5.089

All signs are continuing to point to investment growth and strong renewable energy potential in 2008, despite the economic troubles from the global financial markets. Acceptance of renewable energy alternatives and the realization that they are here to stay are beginning to take hold in China, the United States, and Australia, who have been hesitant to acknowledge the change that is coming until recently. Europe began the transition to renewable energy resources some time ago.

The Olympic Games held in Beijing in the summer of 2008 gave China an incentive to strive for cleaner energy alternatives. Investment in China in non-hydro options increased more than four-fold in 2007 to $10.8 billion. Anticipated changes in the political environment in the United States have spurred fresh looks at renewable energy technologies and the need for them.

According to the UNEP SEFI “Global Trends In Sustainable Energy Investment 2008” report, $148.4 billion was raised globally for sustainable energy in 2007, which was an increase of 60 percent from the previous year. The report states that wind power was the main contributor to investment dollars in renewable energy options. Public investment more than doubled the amount contributed in 2006.

The fact that the economic hardships seen in 2008 have not stopped the technological advancement of renewable energy sources is a good sign that the energy market and energy efficient projects are being taken seriously. These are important matters that need to be weighted with resolve to make a change for the betterment of all. If the goals are to be met that experts have outlined as necessary to stop the adverse affects of global warming and climate change, then financial investments must be structured to effectively make those alternatives possible.

Investment in renewable energy is expected to reach $450 billion by 2012 and $600 billion by 2020. The statistics from 2007 show the energy sector is currently on target to meet these goals. Recognition of the diverse set of renewable energy alternatives that are available to meet current needs and demands are also responsible for the continued upsurge in the mainstream financial markets. More funds have been specified for sustainable energy development.

An example of the breadth and depth that renewable energy options are taking include the development of what is known as the “next generation technologies.” These include thin-film solar methodology and cellulosic ethanol. Wind energy continues to be at the forefront of the sustainable energy development, but many other forms of sustainable energy and ideas will keep branching off into new ideas and new innovations. In time, increasing knowledge will be gained about existing technologies and methods will be refined and grow into better and more productive uses.

Financing and investment of renewable energy alternatives will remain challenging but with each new success story and each decade that passes, the decision to invest in energy efficient technologies will be able to point to results and, therefore, the process of funding should get easier and more rewarding.



Sherry Irvin
on behalf of the
BascoTec Internet Limited
Technologie Park 13
33100 Paderborn
Germany

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