The technology industry is forever tied to Silicon Valley's gravitational pull. The automotive industry is primarily the property of Michigan's critical mass. And work in emerging sectors, such as biotechnology, has already begun in earnest around the globe.

"You don't get that chance, ever really," said Somer Hollingsworth, president of the Nevada Development Authority.

With that in mind, the statements made by former President Bill Clinton at last weekend's NDA annual meeting rang in Hollingsworth's mind. Clinton challenged the Las Vegas business community to lead the way for a national shift toward conservation and renewable energy.

"If I were the economic development czar for America today or if I were in charge of economic planning for Las Vegas and Nevada today, I would start by making a complete and total commitment to a clean energy future," Clinton said, "because I think you can create more jobs there than anywhere else."

Clinton reasoned that new technology for wind, solar and other renewable generation methods would lower costs to businesses and consumers. At the same time it would reduce the need for fossil fuel-burning plants that dirty the environment, and the engineering and manufacturing needed to develop and produce the technology would also become an engine for the economy.

Additionally, Nevada has the chance to capitalize on an industry that currently has few major foreign competitors, leaving a wealth of business opportunities untapped, Clinton said.

"It's true. Biotech, everybody's trying to get on that," Hollingsworth said. "This is one that has been lying around for years, and no one's gone anywhere with it. It's do-good, feel-good, but it's great business."

Other business leaders agreed that it's a worthy endeavor, particularly as the cost of energy begins to soar under the pressure of mounting international demand and surging natural gas prices.

"I think ultimately, you're going to have to demonstrate to businesses that they can get a return on investment," said Glenn Christenson, chief financial officer of Station Casinos Inc.

Station Casinos has implemented many energy conservation programs since 2001, and those measures have produced $2 million in annual energy-cost savings. "It's very meaningful," Christenson said.

Don Snyder, recently retired president of Boyd Gaming Corp. and chairman of the foundation for the Smith Center for the Performing Arts, agreed that, given the rising cost of energy, the time is right to press for energy conservation and renewable energy development.

"The greater good needs a little bit of rational economics with it," he said. "They are starting to come together a lot more realistically than people ever thought even a year ago."

Making such a commitment locally will not be without its challenges, particularly as the community struggles to produce affordable housing.

"The challenge is to build more efficiently without increasing the cost," said Focus Property Group Chief Executive John Ritter. "That's the juggling act right there. You have to be able to accomplish both things."

The key, he said, is staying in touch with the realities of our valley at the same time.

"We are still a city that has a very large service industry workforce and are typically considered affordable," Ritter said, pointing out that green building techniques come with a larger price tag.

Other cities, where housing costs are inherently higher, can absorb the cost of those methods as a smaller percentage of the overall costs. Still, Ritter said, it's worth pursuing.

"I still think it's the right way to go," he said.

UNLV President Carol Harter said the interest in partnerships with the university on research into renewable energy and new building techniques appears to be on the rise as companies look for opportunities.

"I think we're starting to see that develop," Harter said. "I'm not sure it's at the highest level yet."

Rebecca Wagner, energy advisor to Gov. Kenny Guinn, also said that the momentum appears to be growing.

"I think there is a genuine interest in green building and green energy within the business community in Southern Nevada," she said. "The rising energy prices could start playing a bigger role in making those decisions. ... The feel-good stuff is great, but it's got to be a good economic decision."

How much renewable energy can grow as an industry in Southern Nevada is debatable, said Walter Higgins, chief executive for Sierra Pacific Resources, parent company of Nevada Power Co. of Las Vegas.

"It's not going to be the next Silicon Valley, but we might end up with a couple of major manufacturers here and that would be great," he said.

What could prove to be an economic engine is the possible export of renewable energy generated in Nevada. Higgins said the state's available land, sun, wind and geothermal resources could be leveraged as other states struggle with similar fossil fuel volatility.

"Let's take advantage of that," he said. "Why wouldn't we see if that can't be used to Nevada's advantage."

Roberto Denis, Sierra Pacific's senior vice president for generation and energy supply, agreed.

"The resource is there," he said. "Now we have to do the work."

Kevin Rademacher covers utilities and finance for In Business Las Vegas and its sister publication, the Las Vegas Sun. He can be reached at (702) 259-4069 or by e-mail at kevinr@lasvegassun.com.