According to U.S. renewable energy statistics from 2007, the most recent year available:
* It met about 7 percent of U.S. energy needs.
* Electric power production used 51 percent of all renewable output
* Hydroelectric sources comprised 71 percent of renewable power production, followed by biomass (16 percent), wind (9 percent), geothermal (4 percent) and solar (0.2 percent)
Source: Energy Information Administration
Never mind the fall in oil prices. It`s the credit crunch that has siphoned momentum from alternative and renewable energy.
Analysts say many capital-intensive new projects or expansions of established ones are pretty much on ice until access to money loosens up.
'All of the factors that were pushing for more investment into the sector have disappeared: oil, gas, coal, and by extension, electricity prices, are lower. Money that is ready to go at risk on projects with ...