Most people think that there will be lots of jobs and energy coming online soon in the Alternative Energy Sector, but that really is not that case. Right now, many of these projects are having a very tough time of it, and some of these facilities may never actually be completed.
In fact, according to an in-depth article “A Solar Project’s Funding Freezes Up,” by Kerry A. Dolan in Forbes Asia Magazine July 13, 2009, it appears that the alternative energy sector is off to a pretty rocky start, and just because there is public support and public initiatives behind alternative energy in the end these are still businesses and subject to the whims of commercial credit markets, which have stopped flowing.
The global economic meltdown which was triggered by the subprime lending crash is the culprit, and yet, knowing the cause, surely does not solve the problems that are on-going. Many of the venture capitalists and investment bankers that put the money behind some of these huge alternative-energy projects are now watching their funds dry up and unable to secure more money to complete the projects.
This means the likelihood of them coming on line any time soon and generating electricity, and thus, generating a profit could be years away still; in some cases never. You see, such projects in the free market cannot wait for years to turn a profit. We watched many of the ethanol projects, and refineries go bankrupt last year, as well as many half completed projects that dot the Midwest producing no income and no fuel. Please consider all this.
