Increasing global investment in clean energy - 12th June 2015
Green technology is sometimes viewed as a no-go area for investors. During the last decade billions was invested in electric cars, solar panels and futuristic batteries which caused the sector to overheat leading to toppling share prices and reduced investment.
In 2014, however, global investment in clean energy was back to its 2011 peak at $310 billion, up from $60 billion in 2004. Alongside this the price of clean technology has dropped which has contributed to more wind and solar power being generated in 2014 than in any previous year.
One of the causes of this is the spread of clean energy in developing countries, China invested $89.5bn in the sector last year, Brazil $7.9bn and India $7.9bn. Developing countries have almost caught up with developed countries when it comes to overall investment.
Support from Businesses and Governments has also increased through tax breaks and venture investments.
And yet despite the positive global picture, at the individual country level there are pressures, one example of this is the new UK government’s attitude towards onshore wind.
CorPower chief executive Patrik Möller believes that carbon dioxide should be priced at a similar level to the damage it causes. He states that the biggest barrier in the way of a shift towards clean technologies is the continued subsidisation of fossil fuels.
However the falling costs of renewables is likely to lead to them being preferable to fossil fuels, regardless of whether consumers care about the environment.
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