Green Energy Development Announces the Results of Its Study Regarding the Replacement of the Current Energy Engine with Renewable Energy Resources
FOR IMMEDIATE RELEASE
Atlanta, Georgia – January 26, 2011 – Green Energy Development, Inc. (“GED”), the premier global developer and provider of renewable and sustainable energy projects, including biomass/waste-to-energy (WTE), solar, wind, and geothermal energy solutions and technologies, announced the completion of a critical global energy Study. In an effort to create visibility for (and draw attention to) the energy challenges facing the world, the renewable energy opportunities in that challenge, and the consequences of failing to embrace the global energy issues with a strong energy policy commitment, GED conducted a self-funded in-depth Study regarding the replacement of the present unsustainable fossil-fuel based energy engine with one based on renewable sources, as well as the critical timing related to such a replacement. GED’s findings with regards to the United States’ need to replace its unsustainable fossil fuel sourced energy engine with renewable-sourced energy engine are alarming. “The hundreds of millions of Americans relying on the present unsustainable energy engine should be made aware of this issue”, stated David R. Ames, GED Chairman and CEO. GED’s Study findings include:
- To have an energy engine in the United States that is 50% renewable sourced by 2055 requires an increase of approximately 335,193,475,703 KWH of renewable energy “PER YEAR” every year between now and 2055. This assumes a modest energy demand growth of ½% per year in the States. To reach a 100% renewable energy engine by 2100 requires an addition of 457,550,336,247 KWH of renewable energy “per year” every year until 2100;
- Utilizing a reasonable mix of renewable energy utilities spanning wind farms, solar farms, 3 sizes of bio/waste-to-energy facilities, and an average size hydroelectric dam in the States, it will take 264 installations of this mix per year to reach the 50% by 2055, and 360 installations (one a day) to reach the 100% by 2100.
- In the States these number result in the following installation of renewable energy facilities utilizing a mix of renewable energy technologies*: (1) Wind Farms - 33,022 by 2055 and 90,54 by 2100; (2) Solar Farms - 157,408 by 2055 and 429,735 by 2100; (3) Small Waste to Energy (“WTE”) - 11,718 by 2055 and 468,802 by 2100; (4) Larger WTE - 8,395 by 2055 and 22,919 by 2100; (5) Super WTE - 225 by 2055 and 613 by 2100; and (6) Hydro Dams - 514 by 2055 and 1,402 by 2100.
*All figures above are based on information provided by the Department of Energy in two (2) separate reports released in May and August, 2010, respectively.
David Ames, GED’s CEO and Chairman stated “the results of our study truly show the effort needed today to implement renewable energy facilities in the United States and elsewhere in the world. To ignore this issue and the results of this study would be detrimental to society and our energy (as well as economic) future.” Further, Ames stated “we must call upon our leadership to focus on this crisis and begin to design and implement a plan to achieve the long term and short term solutions that are defined in the Study while our current energy machine in still in operation.”
Indeed, GED has designed a plan of public private partnerships for implementation in the United States that would begin to address the crisis identified in its study. Mr. Ames stated that “GED invites the United States leadership in Washington to review its findings and discuss the implementation of its public private partnership plan.” GED believes that its plan will not only address the critical findings of its Study, but also provide solutions to the unemployment and economic problems in the United States.
About Green Energy Development, Inc.
Green Energy Development, Inc. (“GED”) is the premier global renewable energy utility. GED is technology agnostic, allowing it to focus on all major approaches to renewable energy including biomass/waste to energy, wind, and solar. GED’s business model provides diversity and risk mitigation across global renewable energy opportunities in this emerging market. GED renewable energy opportunities are identified and qualified through an extensive global network of technical and strategic stakeholder relationships, and GED’s monitoring, assurance, auditing, and management system provides investors a real-time view of project/utility performance.
- Contact Information
- David R. Ames
- Chairman and Chief Executive Officer
- Green Energy Development, Inc.
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