Renewable Energy at $254 Billion? Let's Make It a Clean Trillion

Billionaire bankers gathered at the United Nations yesterday to call for more investment in renewable energy -- $1 trillion a year, to be exact.
 
It won’t be easy. Global investment in renewable energy fell 12 percent in 2013 to $254 billion, according to data released by Bloomberg New Energy Finance (BNEF), casting a shadow over the notion of a “clean trillion.”
 
Last year was the second decline in renewable investments since 2011’s record-high $318 billion. Investors and climate-policy advocates including hedge-fund billionaire Tom Steyer and former U.S. Treasury Secretary Robert Rubin called for changes to financial markets that would boost investment. Financing must double by 2020 and double again to $1 trillion by 2030 in order to avoid global warming of more than 2 degrees Celsius, reports Ceres, the host of yesterday's conference.
 
These top-line numbers are fuzzy and paint a picture that’s perhaps more bleak than reality. First, the price of solar energy continues to tumble, so more renewable energy is being generated with fewer dollars invested. Second, while BNEF’s clean-energy tally is the most comprehensive for renewable energy, it’s not all-encompassing; it doesn’t include most energy-efficiency measures, fuel-efficiency gains or expanded public transportation.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

DPW Solar Power Rail™

DPW Solar Power Rail™

The Power Rail™ hardware system is the professional grade choice for mounting PV Modules on residential roofs and commercial structures. Featuring revolutionary RAD™ lock-in-place hardware, grounding and pre-assembled clamps, the Power Rail mounting system offers installers both labor and time savings. What sets this mounting system apart are eight rail choices for reducing costs over a broad range of span distances. Since 1993, DPW Solar mounting systems have provided installers the right combination of innovative products, cost savings and proven solar mounting technologies.