During March 3-7, 2008, I had the opportunity to attend the 2008 Washington International Renewable Energy Conference (WIREC), touted to be the largest international conference on renewable energy in the world. WIREC was actually three events rolled into one—a ministerial conference for policy makers, a business conference, and a tradeshow. Most everyone involved in renewable energy was there.

From the size and the diversity of the corporate landscape represented at the panels and on the tradeshow floor, it was obvious that companies in every industry want to be considered committed players in the renewable energy space.

BP, among the largest oil companies in the world, paid $1 million to be the lead sponsor of this three-day event. Other non-traditional green companies, including oil major Chevron, waste-to-energy power company Covanta Energy, and auto maker GM, were also principal sponsors.

This observation led me to some looming questions about the future landscape of renewable energy market. If a high level corporate sponsorship at the world’s largest renewable energy conference could serve as a simple proxy of a company’s commitment and feasibility of engaging in the sector, what does it tell us about the current and future competitive landscape in this space?

On the positive side, diversified multi-nationals with deep pockets, long-standing R&D programs, and established global distribution channels may encourage faster end-user uptake of new technologies.

In emerging market economies, such as India and China, with insatiable need for power generation, multi-national first-movers may simply be better poised to bring renewables to these markets.

Additionally, the absence of specific federal mandates for renewable portfolio standards, cap and trade legislation, and significant tax incentives for all forms of renewable energy may have less impact on larger, more established firms.

On the negative side, the question of recognizing environmental leadership in the renewables sector more challenging when large-scale multi-nationals whose core businesses may pose environmental risks, start to dominate the field.

Can we truly call a company a renewable energy leader if it is among the top ten renewable power companies in the world and also allegedly invests heavily in dirty, energy-intensive oil sand extraction?

Can we give credit to a soft drink company for being the largest purchaser of renewable energy credits, while it allegedly depletes groundwater resources in developing countries?

Despite these uncertainties, the overall mood of the conference attendees seemed optimistic with the hope that the next U.S. administration will carry the torch for renewable energy. Even talk of the need for energy independence by featured keynote, President George W. Bush, further justified the common goal to promote renewables for the mainstream.