Global Investment in Renewable Energy Reaches $100 Billion

[LMagic007]

Global Investment in Renewable Energy Reaches $100 Billion

Global investment in renewable energy could reach US$750 billion within the next 10 years, according to the latest Ernst & Young Renewable Energy Country Attractiveness Index, which tracks and scores investment in renewable energy.

FM Magazine: Melbourne, Australia

More than $100 billion was invested in 2007 in new renewable energy capacity, manufacturing plants, and R&D - a true global milestone. Yet perceptions lag behind reality. The REN21 Renewables 2007 Global Status Report captures that reality. Lead author of the report Eric Martinot gives a selected overview.

Global status report: Keeping it clean

WASHINGTON, May 5 /PRNewswire/ -- High oil prices and an array of government incentives are leading to soaring rates of investment in renewable energy, according to the United Nations' annual "Global Trends in Sustainable Energy Investment" report.

Global Investment in Renewable Energy Reaches $100 Billion According to UN Report: Financial News - Yahoo! Finance

The UN report calculates global investment capital flows into renewable energy companies reached $100 billion for the first time in history last year. More than $30 billion of the total was the result of mergers and acquisitions led by investment banks such as JP Morgan and Goldman Sachs.

"The finance community has been investing at levels that imply disruptive change is now inevitable in the energy sector," says Eric Usher, Head of the Energy Finance Unit at the UN. Usher said the UN's "report puts full stop to the idea of renewable energy being a fringe interest of environmentalists. It is now a mainstream commercial interest to investors and bankers alike."

Global Investment in Renewable Energy Reaches $100 Billion According to UN Report: PRNewswire Business News - MSN Money

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Thats incredible. Great stuff

[Wobs]

“In 2003 China and Korea connected new plants to the grid and Canada reconnected a couple of plants, netting an increase of about 2,000 MWe. For all the arm-waving, new wind farms added fewer kilowatts to the world energy system than nuclear added in 2002 plus 2003. China plans to open three nuclear plants in 2005, and more than 30 plants are under construction around the world. Vietnam, with 80 million people, has nuclear plans. Even in Europe, observe what people do and not what they say. Finland is building a new unit. Although Italians say they have not built nuclear plants, five French nuclear plants essentially export electricity to Italy. While Italians use nuclear power; they cleverly get the French to build and operate the plants. Keep your eye on what people do and pay much less attention to what they say.

[LMagic007]

Originally Posted by Wobs

“In 2003 China and Korea connected new plants to the grid and Canada reconnected a couple of plants, netting an increase of about 2,000 MWe. For all the arm-waving, new wind farms added fewer kilowatts to the world energy system than nuclear added in 2002 plus 2003. China plans to open three nuclear plants in 2005, and more than 30 plants are under construction around the world. Vietnam, with 80 million people, has nuclear plans. Even in Europe, observe what people do and not what they say. Finland is building a new unit. Although Italians say they have not built nuclear plants, five French nuclear plants essentially export electricity to Italy. While Italians use nuclear power; they cleverly get the French to build and operate the plants. Keep your eye on what people do and pay much less attention to what they say.

That's nice to know, but we are not in 2002, 2003, or 2005 we are in 2008. The global dynamics have changed significantly. God help us when more of the less technologically developed nations bring on nuclear power. The point of the article though is not about nuclear energy. It's about acknowledging the growth and development of the renewable energy industry. Raising this information about nuclear seems almost mischievous in intent. One does wonder about your motivation for this.

[Wobs]

Originally Posted by LMagic007

That's nice to know, but we are not in 2002, 2003, or 2005 we are in 2008. The global dynamics have changed significantly. God help us when more of the less technologically developed nations bring on nuclear power. The point of the article though is not about nuclear energy. It's about acknowledging the growth and development of the renewable energy industry. Raising this information about nuclear seems almost mischievous in intent. One does wonder about your motivation for this.

My motivation is to gain a sense of perpective.
We also know that nuclear energy is also gaining ground in other parts of the world today as well.

While I'm glad to see expansion in wind energy (where appropriate), and other renewables, I'm always cautious about articles making big claims, and they are often greenwash. I hope you appreciate that.

[LMagic007]

Originally Posted by Wobs

My motivation is to gain a sense of perpective.
We also know that nuclear energy is also gaining ground in other parts of the world today as well.

While I'm glad to see expansion in wind energy (where appropriate), and other renewables, I'm always cautious about articles making big claims, and they are often greenwash. I hope you appreciate that.

Yes but the article is not about nuclear energy growth. You seem to have a tendency to focus on the negative of every positive development about renewable energy. It's good news that renewable energy is booming. We desperately need it to evolve, improve and succeed. Just accept it for the benefits it can bring to the world, without having to throw a negative slant on everything renewable. It's fantastic news to see renewable energy reach 100 billion dollars in investment and that indicates allot about it's potential future and to where it has evolved to date.

Does renewable energy have a long way to go ? Yes of course. But it has come a hell of a long way already and now it's approaching a point in its technological evolution, where it's approaching critical mass. Mass automated production is a continuing challenge for many areas of renewable energy, but once this has been achieved at large, its potential can then begin to be further realized. Once renewable energy production is mastered, global growth can look forward to a more positive longer term growth outlook. I maintain my view that the renewable energy revolution will be what it takes to actually save the global economy long term. In fact not just renewable energy, but also waste recycling I see as critical to our long term future.