Oct. 31, 2011: Despite Sluggish Economy, Renewable Energy Shows Growth in 2011
WASHINGTON — At the American Council On Renewable Energy’s (ACORE’s) annual RETECH Trade Show and Conference, industry leaders noted that the renewable energy sector has shown surprising growth for 2011. In the first half of the year, 2,151 MW of newly installed wind power and 582 MW of solar power were added to the nation’s power supply, officials said.
“Renewable energy is increasingly competitive with traditional sources of energy and a growing source of grid power,” said Vice Admiral (Ret.) Dennis V. McGinn, president of ACORE. “Thirty-three percent of all new power in 2010 was generated by renewable energy resources. A combination of economics and policy is driving U.S. market growth. However, to sustain this momentum, we need long-term consistency in government policy. We are no different from other industries — renewable energy investors need policy consistency. The U.S. economy, and American industry and workers, will be the beneficiaries of stable policy.”