Solar
The solar power market continues to grow in 2009, both in installed capacity and production, although it was constrained by a worldwide shortage of silicon.
Nevertheless, the solar market is still growing at more than 30% a year.
Solar power harnesses the sun¡¯s energy to make clean electricity. Its value to the consumer depends on many factors such as geography and local policies, including the terms for selling surplus power back to the grid. Many consumers, however, are realizing that solar power represents an economical and intelligent way to cut energy costs, reduce their exposure to rising utility prices and help safeguard the environment.
Nexsun¡¯s solar opportunities are rapidly expanding. We continue to expand our strategic partnerships and welcome the opportunity to explore new opportunities within this exciting business segment.
Wind
Around the world, wind power is growing fast, with an increase of over 30% in installed capacity in 2008. Over 20,000 megawatts (MW) of wind power was installed in 2008, bringing world-wide installed capacity to around 95,000MW. The Global Wind Energy Council is predicting the global wind market will grow by over 150% from its current size to reach 250GW of total installed capacity by the year 2012. Figures are from the Global Wind 2007 Report published by the GWEC.
Wind farms can provide safe, clean and affordable power. What¡¯s more, in areas with good wind conditions, onshore wind power can actually cost less than conventional power generation. However, to make the most of wind power, businesses and governments need to work together to build capacity in areas where the wind blows strongly, such as the Great Plains in the US. These projects, in turn, need to be connected to population centers by power lines.
Nexsun intends to grow its wind business rapidly to become a leading developer and continue to explore new opportunities within this exciting business segment.
Hydrogen
Hydrogen power is a new and exciting concept. Hydrogen power could revolutionize the world of electricity generation.
A new generation of power stations will use hydrocarbon feedstocks such as coal, natural gas or petroleum coke (a by-product of refining oil), processing them into hydrogen and carbon dioxide, which is captured and stored permanently, deep underground. Such power stations have massive potential worldwide as they allow countries to continue to use fossil fuels while reducing the environmental impact of today¡¯s power plants. This is particularly important for major coal users such as the US, China and India.
To take full advantage of this opportunity, Nexsun is pursuing strategic partnerships with technology developers which allow us to combine our core competencies with a partner¡¯s expertise in carbon capture and storage.
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