The encouragement from the consumers around world over for renewable energy sources is enormous. In the history of business there was never such backing received for any enterprise before. Consumers are ready to pay higher price for a new technology which is eco-friendly. They have realized that without their support no renewable energy enterprise is going to thrive. They believe this action of theirs is a kind of solidarity to those who are taking initiatives in this front. Thereby, conscientiously assuring them that, they too are a part of the fight against global warming.
First Solar Inc. is an American based company that makes modules used in solar panels. Its third quarter profit was up by 10 times to a whopping $46 million. The demand for solar equipment is growing at an annual rate of 40% in US alone. Recently Google Inc. announced that it would spend a huge amount of money to develop alternative forms of energy such as solar power. The growth story of solar panels in other parts of the world is not different from the US. Governments also contributed by providing subsidies and low interest loans with longer pay back terms for renewable energy start ups.
The First Solar’s extra-ordinary performance has taken their total market value to $17 billion making it not very far behind the $23 billion NYSE Euronext, which owns the world’s largest stock exchange and one of the hot stocks of this year. Q-Cells AG of Germany, a big player in solar energy in the world too amassed $50 million in its third quarter and forecasts sales close to 2 billion Euros by 2009. Besides, Germany has walked an extra mile to ensure that some energy is generated through even off-shore wind turbines. The demand for renewable energy sources has opened up new avenues for investments too. The expectations are very high to find a viable alternative to fight global warming and the oil prices. We are reaching out to nature once again with new vigor and vitality, with symbiotic approach this time around for our energy needs.