A New Bull Market is Coming in Wind Power – Here’s How To Profit
Jun 25th, 2009 | By Ted Peroulakis | Category: Featured, Oil Investment & Alternative EnergyWind power is the conversion of wind energy into electricity using turbines. Wind is gaining worldwide popularity as a large scale clean energy source. Currently, wind power provides only 1.5% of global energy consumption. But the potential for growth is astonishing.
Theoretically, the wind power available in the atmosphere is much greater than current world energy consumption, so the growth prospects are virtually unlimited. Generous government subsidies and lower wind turbine prices will open a new bull market in wind stocks.
The global wind energy industry has seen record breaking growth over the last few years and is now used in more than 70 countries, with the U.S. and China leading the way.
Wind power is already cost-effective and the cost is expected to go down over time as the technology for turbines becomes cheaper and more efficient. Plus, wind power produces no air pollution and can help meet growing energy demand without increasing fossil fuel consumption.
Wind energy cost a fifth of what it did in the 1980s, and I expect that downward trend to continue as larger multi-megawatt turbines are mass-produced. The biggest turbines can already produce enough power for 5,000 households. The 7+ megawatt Enercon E-126 is pictured below:
Last Tuesday, President Obama said he wants to promote clean energy sources like wind power and gave his full endorsement to pending energy and climate change legislation.
As a long-term play, I recommend the exchange-traded fund, First Trust Global Wind Energy (FAN). This ETF tracks the ISE Global Wind Energy index and holds companies that provide goods and services to the wind energy industry, like Gamesa, Vestas and Broadwind Energy.
Source: A New Bull Market is Coming in Wind Power – Here’s How To Profit
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Ted Peroulakis, MBA graduated from Florida State University and received a Bachelor of Science in Finance. He has also earned his MBA from the University of Miami. Ted has over 14 years of experience in the financial industry and he is a top performing options trader and financial analyst. He was trained in the World Trade Center by Morgan Stanley Dean Witter and gained financial market experience as a stock broker on Wall Street. Ted is a contributor to the Investor’s Daily Edge.
