Thursday, January 03, 2008

Market Potential for Clean Energy

In an article for the business technology publication Red Herring, analysts provided enthusiastic forecasts for the clean energy tech sector and trumpeted some of the strong growth rates experienced in 2007.

Solar companies were the clean tech engines on the U.S. public markets. Shares of Phoenix, Arizona-based First Solar soared, ending the year up nearly tenfold to close at $267.14. San Jose, California-based SunPower rose 368 percent on the year, closing at $130.39 per share. And Wuxi, China-based Suntech climbed 240 percent, trading at $82.32 per share at the end of trading.

Projections for 2008 are looking bullish as well:

Mr. Pernick predicted 2008 would be a good year for energy storage, energy intelligence—such as smart grid technology—and advanced materials within the clean tech sector.