By DAVID R. BAKER, San Francisco Chronicle

Barack Obama's election has members of the alternative-energy world sounding positively giddy, an enthusiasm not shared by their competitors in the oil industry.Obama's energy plans read like a wish list for the companies that make solar cells, wind turbines or alternative fuels.

SAN FRANCISCO -- The Wall Street meltdown may have claimed another category of victims -- the developers of wind farms, solar energy installations and other green-tech firms.

Government officials looking to blame someone for the recent financial meltdown have set their sights on a particular type of trader -- the short seller.

California has added enough solar power to its electrical grid this year to light a small town, according to an update released this week on the state's solar rebate program.

SAN FRANCISCO -- Fill 'er up. On us.Free gas has become the business world's favorite marketing gimmick of 2008, used to sell cars, hotel reservations, baseball tickets and golf clubs.It's easy to see why.

Californians are still learning to cope with $4 gasoline. Will they soon have to deal with $5?In the two weeks since California's average price for regular gasoline passed $4 per gallon, prices have jumped an astonishing 42 cents. Some cities have seen increases of 5 cents or more overnight, according to data from the American Automobile Association.

Call it a failure of economics. Even as the cost of crude oil has soared in recent years, the amount pumped from the ground hasn't.Since the start of 2004, oil's price has quadrupled, from $33 per barrel to $132. Production, meanwhile, has risen just 1.8 percent, to 84.6 million barrels per day.

California should have more than enough electricity this summer to keep the lights on and the air conditioners humming, state officials said this week.In its annual summer forecast, the California Energy Commission said the state should have 22 percent more power on tap than it would need for a typical summer.

The alternative energy business is starting to make real money.Worldwide sales for companies specializing in biofuels, wind farms, solar panels and fuel cells grew 40 percent in 2007 to reach $77.3 billion, according to an annual report issued by Clean Edge, a research firm that studies the green technology industry.

California is blessed with many renewable sources of energy, from surging Sierra rivers to strong coastal winds.Now, add another source to that list -- cow manure.