Renewable is Doable and Growing

According to the Energy Business Review 2008, the value of the wind, solar, hydro, geothermal and wave power sector reached $246 Billion.  And it is a growth industry – in 2012 the market is forecast to have a value of $398.7 billion, an increase of 62% in 5 years.

The analysis indicates that most of the current and projected growth is occurring in China, US, India, Germany and Spain.  It also makes clear that the most effective way to keep renewables growing is to provide dedicated support for expansion of R & D, cost reductions, financing and deployment of renewable energy technologies, as opposed to ‘market mechanisms’, at least in the near-term.

by Julia Langer