WASHINGTON, March 25 /PRNewswire/ -- Amid a challenging economic outlook,
clean energy shows no signs of a slowdown in 2008. According to Clean Edge
which has tracked the sector since 2000, revenue growth in the four benchmark
clean energy industries -- wind, solar, bio-fuels and fuel cells -- is up 40%
and predicted to triple over the next decade to an astonishing $254 billion.
All the growth has meant that investment capital has poured into the
sector -- with clean energy stocks easily outpacing the broader markets. The
NASDAQ's "Clean Edge" index was up 66.67 percent last year, compared to just
3.53 percent for the S&P 500 and 9.81 percent for the NASDAQ Composite.
But as spectacular as overall clean energy index returns have been
lately -- wind and solar companies in particular have fared even better.
Shares of Emcore Corp. (Nasdaq: EMKR) climbed after Jeffries & Co analyst John
Lau issued an upbeat opinion about the company's solar-power business
expansion. Demand for photovoltaic panels used to generate solar power is at
record levels and analysts at Bank of America are recommending Suntech Power
(NYSE: STP), one of the industry's largest manufacturers.
Wind energy companies are also reaping the benefits of the clean power
surge. CNBC guest analyst Francis Gaskins just published a new higher
$4.00 target on NACEL Energy (OTC Bulletin Board: NCEN). NACEL Energy shares
have jumped more than 60% since their IPO December 10th 2007. The Company
develops utility class wind turbine power projects, such as its recently
announced Blue Creek 20-megawatt facility north of Amarillo, TX.
San Francisco based Clean Edge, Inc. provides industry intelligence and
insight into the clean energy sector. The Company sponsors the NASDAQ "Clean
Edge" index and publishes the annual Clean Energy Trends report which was
referenced for this update.
A Before the Bell(TM) renewable energy update.
SOURCE Before the Bell