4 Comments

Earth’s Renewable Energy Investment Topped $257 Billion for 2011

solar power, wind powerGlobal Investment in Renewable Energy hits record  $257 Billion in 2011

Good news from the pages on  a report from the United Nations Environment Programme (UNEP), and the Renewable Energy Policy Network for the 21st Century (REN21).

Worldwide investment trends for renewable energy reveal 2011 as another record-breaking year for  sustainable energy. Solar power had a big year, getting roughly twice the invested cash that went to windmills, and remains the 1st  choice of our planet’s renewable energy sector.

U.S. Green Chamber of Commerce remains very encouraged by the record investment totals, but the industry’s rate of growth has slowed. 2011 saw a growth rate of 17% over the previous year, while 2010 posted a rate of 37% growth.

We blame our sluggish world economy for the slower pace, but escalating investment in renewable energy makes it pretty clear that our species has begun to accept global warming as fact that requires us to take action.

Our Business Climate has changed in response to our global climate.

Yes, we still have our share of global-warming refuseniks who espouse the “Science of Truthiness” to champion their brand of apathy. But their influence finds refuge at the fringe  of public discourse. They grow ever more irrelevant to an audience that regularly complains about unusually hot summers, record snowfalls, and other erratic weather patterns. Skeptics who previously resisted  hard data, found no difficulty believing their own eyes when record setting snowfalls forced FEMA to declare a state of emergency for Washington D.C. and the Mid Atlantic in February of 2010.

solar power, pv, photovoltaicWho were the top investors in green technology for 2011?

While the shale gas boom may have distracted investors with the promise of new sources for fossil fuel, China and The U.S. continued to outspend other nations to pursue sustainable energy through wind, solar power and other alternatives.

China currently leads the planet with the installation of wind turbines and remains the top hydro-power producer through 2011.

‘In 2011, renewable energy technologies continued to expand into new markets: around 50 countries installed wind power capacity, and solar PV capacity moved rapidly into new regions and countries. Solar hot water collectors are used by more than 200 million households as well as in many public and commercial buildings worldwide.’

Bolstered by falling component prices, total investment in solar power and panels came to $147 billion. Photovoltaic (PV) installations for solar found new homes on rooftops across Italy and Germany.

Meanwhile, smaller custom-scale  (PV) installations drove investment with strong numbers for China and the UK.  Finally, solar thermal power (CSP) showed hefty new investments for major projects in Spain and the US.

What lies ahead?

We’re gradually seeing the modular custom-scale (PV) panels installed around local businesses, grabbing free juice from the sky to power lighting units or specific electronic devices within the establishment.  We’ll probably see quite a few more in years to come as innovation brings photovoltaic modules down from the rooftops in the form of easy-to-install units whose price tags make them a no-brainer to help reduce our electric bill.

On June 12, 2012, SDG&E, our local power utility, settled its latest lawsuit with the City of San Diego, agreeing to pay $27 Million dollars to settle all claims related to the Witch Creek fire which began in the early afternoon on Oct. 21st, 2007.

Sparking power lines ignited brush fires southeast of Santa Ysabel, merged with the Guejito fire, and then headed west to torch parts of Rancho Bernardo. SDG&E settled with the County of San Diego and various agencies last December for $24.5 million dollars.  SDG&E has has shelled out more than $1.5 billion to insurance companies, individuals and governmental entities, and more suits are pending. Ironically, our utility concedes that their equipment caused this disaster, but they’ve never admitted wrongdoing.

Go solar power!

Related articles

Advertisements

4 comments on “Earth’s Renewable Energy Investment Topped $257 Billion for 2011

  1. Now that is good news,still we don’t know what lies ahead for this is just the beginning,we can’t just leave our investments and without the experts Finance Managers Ideas.

    • Thanks Nate,

      I appreciate your reply. Sometimes I forget that people actually do read my blog. Help yourself to a gold star for that Big Book in the sky, if there is one.

      Warmest regards,

      Jay

  2. Your post was so wonderful that I decided to bookmark this site, so I can easily access this blog for further updates.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: