North American Windpower: Major Growth Predicted For Global RE Investment

Major Growth Predicted For Global RE Investment

by NAW Staff Tuesday August 07 2007

Global investment in renewable energy could reach $750 billion within the next 10 years, according to the latest Ernst & Young Renewable Energy Country Attractiveness Index, which tracks and scores investment in renewable energy.

Demand for renewable energy is growing at unprecedented rates, driven by competing government incentives, the company says. In 2006, investment reached $100 billion. The report shows that the U.S. continues to be the global leader in this sector - a position it has held since last autumn.

Furthermore, the U.S. holds the number-one position on the long-term and near-term wind indexes for the second quarter.

"The U.S. tops the near-term index as forecast installations for the next two years are greater here than any other market in the world," the report notes, "and wind turbine supply issues are affecting fewer projects due to domestic manufacturing capabilities and the inherent attractiveness to manufacturers of large onshore wind projects with low planning risk."

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