Alternative Energy & Power Generation Technology

The Great Lakes are the largest and potentially greatest source of wind energy on the eastern two-thirds of the United States.

Michigan could rank among the top 20 states in wind energy production, with the potential to produce 7,460 megawatts, enough to power 1.9 million to 2.2 million homes a year.

A state mandate requiring utility companies to generate at least 10 percent of their energy from renewable sources by 2015 has spurred an explosion of new wind energy businesses in Michigan.

wind speed map

Alternative Energy companies that chose Oakland County include:

Altair Engineering		Ovonic Battery Company
Energy Conversion Devices		United Solar
Inergy		Windstar Power Company
Novi Energy

The Federal Government allotted $2.4 billion for advanced battery and electric-vehicle projects across the country. More than half will go to Michigan companies.

State officials' project that battery projects will create almost 7,000 jobs in the next 18 months and 40,000 by 2020.

Oakland County has a plethora of engineers - nearly 30,000 - equipping the region with the know-how to propel alternative energy concepts to tangible, market ready products.

Reference our monthly Emerging Sectors Report to find out current results in Alternative Energy.

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Michigan Venture Capital Association

Established by venture capital and private equity investors in the state, the Michigan Venture Capital Association (MVCA) is the state's premier public policy advocate for the private equity/venture capital industry. MVCA works to promote entrepreneurship and private equity investment.

Venture Capital

More than $694 million has been invested in over 100 businesses in Michigan. The state created a $150 million Venture Michigan Fund to catalyze investment in early-stage ermerging technology firms. The matching requirement will attract an additional $450 million in capital to Michigan for investment in promising new companies.

Angel Networks

Michigan has three active Angel Networks: The Great Lakes Angels, The Grand Angels and The Ann Arbor Angels.

Traditional and Non-Traditional Financing

Oakland County's Business Finance Corporation and Economic Development Corporation help companies with the SBA 504 Loan and with Tax-Exempt Revenue Bond programs. Through the Automation Alley Technology Center, emerging companies can be assisted with securing non-traditional and unique sources of financing and capital.

NextEnergy Tax Incentives & Education Grants

NextEnergy is a non-profit corporation founded to advance the alternative energy industry in Michigan. Michigan NextEnergy Authority (MNEA) certified companies have access to several state-wide incentives. NextEnergy education grants for Michigan colleges and universities ensure curriculum development and an advanced workforce focused on alternative energy technologies.

Oakland County's Alternative Energy Research Focus:

Stationary
Portable
Transportation
Military

Close to 20,000 acres of corn are grown every year for biotech purposes (ethanol)
The Great Lakes around the state of Michigan contain the largest supply of fresh water in the world - 20% of the world's fresh water

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