It seems that the huge efforts of green advocates are starting to pay off such that even the world of business is starting to see that investing in renewable power is worth it. A report by Bloomberg reported that investments in renewable energy grew more than investments made in traditional fossil fuel based energy sources like coal, gas and oil. Recent data indicate that money invested in former grew by about $187 billion while money put in the fossil fuel basket grew by only $157 billion. This is a significant milestone because this has never happened before and it certainly goes to show that renewable energy is here to stay. And considering how the current economy is doing and how world talks in reducing greenhouse gas emissions has stalled, it gives us yet more hope in our fight to slow down the effects of global warming as even the business sector is seeing more money in going green!
By the way, we’re not talking only about solar power here as many first world countries like the U.S. are slowly making significant efforts toward integrating different renewable power sources (solar, wind, hydroelectric, etc) into the grid. (Recommended read: Want to carry a hyrdroelectric plant in your backpack?)
Similar trends are seen in other parts of the world. For instance, renewable sources will play a huge part in Germany’s transition from nuclear power with their pledge to have all of their 10 nuclear power plants shut down by 2022.
Another example, the northern Ireland has also reported a whopping 20% increase in power generated through renewable means last year. They are certainly happy about it but stresses that more significant amounts of investments are needed to ensure that they meet their 2020 target of meeting 40% of their energy needs through renewable means.
Don’t you think the time is ripe to jump into the renewable energy bandwagon?
Sources:
Bloomberg.com
PCMag.com
COSPP.com
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