Monday, February 2, 2009

New Green Technologies might help British Gov't

As the world continues to look for innovation and technology to replace a system run on oil, a well known British company looks to new technology to make the change. In this article British engine and power system maker Rolls-Royce is attempting to use new technology to lead the way past oil. Britain may be required in the next few years to have more renewable energy and it currently has few ways of getting more. Rolls-Royce has taken new technology and used it to address this problem. By making new turbines that harnesses power from the tides, they can create an unlimited source of energy. This is both great green technology for all governments, but also a great business decision on Rolls-Royce’s part. It looks like if all goes well, Rolls-Royce could end up with a fat contract from the British government to manufacture the turbines for them. Technologies like this are always a win-win situation. In this case the government gains a new form of renewable energy and the company is well compensated for its efforts. Currently, Rolls-Royce spends about 5% of its R&D on renewable technologies. If this is as popular a technology as everyone hopes, look for that number to rise in the future. This is the kind of trend that we need to get the ball rolling on renewable energies. A lot has been said about our dependence on oil but to really break the cycle first we need some technologies that are proven and popular. Technologies like this hopefully will lead companies to see that there is a worthwhile market out there and will hopefully lead to a larger budget in their R&D departments for green technologies. 

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