Great news from the International Energy Agency on the growth of renewables. Pay particular attention to the reasons behind the growth: " including falling costs, expansion in emerging economies, continuous technological innovations that make energy generation and preservation more efficient and effective, as well as growing investments in alternative energy sources."
That, in a nutshell, is our security in our continued prosperity and expansion despite political winds shifting within nations. If the numbers work, investors come, developers come and buyers come. Pretty simple equation.
The International Energy Agency projected that renewable energy will represent the largest single source of electricity growth by the end of the decade. Several factors are expected to contribute to the increasing adoption of green energy, including falling costs, expansion in emerging economies, continuous technological innovations that make energy generation and preservation more efficient and effective, as well as growing investments in alternative energy sources.
According to a report by Sandler Research, the global renewable energy investment market to exceed USD 350 billion by 2020. Investments in the solar and wind energy are increasing considerably. Looking at the US market, the Solar Investment Tax Credit (ITC) has provided industry stability and growth since 2006 where it has experienced a CAGR of about 60%. Investments and new state policies favoring green energy provide companies with the opportunity to increase their R&D and marketing efforts, which helps greater innovation potential. Solarwindow Technologies Inc. (OTC: WNDW), Corning Incorporated (NYSE: GLW), Covanta Holding Corporation (NYSE: CVA), Pattern Energy Group Inc. (NASDAQ: PEGI), SunPower Corporation (NASDAQ: SPWR)
A report by Grand View Research points out that wind technology is economical today in majority power markets and that accomplishments of green marketing in harnessing wind power, has given rise to the domestic public interest in the sustainable electric generation technology. Photovoltaics, best known as a method for generating electric power by using solar cells, have also generated interest, but the future of solar is in future technologies. The research indicates that the idea of zero energy homes also known as solar building homes has been trending. Solar building technologies supply heat, electricity, light, hot water, and cooling to residential and commercial buildings. Besides wind and solar, another alternative energy source expected to attract more attention is the Waste to Energy (WTE). Global Market Insights projects the WTE market size to surpass $33 Billion by 2023, growing at CAGR of 6.1%.