The World's #1 Renewable Energy Network for News, Information, and Companies.

Developers Will Invest 1.9 Trillion in Clean Energy Over Next Five Years

Developers Will Invest 1.9 Trillion in Clean Energy Over Next Five Years

Developers and financiers will invest $1.9 trillion building clean-energy power plants worldwide from 2012 through 2018 as demand for electricity increases, according to The Pew Charitable Trusts.

Development costs for solar and wind farms and other types of renewable-energy plants will increase to $327 billion in 2018 from about $200 billion last year, according to a report posted on Pew’s website today.

Those figures may increase even more if governments establish national energy policies that include commitments for renewable power, Phyllis Cuttino, director of the Pew Clean Energy Program in Washington, said yesterday in a telephone interview. The incentives should have defined durations to give the industry clarity.

“Policy does matter,” she said. “You have to have a renewable-energy target or a standard. Or something in the tax code. Or eliminate market barriers. There are different policies you can use to get there, but you’ve got to do something. You can’t just have no national energy policy.”

Global energy consumption is expected to increase 47 percent from 2010 to 2035, and cumulative investment in the renewable-energy industry may approach a $5.9 trillion over the same period, according to the report, which was prepared by Pike Research LLC.

“Industry has said very clearly to us, ‘What we need is, we need to have certainty,’ ” Cuttino said. “There has been an unlevel playing field, tilted in favor of incumbent technologies. And we need to get over that hump.”

Lead image: Investment via Shutterstock

RELATED ARTICLES

Stock graph

Green Bonds Sprout as Wall Street Embraces Renewable Energy Debt

Cordell Eddings, Bloomberg Bonds backing clean energy and other sustainable initiatives are booming. Investors are snapping up green bonds at the fastest pace on record, as big banks like Morgan Stanley and Bank of America Corp. pile in with new iss...

The Big Question: What Is the Most Frustrating Part about Working in Renewable Energy?

Renewable Energy World Editors

Every industry has its challenges and misunderstandings. Sometimes the obstacles we face in simply trying to do our jobs can be very frustrating.

Wind turbines sunset

UK Plan to Cut Wind Subsidies Irrational, Scotland Minister Says

Alex Morales, Bloomberg

Plans by U.K. Prime Minister David Cameron’s government to end subsidies for onshore wind power make no sense, Scottish Energy Minister Fergus Ewing said.

Norway and Sweden flags

Nordic Renewables Boom Set to Exceed Wind Energy Target

Jesper Starn, Bloomberg

Sweden and Norway will probably exceed a joint target for renewable energy production by the end of the decade, industry consultant Nena AS said.

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

PV-201: Introduction to PV Design & Installation

PV 201 Introduction to PV Design & Installation is simply the best i...

PV-301: Advanced PV Design & Installation

This highly desirable and advanced course is intended for the profession...

PV-401: Advanced Field Training

Real world on the job solar installation, training, and experience is th...

COMPANY BLOGS

Community Solar Solutions Appeal to Eco-Conscious Millennials

Tech savvy and convenience oriented, the millennial generation is the mo...

Building Rapport

How do you build rapport with your prospect? This is a question that I a...

Up to Bat – Why More Solar Companies Are Thinking Seriously About A...

Given the growth of the solar industry in the U.S., with 2014 year-...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS