Global climate change response can Spur $7 trillion in clean energy investment by 2030, according to a new analysis.
Increasing public concerns about climate change - and its potential economic and political security consequences - are driving public policy and private investment to bring clean energy technologies from the fringes of the global energy industry to the centre of activities as quickly as possible, a new analysis by Cambridge Energy Research Associates (CERA) has concluded.
The result of this rising public and private momentum is an increase in worldwide clean energy investment that could surpass $7 trillion by 2030 in cumulative real 2007 dollars, according to the CERA report “Crossing the Divide: The Future of Clean Energy.”
“We are seeing a major shift in public opinion, reinforced by the expectation that carbon policies could fundamentally change the competitive landscape of the global energy business,” said CERA Chairman and IHS Executive Vice-President Daniel Yergin.
“This is providing a vital impetus that is moving clean technology across the great divide of cost, proven results, scale and maturity that has separated it from markets served by mainstream technologies and processes.”
“The rapidly advancing new paradigms of climate change, energy security, and policy implementation and cooperation among the United States, the European Union, China and others will produce a broad range of opportunities, risks and pitfalls as the modern energy industry increasingly moves to adopt clean technologies that will be part of the alternative, low-carbon pathway to the energy future,” said Robert LaCount, head of CERA’s Climate Change and Clean Energy Group.
“All participants in the global energy business, from traditional incumbents such as electrical power companies and major oil and gas companies to new entrants such as venture capital firms,” he added, “will play a role in shaping this alternative energy future.
The Big Three: “The “Big Three” in terms of energy consumption – the United States, the European Union and China – will have major impact on development of “clean energy,” along with certain other countries, particularly Japan and Brazil, according to the new research. – TradeArabia News Service