A report from a major financial institution says the economic future of wind, solar, geothermal power, and biofuels looks very bright.
This story from the GroovyGreen.com web site has more details:
U.S. Bank Morgan Stanley has estimated that global sales from clean energy sources such as wind, solar and geothermal power and biofuels could grow to as much as $1 trillion a year by 2030. In the meantime, the market may hit $505 billion in sales by 2020 — almost 9 times the level in 2005. Not a bad idea to invest, right?
Well, maybe. While it’s a sure bet that renewable energy will grow in percentage sales of global energy sources; there’s no telling how rapid or sustained such growth might be. Morgan Stanley was clear to indicate that current numbers are based on bullish investments, the rising value of oil, and current worldwide concerns over global warming. A change in any number of these factors could affect the industry.
“The bank was particularly bullish on solar power. Market penetration of solar in electricity generation could rise from levels almost too small to measure in 2005 to 11.2 percent in 2030, while wind power could go from 0.9 percent to 9.6 percent by 2030, it said.
The article goes on to says that the cost of solar power would go from the current $8 per Gigawatt installed to just $1.60 by 2030. Market penetration for ethanol and biodiesel could go from about 1 percent now to 21 percent by 2030… if vehicle fuel efficiency for cars continues to climb.
It seems even entertainers can’t escape the momentum behind the growing renewable and alternative energy movement. Singer-songwriter 
The biggest news for the “Great Race” organizers so far is the prospect of 
Next year, marks the 100th anniversary of the 1908 New York to Paris 
This is the first in a series of MPG Challenges, created in partnership with Hybridfest, Inc., organizers of the nation’s largest hybrid car festival. Bill Ewing, chief executive officer of 
By a 7-2 vote, the Chesapeake, Virginia city council has given the green light to what will be the nation’s largest biodiesel plant.
[T]he researchers say the study’s true motivation was to identify developing countries that already export significant amounts of vegetable oil for profit, but may not have considered refining it into biodiesel. By exporting biodiesel – a higher value commodity – these countries could improve their trade balances, says Johnston, or use the fuel to offset their own energy needs.
While we’ve been listening to people talking about when someone will build a commercially viable cellulosic ethanol production plant one company has actually gone ahead and done it. That’s what 
One of the sponsors for the Cellulosic Ethanol Summit and Domestic Fuel coverage of it is the