Smart Grid, Cleantech & Green Chips
It was yet another good week for cleantech in the United States, with President dedicating US$3.4 billion to further advancing smart grid development and with bullish news coming from the financial realms, according to Green Chip Review Editor Nick Hodge.
On Tuesday, the President made the largest single Recovery Act announcement to date, dedicating $3.4 billion to further advancing smart grid development. The money — paid in grants of up to $200 million each — will go to pay for as many as 18 million smart meters across the country.
That announcement sent many smart grid stocks to one-day, double-digit gains. It also foreshadowed great earnings in the same sector. . . Seemingly on cue, Enersys (NYSE: ENS), Itron (NASDAQ: ITRI), and American Superconductor (NASDAQ: AMSC) all released positive earnings reports this week. The latter climbed over 20% in one day!
And the good news didn’t stop there, as cleantech continued to prove it can combat recession, create jobs, and stoke portfolios. . .
German solar firm SMA Solar Technology announced it is opening a $22 million factory in Colorado. Fisker Automotive announced plans for spending $528 million to overhaul an automotive manufacturing plant it bought from the now-bankrupt GM as part of a stimulus-funded deal.
In fact, the results of cleantech funding have been so fruitful that Obama signed another spending bill into law this week — a bill that will push another $33.5 billion into everything from solar research to energy efficiency and flood control.
Just hours later, Obama’s signing was followed by a Reuters report stating that solar executives from Suntech, Sharp, and BP are “bullish on 2010.” According to the report, “Executives cited various forces that could drive growth in 2010, including U.S. stimulus funds for green projects, extended tax incentives and new financing.”
Of course, we’ll be ready to capitalize on that bullishness as it plays out.
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Smart Grid Development: $3.4 Billion for Smart Grid Development
Nick Hodge is a regular contributor to Green Chip Review and Energy & Capital.
One of the bright young minds in today’s cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways. . .
He’s the Managing Editor of Alternative Energy Speculator, an investment advisory service focused on taking advantage of every aspect of cleaner energy, from the stop-gap companies that are making a fortune lowering carbon emissions to makers of more fuel efficient engines and other technologies that will help the U.S. successfully build a bridge from current fuel to the energy of the future.
Nick also runs Green Chip International, which is dedicated to giving you the sharpest insight, not just into clean technology trends but also the geopolitical context that makes markets move.
A featured guest on Canada’s Business News Network and Yahoo!’s Tech Ticker, Nick is also very interested in uncovering the massive profit opportunities associated with a growing lack of freshwater and the maturation of the global carbon markets.
Nick is also the co-author of the bestselling book, Investing in Renewable Energy: Making Money on Green Chip Stocks.
Source: www.greenchipstocks.com