Policy & Politics
30 Jul 2013:
Return of Yellowstone Wolves
Triggers Surge in Grizzly's Prized Berries
The reintroduction of wolves at Yellowstone National Park has caused a cascade of ecological effects that has led to the regrowth of berries
, an important food source for the park’s grizzly bears, scientists say. Writing in the
Journal of Animal Ecology
Yellowstone National Park
Grizzly bear at Yellowstone Park
, scientists from Oregon State University and the University of Washington report that the percentage of fruit found in bear scat has nearly doubled during the month of August in recent years. According to researchers, this reflects a recovery of berry bushes triggered in large part by the wolves, which have reduced overbrowsing by the park’s elk herds. The removal of wolves for most of the 20th century triggered the demise of the park’s young aspen and willow trees, as well as berry-producing shrubs, scientists say. According to the report, berries may be so important to the health of bear populations that their recovery could mean a lifting of the species’ “threatened” status under the Endangered Species Act
24 Jul 2013:
European Investment Bank
Will Not Finance Most Coal Power Stations
The European Investment Bank (EIB), the main lending arm of the European Union, has decided to stop financing most coal-fired power plants
, part of an effort to help the 28-nation bloc meet ambitious greenhouse gas reduction targets by 2030. The EIB says that new and refurbished coal-fired power stations will be ineligible for funding unless they emit less than 550 grams of carbon dioxide per kilowatt hour, a standard that traditional coal power plants would be unable to meet. Power stations that burn coal would only be able to meet the standards if they also produce heat for municipal or commercial heating systems or burned biomass. The EIB says it plans to further tighten its emissions standards for coal- and natural gas-fired power plants in the future.
Interview: Leaving Our Descendants
A Whopping Increase in Sea Levels
Last week, a group of scientists led by Anders Levermann of the Potsdam Institute for Climate Change Research released a paper
that made a stark forecast:
For every 1 degree Celsius of temperature increase, the world will eventually experience a 2.3-meter increase in sea level. That means that should carbon emissions continue to rise at or near current rates, and temperatures soar 4 to 5 degrees C in the next century or two, the world could well experience sea level increases of many meters — dozens of feet — in the centuries and millennia to come. In an interview with Yale Environment 360
, Levermann discusses how he and his colleagues reached their conclusions, how much disruption such large sea level increases might cause, and why we need to ponder the effect of our actions on future generations. “Society needs to decide about how much damage it wants to do in the future and how much damage future generations can actually cope with,” he says.
Read the interview
23 Jul 2013:
Booming Cashmere Market
Is Threatening Snow Leopards, Study Says
A surging global market for cashmere is pushing several iconic species, including the snow leopard and wild yak, toward the margins of survival in remote regions where wool-producing goats are raised, according to a new
A snow leopard in the mountains of Central Asia
study. Demand for the luxurious wool, which has spurred a multibillion-dollar industry, has encouraged herders in Asia to drastically increase their livestock, which are devouring a growing share of the grass that had previously been eaten by antelope, wild asses, and their predators. In an analysis conducted in Mongolia, India, and China’s Tibetan Plateau, a team of researchers concluded that 95 percent of forage is now consumed by domestic animals, leaving just 5 percent for wild species, the Guardian reports
. In addition, the researchers noted a rise in the killing of leopards and wolves by herders following predator attacks on livestock, as well as the transfer of disease from livestock to wild animals. “Rather than serving as symbols of success, these species will become victims of fashion,” the researchers write in the journal Conservation Biology
22 Jul 2013:
‘Demand Response’ Programs
Saved Crucial Electricity During Heat Wave
As electricity producers struggled to supply power during last week’s heat wave along the U.S. East Coast, so-called “demand response” programs — which enable utilities to remotely reduce power usage in participating businesses and homes — were vital in avoiding blackouts
, utility officials said. The Wall Street Journal
reports that as electricity usage in New York state set a record on Friday, demand response programs produced energy savings equivalent to the output of two large power plants, just as the state was running dangerously low on power. Demand response programs enable utilities to dim lights, turn down air conditioners, and delay freezer-defrost cycles in the freezer cases of stores. Participating businesses and individuals get credits on their utility bills. Numerous states have demand response programs, and federal officials say these programs are capable of cutting peak U.S. electricity demand by 72,000 megawatts, or 9.2 percent.
19 Jul 2013:
European Fish Stocks
Show Signs of Recovery, Study Says
A major assessment of fish stocks in the northeast Atlantic Ocean shows that many species are recovering and are now being fished sustainably.
The surprising findings, reported in the journal Current Biology,
are based on data from government research institutes that collected millions of measurements of fish, both at sea and in markets. The study showed that for the first time in decades the majority of fish stocks in the northeast Atlantic are recovering, thanks to reforms instituted by individual nations and the European Union in 2002. This good news comes amid widespread criticism of EU fisheries policies
, which recently have undergone further reform. “We should be aware that low fishing pressure needs to be maintained until stocks recover,” said researcher Robin Cook of the University of Strathclyde in Scotland. “This is only the first step. Now we need to see numbers increase as a result of continued low fishing pressure.”
