Wind Stocks Gain Attention as US and China Boost Alternative Energy Market
Wind Stocks are starting to gain more attention from investors as both China and the United States have begun placing more emphasis on Alternative Energy. These days, fossil fuels are considered dirty and dangerous and are on their way out with renewable energy on its way in. The Bedford Report examines the Alternative Energy Market and provides research reports on American Superconductor Corporation (NASDAQ: AMSC) and A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR).
The Obama administration is seeking to boost the use of wind power and has begun to take steps to speed up the approval process for offshore wind energy leases. The Administration argues that renewable energy represents both a means to reduce reliance on petroleum as well as a way to boost American manufacturing and jobs. According to the American Wind Energy Association, wind is about a quarter the cost of solar power. Back in 2008, the AWEA estimates Wind-power projects created 35,000 new jobs.
The Bedford Report releases regular market updates on the Alternative Energy Market so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns.
Presently China is the largest wind power market in the world as the nation presses towards its 2020 goal of generating 15 percent of the its total energy consumption by alternatives to fossil fuel. In 2010, China increased its total wind power capacity to 41.8 GW, up 62 percent from the previous year.
Unfortunately, American Superconductor has been unable to benefit from China's wind energy boom. Earlier this spring the company announced that its primary customer, China's Sinovel Wind Group refused to accept contracted shipments of 1.5 MW and 3 MW wind turbine core electrical components and spare parts.
