NEW YORK, Jan. 1 (UPI) -- After starts and stops over the last 30 years, alternative or renewable energy may have finally moved from a U.S. cottage industry to big business.
With oil and gas prices soaring, the allure of alternate energy sources is apparent and some industry analysts say it may not only become a darling of Wall Street, it may offer a bubble for investors, the New York Times reported Sunday.
For example, some of the most in-demand initial public offerings recently have been of solar energy companies such as SunPower, which rose 41 percent on its first day of trading.
"In 2005, we saw a tripling of venture capital money going into the solar industry compared to 2004," said Rhone Resch, president of the Solar Energy Industries Association.
In addition, blue-chip company figures such as General Electric's chief executive Jeff Immelt has been rhapsodizing about renewables.
