30 Apr '13, 4am

75% of New Energy Investments Are Renewable: In a striking keynote, Michael Liebreich President of BNEF spoke

75% of New Energy Investments Are Renewable: In a striking keynote, Michael Liebreich President of BNEF spoke

In the last 5 years, Electricity consumption in Australia and California have disconnected from GDP growth and that trend is now spreading through the developed world. Rising efficiency in motor transport may dramatically effect demand for foreign oil, with an effective decline of 25% already occurring in fleet purchases. The greatest change in renewables is in the developing world where installation of renewables is now the driver of energy investment. Clean energy costs for Solar, Wind and Battery are dropping faster then expected. BNEF predicts by 2020, Battery vehicles will be cost competitive with gasoline cars and that wind and solar are already cost competitive in many countries and will be globally cost competitive by 2014. Saudi Arabia is now planning by 2030 to have over half of all energy come from renewables. Utility managers are currently spending 40% of their...

Full article: http://www.solarfeeds.com/75-of-new-energy-investments-ar...

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