2009 will be a good time to invest in green energy, says consultancy

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2009 will be a good time to invest in green energy, says consultancyDespite falling profits and stronger competition in some green energy sectors, this year may provide good opportunities for investors to buy the industry’s stocks.

Among the favorable factors that are likely to spur new growth for the renewable energy industry are lower raw materials and equipment prices, according to Frost & Sullivan, a market research firm.

The researchers also stress that it is unlikely we will experience a repeat of the situation in the 1970s and 1980s when investments in renewable energy ceased after oil prices fell.

That is because oil prices might still go up due to increasing production costs fuelled by high demand from developing nations, says Alina Bakhareva, green energy research manager at Frost & Sullivan.

In addition to that, "[R]enewable energy is much more mature than it was thirty years ago and is able to deliver power at nearly the same cost as conventional power sources," she says.

The research also highlights the commitment of governments around the world to curbing carbon dioxide emissions and suggests renewable energy is a major tool that will help achieve this goal.

Additional stimulus for the industry may come from the recently passed economic stimulus package which provides funds for some 90 renewable energy and energy efficiency initiatives contained in legislation passed by Congress in 2005 and 2007.

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