Wednesday, May 28, 2008

Wind power trumps nuclear

While much of the US economy continues to lag, there are a few bright spots. One is wind power. Wind power investment and production is booming globally. It shows how forward thinking and investment in new technologies can create economic growth while helping the environment. Firms and governments that ignore alternative energy and higher efficiency do so at their own peril in an increasingly globalized marketplace. It should also be noted that wind power investment is far cheaper than nuclear power, and brings a much faster return on investment. The typical nuclear power plant takes more than a decade to build. The first new batch of US plants will not come online until 2017 at the earliest, while other technologies can start paying dividends right now, at lower cost and with greatly reduced risk to the public. Here is a recent article on progress made in the wind power industry http://www.enn.com/energy/article/36949.