A PRICE BEYOND NORMAL COST5
HYPOTHESIS OF ENERGY5
POWER OF WIND7
SUGGESTIONS AND ANALYSIS13
SKYPE-REVOLUTIONIZAING THE WAY PEOPLE COMMUNICATE15
FEATURES OF SKYPE:15
THE INSURANCE CONNECTION20
Growth in non life insurance sector and Economic growth.24
On the verge of completing our project on “INNOVATION AND ENTERPRENEURSHIP”, I take this opportunity and pleasure to express my gratitude to Professor Dr. Swati Jain. We are equally thankful to Prof. Dr. Swati Jain, for her constant guidance and encouragement. She has been very supportive and has guided us all the way. She has helped us at every step, correcting our flaws and encouraging us. This task would not have been possible without her support.
1. To study the impact of innovation and sector energy as the whole. 2. To study the major changes into the energy consumption. 3. The companies like automobiles, technology turning green inviting entrepreneurship skills. 4. To give a detailed analysis of the future opportunities for internet telephony. 5. To analyze the future threats because of the new innovators in telecommunication industry. 6. To study how insurance sector acts as a facilitator to the growth of entrepreneurship.
CHANGE THROUGH CHALLENGE-THE ALTERNATE WAY
The world over-people love the booming markets. Investors and Venture Capitalists like the markets backend by the Technological change. We have witnessed the computing boom of 1980’s, the internet booms of 1990’s, biotech and nanotech boom lets of early 2000’s, and they are searching for another. They think they have got that-CLEAN ENERGY. Many of the past energy booms have been through Coal-fired Steam power, the rise of electricity, oil-fired internal combustion engine and even the mass tourism era of jet. But past few decades, coal has been cheap, natural gas has been cheap, the nuclear energy before the current deal in India and barring few countries in the world went off the rails. The pressure to innovate has been minimal. The changing times, in the span of few years at present, Oil is no longer cheap, the concern over supply of oil reaching to the peak, new reserves becoming more expensive and harder to find. The price of natural gas has also risen in sympathy with oil, that’s putting up the cost of electricity on rise. Wind and solar energy no longer looks so expensive in comparison. Coal still remains the cheap source of electricity for powered stations but the world looks the whole picture differently. The world over the projects of Coal power station are in queue, but in practice few have been implemented because no longer the major countries tolerate the green house gas emissions the plants are emitting. The power companies fear because of the tax they might have to pay for increased pollutants, so investing now in the power plants of coal would lead to the heavy expenditures in the future. That has opened up the opportunity gap for the wind and solar energy, the future price of these resources is known-ZERO. That certainly is a hedge opportunity against the present heavy cost of capital for establishment. During an Economic downturn, global warming may not be at the top of people’s mind. High fuel prices can fall due to the new explorations and availability from other sources (Tar sands, liquefied coal and so on).
Source: The Economist-The future of Energy
19th July, 2008 Special Report
A PRICE BEYOND NORMAL COST
CHALLENGE THE WORLD FACES
The energy market is...