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Starting a Business in the Emerging Green Energy Market
Published on Mar 8, 2011
Read 'Starting a Business in the Emerging Green Energy Market' at 'Time to Start Up,' the small business blog by BizFilings.
As prices at the pump once again begin to soar, and new financial or social factors motivate businesses and consumers to rethink their carbon footprints, there is a growing economic incentive to "go green."
President Barack Obama, for example, has called upon the U.S. to acquire 80 percent of its energy from renewable sources by 2035. The state of California has passed an even more direct measure, requiring state utilities to achieve a third of its power from clean technologies by 2020.
Other states have launched similar campaigns, providing green tech entrepreneurs with new incentives and rising demand to launch a clean energy business.
"From transportation to housing to lighting, energy alternatives and conservation are all the rage," writes Sharon King Hoge for Entrepreneur magazine. "Although the oil and gas shortages in the 1970s failed to squelch the conventional internal combustion engine, the automobile industry is finally getting the message, seeking engineers to think up new automotive power systems, designs and better ways to get around."
Meanwhile, new energy technologies such as wind and, in particular, solar are creating new jobs and promoting a new generation of tech-minded inventors, investors and, most importantly, entrepreneurs. While it may take some time for green energy business filings to make a serious impact, the most important element - the economic incentive - is taking hold.