1 Sign Wind Is Winninghttp://www.fool.com/investing/general/2012/11/16/1-sign-wind-is-winning.aspx Justin Loiseau
November 16, 2012
What happens when you pair the smartest weather scientists in the world with the largest wind power data set known to man? NextEra Energy (NYSE: NEE ) and the National Oceanic Atmospheric Administration, or NOAA, are about to find out. Keep reading for the latest, and find out whether the answer to our energy demand is blowing in the wind.
These newest data sources will join NOAA's growing database, already supported with information from Xcel Energy (NYSE: XEL ) for the last year.
"We appreciate this opportunity to work with industry and are eager to start similar data sharing agreements with other industry partners," said Kathryn D. Sullivan, Ph.D., assistant secretary of commerce for environmental observation and prediction and NOAA deputy administrator. "Everyone who uses weather information will benefit from these additional data."
For NextEra, the decision to facilitate more accurate information was easy. "NextEra Energy recognizes that a better NOAA weather forecast will ultimately improve our operational decisions and our bottom line," said Mark Ahlstrom, CEO for a NextEra wind subsidiary. "Sharing data with NOAA makes sense because it helps NOAA deliver better forecasts for use by our company and the general public."
Who's winning with wind?
NextEra's not alone. Besides private Iberdrola, other utilities and investors are looking to wind as the most cost-effective and viable renewable energy for the United States.
Both Duke Energy (NYSE: DUK ) and Exelon (NYSE: EXC ) have made significant strides in the past five years to diversify their energy portfolios. Duke currently generates over 1,000 MW of wind power from 11 farms, and has plans for 600 MW more by the end of 2013.
Exelon operates 39 wind projects capable of generating 922 MW, and its "Exelon 2020: A Low-Carbon Roadmap" goal plans to eliminate the equivalent of the company's 2001 carbon emissions by 2020.
General Electric (NYSE: GE ) offers an interesting wind work-around, as it produces much of the wind technology and turbines used by utilities. Its newest WindBOOST control software can increase a turbine's output by over 6%, pushing per-turbine productivity from 1.5 MW to 1.6 MW.
Even Warren Buffett's Berkshire Hathaway (