2010 was a record year for green energy investments. According to a report from Bloomberg New Energy Finance, nearly US $243 billion was invested in wind farms, solar power, electric cars, and other alternative technologies worldwide, representing a 30 percent increase from 2009 and nearly five times the money invested in 2004. China had $51.1 billion investment in clean energy projects in 2010, by far the largest figure for any country.
The advantage of this approach in the United States is that many states offer incentives to offset the cost of installation of a renewable energy system. In California, Massachusetts and several other U.S. states, a new approach to community energy supply called Community Choice Aggregation has provided communities with the means to solicit a competitive electricity supplier and use municipal revenue bonds to finance development of local green energy resources. Individuals are usually assured that the electricity they are using is actually produced from a green energy source that they control. Once the system is paid for, the owner of a renewable energy system will be producing their own renewable electricity for essentially no cost and can sell the excess to the local utility at a profit.
A typical house usually requires a home wind turbine with a 5 kW generating capacity to meet all its energy requirements. A turbine that offers this much power would have to be around 13 to 18 feet in diameter and positioned in an area where strong winds often pass through. There are also plenty of smaller, cheaper turbines, but these variants produce less power and are less reliable than their more expensive counterparts.
We harness the earth’s most abundant resources – the strength of the wind, the heat of the sun and the force of water – to power the world’s biggest economies and the most remote communities. Combining onshore and offshore wind, hydro and innovative technologies, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner.
In 2007, the world's first turbine to create commercial amounts of energy using tidal power was installed in the narrows of Strangford Lough in Ireland. The 1.2 MW underwater tidal electricity generator takes advantage of the fast tidal flow in the lough which can be up to 4m/s. Although the generator is powerful enough to power up to a thousand homes, the turbine has a minimal environmental impact, as it is almost entirely submerged, and the rotors turn slowly enough that they pose no danger to wildlife.
Vertical-axis wind turbines (or VAWTs) have the main rotor shaft arranged vertically. One advantage of this arrangement is that the turbine does not need to be pointed into the wind to be effective, which is an advantage on a site where the wind direction is highly variable. It is also an advantage when the turbine is integrated into a building because it is inherently less steerable. Also, the generator and gearbox can be placed near the ground, using a direct drive from the rotor assembly to the ground-based gearbox, improving accessibility for maintenance. However, these designs produce much less energy averaged over time, which is a major drawback.