Renewable Energy: The Market Rules Over Policy—So Far
The growth in renewable energy is continuing its rapid rise, propelled by momentum built up in 2016. According to a new UN report, last year the world added record levels of renewable energy capacity and at lower cost. Eight percent more capacity than 2015 was added in 2016, with 23 percent less investment than the previous year (the 2016 total investment number was a still whopping $241 billion). Falling costs, expanding consumer demand, global concern over climate change, and profit-promising investments are making today’s clean energy sector a classic example of a market-driven boom. It remains to be seen if the current Administration’s policies that run counter to the ideas that support clean energy will cool off this red-hot market. To judge by the billions flowing into clean energy companies, I’d bet that the trend lines will continue to point upwards.
John Howell, Editorial Director
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