30 Nov '12, 5pm

Global renewable energy at a "tipping point," study says #wind #solar #renewables #energy

The global renewable energy industry is at a tipping point, as developed markets are starting to close the door on generous subsidy programs and emerging markets are developing cost strategies to compete with fossil fuels, finds a new study released by Ernst & Young LLP . Renewable energy continues to thrive in emerging markets, many of which have opted for capacity tenders rather than government subsidies. "Current global macro-economic drivers are reinforcing the role of emerging markets in the future global energy mix," says Gil Forer, Ernst & Young's global cleantech leader. “As renewable energy technologies become more cost-competitive, the importance of government subsidies is set to decrease to create a sustainable growth platform for both developed and emerging markets, as well as for manufacturers.” In the third quarter of this year, China continued to lead Ernst ...

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