Obama’s ‘Greener Dollar’ creates a State lottery

Recent reports have shown that the Utilities industry in America is struggling. Profits in the second quarter have fallen and experts say it may not be until 2011 that any improvements can be seen. Consumer demand has decreased dramatically since the economic crisis first began, as housing and commercial construction markets have seen a severe drop in business.

But is there too much pressure on the industry during the downturn? Most sectors are struggling just to make ends meet, and yet Utilities are still expected to spend money on innovating new and renewable energy supplies with the knowledge that Government funding can only go so far. With the economic crisis looming over the globe, can the industry help produce a ‘Greener’ world, or will their attempts sink profits lower creating a collapse in the system?

On the flip side, some companies are beginning to reap in the positives of Obama’s reform where funding has been made available for them to innovate new renewable energy. They are thriving under the ‘greener’ resources readily available to them to undercut competitors and lower the prices for the consumer in their area. The problem is alternative energy resources differ dramatically geographically based on the environmental limitations. There may be a substantial amount of funding available for innovation, but it depends on where each utility company is based as to whether or not they can use it to their advantage.

With this in mind, Utility leaders are meeting in California to discuss renewable energy strategies and future plans to increase profits at the industry leading Next Generation Utilities Summit.  Leaders in the industry across America will gather to discuss the positive and negative impact Obama’s ideology has had on their businesses, and how as a nation we can move forward. Impresarios such as Andres Carvallo, CIO of Austin Energy, Scott Kicker - VP Engineering & Construction for AES Corporation, Cris Eugster - EVP & Chief Sustainability Officer for CPS Energy, Thomas Fair - VP Renewable Energy for NV Energy and Raman Raj, COO of Los Angeles Department of Water &Power are amongst 50 other industry visionaries to confirm attendance.

In a world where utilities, power and energy have the potential to change the way we operate, it is rare that the people who actually make it happen take the time to talk about real solutions. Many different companies will need to work together in order create a ‘path to smarter power’ that will support all American States. Platforms like the NGU Summit need to become available to the industry’s figureheads for discussions and collaborations to occur more frequently, especially as profits in certain areas are evidently not rising.