Barrack Obama is currently developing an economic stimulus package for the clean technology sector. Since investors are having such a problem getting any kind of backing with the current economic crisis, this was a major shot in the arm for companies specializing in renewable energy. Renewable energy shares soared following the announcement last week and maintained it’s upward momentum into last Friday.
It’s an exciting result for proponents of wind energy. An aide to Obama stated Friday that the Obama administration plans to add 20 gigawatts or more of wind power by 2012 through loan guarantees and fast tracked national renewable energy requirements.
Investments in Wind Power had previously been taking a beating so this came at just the right time.