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Moving Towards a Smart Energy Society
Consumer Driven Renewables Surge as Solar Technology Innovation Provides for
Seamless Integration.
By Ann-Marie Fleming,
www.RenewableEnergyStocks.com
August 2005
As renewable energy technology provides for seamless integration into
people’s daily lives, providing cost effective means of improving efficiency
without sacrificing aesthetics, the market for renewables has escalated to
new heights.
In the past, solar technology has had to overcome problems with their bulky
and mainly unattractive appearance, which despite proven efficiencies faced
adoption difficulties. While other factors have played a role in the rise of
renewable energy, a significant driver to its success has come from the
ability to integrate and blend technology into structures tastefully, with
little interruption in the daily routine of the building’s residents, owners
and caretakers.
Current technologies such as Building Integrated Photovoltaics, which
incorporate photovoltaic material into the building itself i.e. walls, roof,
and glass, have developed into products that are not only pleasing to the
eye, but that also require very little in the way of maintenance costs or
efforts as it increases energy production and efficiency. This lack of
disruption and the encouraging aesthetic appeal provided through products
within the BIPV umbrella, have driven the industry adoption levels forward.
“How we apply the use of solar cell technology, may, in many ways, provide
more value and return than simply striving to improve efficiencies alone. In
other words, the greatest efficiency gains and immediate benefits may lie in
how and where we use solar technologies and how these applications promote
wide scale use and adoption,” stated Tom Djokovich, XsunX’s CEO. “Allowing
the production of solar electricity to become part of our environment as a
natural use of space utilizing building materials integrated with PV
technologies, makes more sense in how we use our environments to draw the
most from them. There’s a growing consensus that the use of BIPV
technologies may provide the greatest opportunity for rapid and wide scale
adoption of solar technologies, leading to overall market growth in PV.”
Large industry players such as General Electric have embraced BIPV
technology in both the commercial and residential arenas as a viable revenue
source. “BIPV is an integral part of our strategy. Our 55 watt Roof
Integrated product is a perfect example of one that is designed to be
aesthetically pleasing while at the same time functional and easy to install
on flat tiled roofing systems. We are also looking at other designs that
incorporate architectural features with solar module design. Customer needs
are extensively evaluated to ensure these are met with any new BIPV
offering.” explains Ali Iz, GE Energy.
BIPV’s practical application has helped this technology to grow in
popularity as the solar of choice for both new and existing homes and
buildings. As Justin Malley, Associate Editor of Alternative Energy Retailer
magazine
explains, “BIPV’s main advantage over traditional PV is that it serves as a
functioning part of a building’s envelope (or skin) while also producing
energy through PV technology. Because of this dual nature, BIPV applications
– although more expensive upfront – win out over PV in the cost department
because they replace conventional building components that would be there
anyway.”
Key government incentives have also played a significant role in boosting
the acceptance of renewable technologies and in particular solar products
with both consumers and businesses. California is one of the states leading
the charge towards energy efficiency. The Californian government is working
to increase the value for consumers and the demand for manufacturers through
benefits such as making the installation of solar in homes property tax
exempt. Dean Marks, President of Premier Power Renewable Energy Inc.
explains, “On the residential side it will add value to your home according
to the American Appraisal Journal. After every $1,000 in reduction in your
utility bill, it will add $20,000 to the value of your home offsetting part
of the costs, rebates and the State’s 7.5% tax credit helping to offset
another portion. In addition to having the government covering almost 50% of
the costs to the system, these systems normally generate a 10-12 year
payback period, but can last 30-40 years, providing consumers with a
significant number of years with free energy.”
On the commercial side additional benefits are anticipated to lead to a
strong global sector, “In the USA, accelerated 5 year depreciation, state
incentives and the new federal energy legislation will help to stimulate
demand for solar energy”, states Iz.
In a recent Yale University study, 92% of those surveyed expressed concern
over the Nation’s dependence on foreign oil, approximately 90% support solar
and wind power as alternative energy sources and 86% illustrated a desire
for increased government funding in the renewables arena. This survey
supports the belief that consumers, in part, are a driving force behind the
rising demand for renewable energy. Hillary Clinton commented on the Yale
survey in her speech to the Aspen Institute, where she put forth her belief
that the American people are ahead of policy makers in Washington.
Ann-Marie Fleming
Ann-Marie
Fleming
completed her MBA in the United States, where she attended Webster
University. She also holds an Honors B.A from the University
of Toronto. She has over fifteen years of experience spanning the
brokerage, banking, and mortgage industries within the United States
and Canada.
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©Copyright InvestorIdeas 2005
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