By: Dylan Sikes - AllPennyStocks.com News

Tuesday, July 7, 2015

According to investment research firm Zacks, despite the challenging macroeconomic environment, the long-term outlook for the alternative energy space is solid. Zacks, citing the U.S. Energy Information Administration, noted in its report that renewable energy will be the fastest growing power source through 2040. The current transition in global energy markets is being driven by wind and solar. Zacks though noted in its report that niche renewable energy sources such as geothermal and concentrated solar power are also seeing growth. Ocean power technology is another area where some focus has shifted lately. Although not in commercial stage, Zacks believes there is prospect in harnessing sea power.

According to a report from the Federal Energy Regulatory Commission, alternative sources such as wind, solar, geothermal, and hydropower together provided more than 75% of the 1,229 megawatts of new U.S. electrical generating capacity in the first quarter of 2015.

The outlook for alternative sources of energy is also bright outside the U.S. Indeed, many European countries are looking to increase the share of alternative energy sources in their energy mix. And then there are the emerging markets like China and India.

Both countries see alternative energy sources as crucial for their development. China is also looking to cut its carbon emissions and sees alternative energy playing a major role in achieving its goals.

Given the solid long-term outlook, it is not surprising that companies in the alternative energy space are continuing to strengthen. This morning, Green Planet Group Inc. (OTCPK:GNPG), a Tempe, Arizona-based company engaged in the research, development, manufacturing and distribution of a range of products that improve overall energy efficiency, announced that it has filed its unaudited financial statements for the fiscal year ended March 31, 2015.

For the full fiscal year, the company’s inventory value was $188,000, compared to $112,000 reported for the previous fiscal year. Accounts payable at the end of the fiscal year were $21,600, compared to $160,000 reported for the previous fiscal year. The company’s loss from operations was reduced to $125,000.

Edmond Lonergan, CEO of Green Planet, noted fiscal 2015 was a year of continued operational improvement and restructuring along with significant progress in new product development. Lonergan further said that GNPG is poised to make the long anticipated leap from development to commercialization in both the AAQIS and Healing the Earth subsidiaries. He added that it is a very exciting time for the company.

Copyright © 2015 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.