In 2005, electricity produced from power plants totaled 17,320 terawatt-hours (TWh). In 2030, we are expected to require about 33,254 terawatt-hours, nearly double the amount of 2005. We need massive amounts of solar power…and we need it quickly.

Even though the amount of solar energy that strikes the surface of the Earth in one hour, is enough to power the entire Earth for one year, we still need a way to efficiently utilize what we can capture.

A company called Cool Earth has developed an amazing technology that they hope will soon be producing solar energy at prices competitive with the fossil fuel plants of today. Of course the main advantage is the fact that the energy from these plants will be clean, solar power.

The patented technology that has been developed is called concentrated photovoltaic (CPV) technology, and the time and cost to develop very large scale plants using this technology have been greatly reduced.

Most of the solar products today use a flat format, or boxes-with-lenses and require large amounts of heavy, expensive materials. Cool Earth’s CPV design however, is actually a balloon-shaped, inflatable design that uses very inexpensive, or even free materials. Not only is the construction costs greatly reduced, but the time to deploy a working power plant is also greatly reduced. Read the rest of this entry

One of the most frequent questions I hear at Green Products is, “How do we pay for the new green technology?” It may not be as hard as you think! Let’s break it down into some of the incentives offered to you.

First, how is the seller/manufacturer of green products affected during a downturn? Businesses that produce alternative energy/green products are facing the same (if not more) pressure than the average consumer. This means that most alternative energy businesses will be more willing than ever to negotiate price, and may have discounts or incentives in place.

Second, what effect has the American Recovery and Re-investment Act of 2009 had on renewable energy? One area of focus covered by the new law is renewable energy and the development of new technologies and green products. It improves the 2008 tax credit already in place and removes “cost caps”.

It works this way: After you install the system, the IRS will allow you to deduct 30% of the total cost of product and installation costs from your next tax bill with no stated limit. This also means you can install multiple units or a combination of energy products. For example, a solar array and a windmill to supply energy to your home or business.

Third – what about your energy cost savings? Spending money on green products during this time may make more sense than you think. With businesses willing to negotiate, tax credits and a reduction in your energy costs, you are putting money in the bank over the long haul. If you plan well, your investment could pay for itself in months, not years.

At last count, 30+ states offer tax incentives, rebates and cash-back programs. The cash back programs require the utilities to reimburse you when you generate more electricity than you use.

With this in mind everybody wins; you win by saving money and reducing our dependence on foreign oil; the businesses win by producing and selling green products and the economy wins by helping to keep people employed.

Michael