The Economics of Alternative Energy

NextEnergy, together with the Michigan Economic Development Corporation (MEDC) and Michigan’s Department of Energy, Labor and Economic Growth (DELEG) are connecting Michigan suppliers statewide with alternative energy OEMs to promote Michigan’s capacity for supplying technology and products to the expanding wind, solar, geothermal, alternative fuels, and bioenergy industries.

Michigan ranks fourth in the nation for companies with the potential to manufacture components for alternative energy, renewable energy and energy efficiency technologies, based on a match of system components and NAICS manufacturing codes.

The opportunity to position Michigan as a national and international leader in the development of alternative energy technology is aided by the state’s vast water resources and forestry resources, along with the University Research Corridor (an alliance of three extraordinary research centers; the University of Michigan, Michigan State University, and Wayne State University.)

A further initiative is NextEnergy’s engagement by the MEDC to support Michigan’s Centers of Energy Excellence program; dedicated to growing businesses in the energy storage industry (Ann Arbor) bioenergy industry (Flint) wood waste to energy (Escanaba) and anticipated CEEs in wind, solar, and alternative fuels.

The OEMs in these industries are racing to secure supply chains to support their growth. And Michigan’s supplier base offers them exceptional opportunities.