26 Nov '11, 7pm

Renewable Power Finally Passes Fossil Fuels

The renewables boom, spurred by about $66 billion of subsidies last year, intensified competition between wind- turbine and solar-panel manufacturers, gutting margins from the biggest producers led by Vestas Wind Systems A/S and First Solar Inc. The 95-member WilderHill New Energy Index of renewable- energy stocks has tumbled 40 percent this year, steeper than the 14 percent drop in the MSCI World Index…. The wind-energy industry is now more focused on the “sometimes bewildering variety of domestic and regional policies” than on the UN negotiations as a source of impetus for growth, said Steve Sawyer, secretary-general of the Brussels-based Global Wind Energy Council. As well as renewables spending exceeding that on new fossil plants, last year also was the first time expenditure in developing countries, mainly China, exceeded that in the industrialized world, Sawyer said,...

Full article: http://www.solarfeeds.com/renewable-power-finally-passes-...

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