I don’t believe we have ever started a year with so much clean energy momentum. First, we have Paris. As 2015 closed, more than 195 countries gave nods of approval to what is now being called The Paris Agreement, which calls on all countries of the world to reduce carbon emissions. The agreement won’t mean anything until 55 countries totaling at least 55 percent of global emissions agree to be legally bound by it. The first step, the signing, is expected to take place on April 22 at the UN in New York. The next occurs after countries are able to establish that they have domestic approval for joining the agreement, the timing of which will vary by country. Countries will have to turn in an “instrument of ratification, acceptance or approval” that states the country has completed all necessary steps and can now join the agreement. Once more than 55 percent of the global emissions are accounted for, the agreement will become legally binding.
But if a global agreement to limit carbon emissions wasn’t enough good news, we also have extended renewable energy tax credits in the U.S., more clean energy friendly leadership in Canada and Australia, for-profit companies exploring business models and getting funding to bring clean energy to Africa and Asia-Pacific and record investment dollars flowing into the entire renewable energy sector.
I hope you gain valuable information from reading our market outlooks for each technology. With them we try to give you a good sense of where each segment of the renewable energy industry is headed this year. It should be another wild ride. Hang on!
Jennifer Runyon, Chief Editor
PS — click to play the video that goes along with this letter.