Thursday, January 3, 2008

Renewable Market tops $100 Billion in 2007

Just in case you're wondering if this renewable energy thing is real or just another flash in the pan like the 1970's solar boom and bust, look at the below article which states that the renewable energy market is growing to very real numbers world-wide.

From Market Watch.com

By Steve Gelsi
Last update: 10:53 a.m. EST Jan. 2, 2008

NEW YORK (MarketWatch) -- The amount of new money invested in the so-called clean energy sector grew 35% to $117 billion in 2007, according to London-based research firm New Energy Finance. "The clean energy sector weathered last summer's credit crunch well, partly because non-financial drivers such as regulation, political will and fears over energy supplies remain strong," New Energy Finance said. "It was also helped by a shift in focus from more mature wind and biofuels markets in Western Europe and the U.S. towards Asia, Brazil and other developing countries." Wind power continued to lead the way, but the year also saw strong growth in solar power and energy efficiency. Investments in biofuels fell back from 2006's record year, in the face of rising corn and soy bean costs.

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