I think the only word annoying me more than “recession” right now is “change.” Change is on the horizon. Change starts within. Can you spare some change. Really, it’s everywhere. It’s a favorite of U.S. President Obama’s, and since his campaign, it’s become a buzz word so buzzy it flies around my head until all I want to do is swat it. We hear it, alright. But are we seeing it?
In the days immediately before and after the current president’s election, stocks in solar energy were gaining momentum. Ever since, however, they’ve declined. Rapidly. Which is strange to think because, well, weren’t we promised a greener, more energy efficient future? So why isn’t this reflected in the prosperity and demand of companies that manufacture and sell solar energy products? Ascent Solar, a U.S. company that provides high efficiency solar products, saw their stock prices rise above $25 at the beginning of this year only to fall to their current stature of $4. A laundry list of solar product companies are facing similar declines in their stock values, and it seems that the price of the stocks is in fact an economic issue, with multi-pronged causes and effects.
Not so long ago, production of solar goods was increased in order to meet consumer demand. But, like so many others, solar companies relied on loans to complete solar projects – a story anyone can predict the ending to. Also, solar energy’s value is often linked to the prices of oil and natural gas, which have been dropping considerably since the summer.
Obama’s lofty goal of generating 25% of the country’s energy from renewable sources by 2025 is a fine one. But with the effects of the current economic climate likely to ripple outward for years, it may take a financial rejuvenation of speedy and unrealistic proportions to achieve a renewable grid by that time.
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indeed. the recession could well hit the renewable industry. just watching the news and the EU have given in to Polands demands of carrying on with their open cast mines because of their ailing economy. Poland gets 93% of its energy from these monstrosities. It makes a mockery of the EU’s so called green stance.