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Who's Winning the Race toward Energy Alternatives?

May 11, 2006

Via PRWeb

Columbus, Ohio -- It's no surprise that ninety-two percent of energy professionals think rising costs are driving more investment towards energy alternatives, reports ChangeWave Research in its latest survey findings. But as these investments accelerate, which alternatives are gaining the most momentum?

ChangeWave's recent survey of 121 professionals working in the alternative energy industry uncovers a rapidly shifting landscape. Hybrid/Electric Vehicles will experience the greatest economic growth over the next two years, but Solar Energy ranks second and has picked up the most momentum. Importantly, respondents believe five years out the strongest growth will be in Fuel Cells.

The complete findings of ChangeWave's latest Alternative Energy Trends Report are available through online content provider, ECNext.

Focusing on the future, the ChangeWave survey looked at key alternative energy breakthroughs and how long it will take each of them to reach commercial viability. Here's the outlook among industry respondents:

• Dramatic Expansion in Ethanol Production – 2011


• Development of Highly Advanced Battery – 2012


• Solar Cells Become Affordable Enough to be Commercially Viable – 2014


• Development of Mass Produced Hydrogen-Fuel Cars – 2018

According to ChangeWave Technology Analyst Josh Levine, "This timeline reflects the challenges that lie ahead for competing alternative energy technologies – with ethanol and hydrogen fuels positioned at opposite ends of the time spectrum."

When it comes to barriers to adoption, three-in-ten industry respondents (30%) report the biggest one for the new technologies is still "energy prices aren't high enough." But they also believe that ever-increasing energy costs are driving more investment into alternative energy in 2006.

With respect to government involvement, nearly half of industry respondents think the government should provide long-term incentives and tough industry standards to encourage rapid development of sustainable alternative energy sources.

You can access the complete ChangeWave Report, "Alternative Energy Trends" at http://changewaveresearch.ecnext.com/coms2/summary_0272-1625_ITM