investment in renewable energy across the globe
Investment in renewable energy across the globe is increasing significantly from $33 billion in 2004 to $211 billion as of June this year, 2011.
In Nigeria, investments in renewable energy have a large potential for growth given the large gap between energy demand and supply and the enormous renewable energy options available.
BoI and UNDP have planned to boost Nigeria investment in renewable energy through private sector participation. In Nigeria both the financial institutions and renewable energy service providers are called to avail themselves of the opportunity afforded by this forum to network for the development of the renewable energy industry in the country.
Over $3.6 billion has been invested in renewable energy in Africa, including Nigeria, with Egypt and Kenya taking centre stage.
Renewable energy is attracting some of the world's largest companies, including General Electric, Siemens, Sharp, and Royal Dutch Shell. The report estimates that nearly 40 million households worldwide heat their water with solar collectors, most of them installed in the last five years. Altogether, renewable energy industries provide 1.7 million jobs, most of them skilled and well-paying.
Government support for renewable energy is growing rapidly. At least 48 countries now have some type of renewable energy promotion policy, including 14 developing countries. Most targets are for shares of electricity production, typically 5 percent-30 percent, by 2010-2012. Mandates for blending biofuels into vehicle fuels have been enacted in at least 20 states and provinces worldwide, and in three key countries—Brazil, China and India.
Government leadership provides the key to market success, according to the report. The 2004 market leaders in renewable energy were Brazil in biofuels, China in solar hot water, Germany in solar electricity, and Spain in wind power.
As 2011 nears its end point and the world economy continues its slow recovery, a lot of big money is leading directly to clean tech. In the second quarter alone, three big deals in particular tell us a lot about this current trend, and I believe, point toward a future of energy transformation. It’s an impressive trio:
French oil and energy giant Total SA, the world’s 14th largest corporation, offered to take a 60 percent stake in San Jose-based solar PV stalwart SunPower, for $1.38 billion.
Japanese computer/electronics icon Toshiba said it will acquire Swiss electricity meter manufacturer Landis & Gyr, an increasingly influential player in smart meters and other smart-grid technology, for $2.3 billion.
Home improvement retailer Lowe’s, a Fortune 50 company with nearly $50 billion in revenue, took an undisclosed minority stake in fast-growing solar installer/lessor Sungevity. Lowe’s plans to offer fast rooftop solar price estimates, at kiosks with Sungevity’s iQuote software application, to its in-store customers in the eight states where Sungevity operates.
One particularly encouraging facet of the research is that the capital raised for investment in renewables during 2011 is approaching pre-recession levels. In 2007 almost €2.5 billion was raised for such projects, but that figure dropped to just €2 million in 2009.
Sources:
allAfrica.com
Renewable
environment
nuclear-news
RenewableEnergy
Renewable Energy
Investment in renewable energy across the globe is increasing significantly from $33 billion in 2004 to $211 billion as of June this year, 2011.
In Nigeria, investments in renewable energy have a large potential for growth given the large gap between energy demand and supply and the enormous renewable energy options available.
BoI and UNDP have planned to boost Nigeria investment in renewable energy through private sector participation. In Nigeria both the financial institutions and renewable energy service providers are called to avail themselves of the opportunity afforded by this forum to network for the development of the renewable energy industry in the country.
Over $3.6 billion has been invested in renewable energy in Africa, including Nigeria, with Egypt and Kenya taking centre stage.
Renewable energy is attracting some of the world's largest companies, including General Electric, Siemens, Sharp, and Royal Dutch Shell. The report estimates that nearly 40 million households worldwide heat their water with solar collectors, most of them installed in the last five years. Altogether, renewable energy industries provide 1.7 million jobs, most of them skilled and well-paying.
Government support for renewable energy is growing rapidly. At least 48 countries now have some type of renewable energy promotion policy, including 14 developing countries. Most targets are for shares of electricity production, typically 5 percent-30 percent, by 2010-2012. Mandates for blending biofuels into vehicle fuels have been enacted in at least 20 states and provinces worldwide, and in three key countries—Brazil, China and India.
Government leadership provides the key to market success, according to the report. The 2004 market leaders in renewable energy were Brazil in biofuels, China in solar hot water, Germany in solar electricity, and Spain in wind power.
As 2011 nears its end point and the world economy continues its slow recovery, a lot of big money is leading directly to clean tech. In the second quarter alone, three big deals in particular tell us a lot about this current trend, and I believe, point toward a future of energy transformation. It’s an impressive trio:
French oil and energy giant Total SA, the world’s 14th largest corporation, offered to take a 60 percent stake in San Jose-based solar PV stalwart SunPower, for $1.38 billion.
Japanese computer/electronics icon Toshiba said it will acquire Swiss electricity meter manufacturer Landis & Gyr, an increasingly influential player in smart meters and other smart-grid technology, for $2.3 billion.
Home improvement retailer Lowe’s, a Fortune 50 company with nearly $50 billion in revenue, took an undisclosed minority stake in fast-growing solar installer/lessor Sungevity. Lowe’s plans to offer fast rooftop solar price estimates, at kiosks with Sungevity’s iQuote software application, to its in-store customers in the eight states where Sungevity operates.
One particularly encouraging facet of the research is that the capital raised for investment in renewables during 2011 is approaching pre-recession levels. In 2007 almost €2.5 billion was raised for such projects, but that figure dropped to just €2 million in 2009.
Sources:
allAfrica.com
Renewable
environment
nuclear-news
RenewableEnergy
Renewable Energy
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