working to position ourselves for Federal tax credits and or grants as it relates to alternative energy.” Talking about government incentives, Read explains, “there are two tiers of state and Federal tax incentives. The first is for the producer of alternative energy technologies and the second tier involves provisions and tax incentives for end users (ie. motorists), which we would partner with once our technology is fully fleshed out and proven.”
As the market grows, we are seeing companies such as Honda Motor Co. Ltd. (NYSE: HMC) expanding their range of services, with the launch of a compact household cogeneration unit, which combines “the world’s smallest natural gas engine-with an efficiency configured, compact, lightweight power generation system employing Honda’s unique sine-wave inverter technology to create a compact unit suitable for residential use, boasting an energy efficiency of 85%.”
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