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

Solar FlexRack - TDP Turnkey Tracker

Solar FlexRack - TDP Turnkey Tracker

Solar FlexRack TDP™ Turnkey Trackers are the next generation, single-axis solar tracker solution, complete with comprehensive services and support. What sets this tracking solution apart is its updated tracking technology bundled with a full suite of best-in-class project services and support for commercial and utility-scale solar customers. The TDP Turnkey Tracker offers the lowest total cost solution by providing the only tracker in the industry that includes full design, installation, commissioning, and support services bundled in one contract. Solar FlexRack's TDP Solar Tracker solution is supported by an in-house team of experts that includes mechanical, structural, civil, electrical and geotechnical engineers and geologists. To learn more about Solar FlexRack's TDP Turnkey Tracker, one of the most cost-effective and comprehensive tracker solutions available, please visit: http://solarflexrack.com/products/tracker.