Reports indicate life after stimulus for clean energy
Reports continue to indicate the clean energy sector’s strength despite the recession and uncover signs pointing toward steep growth in the coming years. Perhaps there’s life after stimulus after all?
A recent report from Bloomberg New Energy Finance noted that worldwide financial investment in clean energy, including wind farms, solar parks, biofuel plants, and other projects, as well as public market, venture capital, and private equity financing for clean energy companies reached $27.3 billion in the first quarter of 2010. That level represents an increase of 31 percent from the first quarter of 2009 but is down 13.6 percent from the fourth quarter.
However, Bloomberg expects clean energy investments to set a record in 2010, possibly reaching $200 billion. And the U.S. Department of Energy’s Energy Information Administration predicts renewable energy will be the fastest-growing source of energy throughout the world over the next 28 years. According to highlights of an EIA report released last month, International Energy Outlook 2010, the anticipated growth will meet a projected 49 percent increase in world energy use.
The American Recovery and Reinvestment Act has so far been the main driver of the U.S. clean energy market. Critics have suggested there won’t be a return on that investment or that if the investment has to be made in the first place, it’s an artificial marketplace. The recent reports blow those theories out of the water.
I believe these signs most certainly suggest there’s life after stimulus funding. The stimulus primed the pump. And there’s no stopping it now.
For more information, please contact Heather Sabharwal at firstname.lastname@example.org or 202-349-7016.
Posted on Mon, May 17, 2010
by Bruce Gruenewald filed under