Clean Energy Investments on the Uprise
According to Bloomberg New Energy Finance, investments in renewable power generation may double to $395 billion a year by 2020. This rapid growth would be led primarily by offshore wind and solar energy projects. Similar projects put clean energy investments at an even equally impressive $460 billion by 2030, up from $195 billion last year. This increase in funding would result in a total world generation capacity of 15.7 percent within 20 years.
“Last year’s record renewable energy investment was no one-off despite the recent economic gloom,” according to Guy Turner, director of commodity market research at New Energy Finance. “Big winners over the next 20 years will be the emerging renewable energy hubs in Latin America, Asia, the Middle East and Africa – by 2020 the markets outside of the European Union, U.S., Canada and China will account for 50 percent of global annual investment in renewable energy capacity.”
Read more at Bloomberg.