As all industries these days, renewable energy is taking a big hit - Even though this has been a great week for the world’s clean energy sector - as the US Congress extended the tax incentives for wind and solar, relieving much uncertainty behind the market development potential.
Nonetheless, the WilderHill New Energy Global Innovation Index (NEX) plummeted today (to 217.2), more than 50% down on its highs of last November. Many clean energy shares are at their lowest levels of any time in the last two and a half years. (Is this a good time to buy?... I'll wait a bit)
With this in mind, next week I'll be attending the Solar Power International event (This is the largest event for this industry - The number of attendees has been nearly doubling each year, and expected to reach over 12,000 this year.)
Just a few months ago this would have been a place of celebration... But given the state of things, it will be interesting to see how the industry is thinking...