Rush of Talent and Money into Solar Power

The U.S. Department of Energy (DOE) has earmarked up to $24 million for breakthrough solar energy products. The DOE’s Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy, John Mizroch, recently announced the investments are aimed at developing solar energy products to significantly accelerate penetration of solar photovoltaic (PV) systems in the United States and make solar power cost-competitive with conventional sources of electricity. According to the DOE, these projects are integral to the Bush administration’s Solar America Initiative, which aims to make solar energy cost-competitive with conventional forms of electricity by 2015. The DEO adds that increasing the use of alternative and clean energy technologies such as solar energy is critical to diversifying America’s energy sources to reduce greenhouse gas emissions and dependence on foreign oil.

Looking ahead, many industry analysts and experts believe that solar power offers the promise of contributing a significant percentage of America’s and the world’s energy needs. According to the 2008 Utility Solar Assessment (USA) Study compiled by Clean Edge, Inc. and Co-op America, solar power could provide 10% of U.S. electricity generation by 2025. Amid the trend, talent is flocking to sustainables. Executive search firm, A.E. Feldman says there is a huge rush of talent and money into renewable energy sources, such as biofuels, wind power…and solar power.

A. E. Feldman has cultivated relationships with companies that have access to the financial resources to help fund U.S. based solar initiatives. One senior industry veteran and recruiter working with A.E. Feldman says, “Very few people understand this business yet but the wealth of individuals and institutional investors getting involved is enormously high. Interest in alternative fuels is absolutely growing and attention to the sector will only increase.” A.E. Feldman’s CEO, Carol Schwam, says the burgeoning alternative fuel industry is looking for super-brokers who can funnel money into their businesses. She notes, however, that entrepreneurs in this sector must bridge the gap between the science behind the technology and a successful business.