How to Stimulate New Energy

April 29 2009, 10:49 AM
chu-stevenThe situation has changed for the National Renewable Energy Laboratory in Golden, where Energy Secretary Steven Chu (pictured) is set to announce that the lab will receive millions of dollars for wind-power research, according to The Denver Post, which writes that only a month ago Chu's department had said NREL wouldn't benefit substantially from President Barack Obama's $787 billion economic stimulus package. Though the exact amount has yet to be released, Democratic Governor Bill Ritter is touting the infusion as "key" to Colorado's hopeful "new-energy economy." Several officials will be on hand for Chu's visit, according to the Denver Business Journal. Meanwhile, BusinessWeek notes, a "lot is riding" on Obama's roughly $80 billion in incentives by 2010 to hasten investment in wind farms, solar parks, and other such projects, making companies like Denmark's Vestas, which makes windmills, in vogue. Vestas is predicting its revenues will rise 20 percent this year, to $9.5 billion, with much of the growth probably coming from U.S. activities, including plants in Colorado. Some naysayers doubt such high-paced growth is possible.