In class when we talk about economic growth and what is going to be the next industry that shifts our Production Possibilities Frontier outward, hence, increasing our long run ability to produce goods and services (Long Run Aggregate Supply), I speculate that this will come in the energy sector. Specifically, in solar power generation. It seems to be the most logical resource to tap. Right now the technology is sufficient to meet only a very small percentage of our overall energy requirements. However, I believe someday (soon(?)) someone will develop the equivalent of the microchip, which produces MUCH more in productivity (and residual value to society) relative to its cost, for the solar power industry. The suns energy is "free" but the technology to convert it into mass-use power is simply not there yet...
For start-ups that harness the energy of the sun, 2010 looks to be a promising year.
"In The Wall Street Journal's first survey of venture-backed clean technology companies, three makers of solar cells came out on top: Solyndra Inc. of Fremont, Calif.; Suniva Inc. of Norcross, Ga.; and eSolar Inc. of Pasadena, Calif. The rankings, announced Thursday at the Journal's ECO:Nomics Executive Conference in Santa Barbara, Calif., seek to identify those green companies that have the capital, executive experience and investor know-how to succeed in an increasingly crowded field",
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