Renewable Energy and Insurance: Growth Opportunities for Consultants

While still mired in a recession that, according to a meeting held at the Federal Reserve of Boston, won't recover in NE to pre-recession levels for 3 more years - there are areas of growth and opportunities for environmental consultants.

High Tech and Renewable Energy:
Renewable energy companies continue to sprout up in part due to Tax Credits which assist in the financing of these companies and/or companies projects. This is certainly an area of opportunity for consultants and engineers to assist such companies with their environmental concerns - i.e. Biomass and air quality is a hot topic.

Insurance is a Fundamental Part of Renewable Energy and High-Tech Cos:
With new risk and endeavors come creative insurance products. Just recently an insurance carrier announced that it will provide insurance to renewable energy companies that rely on Tax Credits as part of their financings. The coverage is designed to protect owners, developers and investors against financial loss arising from the loss or damage to energy property. It also responds to the resulting recapture of investment tax credits that were granted for such property, pursuant to Section 48 of the IRC. Other coverages enhancements are available.
Additionally, renewable energy companies providing energy under long term (typically 10 years+) PPA contracts can insure a breach of that contract based on an insurable loss as defined in the policy.