Alternative energy is about to lead to billions in investment in Michigan, and Detroit-based DTE Energy is one of the companies looking to lead the way.
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DTE Energy is getting ready to spend billions of dollars on alternative energy investments in Michigan, boosting the state's efforts to become a leader in this rapidly growing market.
The parent company of the Detroit Edison and MichCon utilities plans to make about $3 billion in renewable energy investments in Michigan over the next six to seven years, said Knut Simonsen, senior vice president of DTE Energy Resources Inc.
These investments depend on the state passing a new law mandating that 10% of its electricity come from renewable energy sources. The House of Representatives and the Senate have passed their own bills toward this goal, but major differences between the two must be reconciled.
"It's exciting times in the sense that clean tech investment's time has finally come," Simonsen said.
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