16 Jul 2013:
Russia Blocks Plans to Create
Massive Marine Reserve in Antarctica
Russian officials have blocked plans to establish the world’s largest marine reserve
in the waters off Antarctica, citing concerns that it would restrict their
John B. Weller/The Pew Charitable Trusts
Ross Sea pack ice
fishing interests in the region, according to news reports. The plan, which was proposed by the U.S. and New Zealand, would have protected a total of 2.3 million square miles in the Ross Sea, a deep, high-latitude body of water in the Southern Ocean. But during a meeting of the 25-member Commission for Conservation of Antarctic Marine Living Resources, Russia questioned whether the organization had the legal right to create such a haven. A key sticking point for the Russians was the potential loss of the fishery for krill, a shrimp-like creature that is a critical food source for penguins, seabirds, seals, and whales, but is netted for use in Omega-3 dietary supplements.
12 Jul 2013:
Europe’s Offshore Wind Sector
Is Growing, But Troubles Lie Ahead
European nations installed a record number of offshore wind turbines
during the first half of 2013, adding more than twice the capacity installed during the same period in 2012, according to the European Wind Energy Association (EWEA), an industry group. A total of 277 new turbines in seven wind farms were fully connected to the grid during the six-month period, adding 1,045 megawatts of capacity, with another 130 turbines installed but awaiting connection, the group says in a new report
. Although the new turbines bumped Europe’s total offshore wind energy capacity to 6,040 megawatts, officials say the sector’s growth is already slowing as a result of regulatory uncertainty in key countries. While European nations such as Germany and the UK have relied on large-scale wind projects to achieve renewable energy targets by 2020, the lack of a binding target for 2030 will cause growth to stall, said Justin Wilkes, EWEA’s policy director. “Financing of new projects has slowed down with only one project reaching financial close so far this year,” he said.
11 Jul 2013:
‘Peak Oil’ Concerns Overstated
As Demand Will Fall, Study Predicts
Researchers say concerns that humanity will inevitably reach a moment of “peak oil,” which would be followed by a crippling decline in supplies, are unwarranted
because global demand for oil is approaching its own peak
. Writing in the journal Environmental Science & Technology
, researchers from Stanford University and the University of California-Santa Cruz (UCSC) say that dire projections of peak oil mistakenly assume that an increasingly wealthy planet will continue to rely heavily on oil. On the contrary, they say, the link between economic growth and oil is breaking down as a result of increased energy efficiency, lower prices for alternative fuel sources, urbanization, and limits on consumption by the wealthy. While the researchers project surging global demand for airline travel and various forms of freight transportation, there will be less reliance on oil, with conventional oil demand declining after 2035.
26 Jun 2013:
Exposure to Lead Costs
Developing Nations $1 Trillion Annually
The exposure of children to toxic lead, and the subsequent declines in IQ and earning potential, costs the developing world nearly $1 trillion annually
, according to a new report. Based on the average lead levels in children under the age of 5, researchers from New York University found that Africa suffers the greatest costs from lead exposure, losing an estimated $137.7 billion annually, or about 4 percent of its gross domestic product (GDP). In Latin America, the costs are about $142.3 billion, the study found, while in Asian nations the costs are about $699.9 billion. By comparison, the annual costs in the U.S. and Europe, where exposure to lead has decreased significantly in recent decades, are about $50 billion and $55 billion, respectively. The report said lead consumption has increased worldwide
since the early 1970s, largely because of rising demand for lead batteries. The study was published in Environmental Health Perspectives
25 Jun 2013:
President Obama Unveils
Sweeping U.S. Plan To Tackle Climate Change
President Obama today unveiled a long-awaited national strategy to tackle climate change
, a sweeping plan that will include cutting carbon emissions at power plants, protecting the coastline from rising seas, and a
greater U.S. role in global climate talks. Calling the need to address climate change a “moral obligation,” Obama asked the U.S. Environmental Protection Agency to develop strict new standards on carbon pollution from existing power plants
, the largest source of emissions, by June 2014, and complete standards for new plants by October. He also committed $7 billion for climate mitigation and adaptation projects, and $8 billion in incentives for energy efficiency and other innovations, including carbon capture technologies. Overall, the president’s strategy aims to cut U.S. carbon emissions by 17 percent from 2005 levels by 2020.
24 Jun 2013:
Houston to Buy Half of its
Electricity From Renewable Sources
The city of Houston has agreed to purchase half its electricity from renewable energy sources
, a step that makes the Texas city the nation’s largest municipal buyer of green energy. In a contract signed with Reliant Energy, Houston committed to buying more than 140 megawatts of renewable power from July 1, 2013 through June 30, 2015, locking in nearly 623,000 megawatts of clean power annually. According to city officials, the government committed $2 million — less than 1 cent per kilowatt-hour — through the purchase of renewable energy credits that will be used to fund alternative energy projects. “Houston is already known as the energy capital of the world, but we are committed to becoming the alternative energy capital of the world as well,” Mayor Annise Parker said in a statement
. In addition to investing in wind energy, the city touted major solar projects at municipal sites and efforts to streamline its solar power-permitting process.
19 Jun 2013:
Study Maps Likely Wildlife
Migration Corridors as Climate Warms
The southeastern U.S., eastern Canada, and the Amazon Basin could become three of the more heavily used wildlife thoroughfares as species are forced to relocate
Click to enlarge
University of Washington
Wildlife corridors in the southeastern U.S.
in response to warming temperatures in the future, according to a new study
. In an analysis of how nearly 3,000 species of mammals, birds, and amphibians in the Western Hemisphere will have to travel to find more hospitable climes — and the human-built barriers, such as cities and agricultural land, that could stand in their way — scientists from the University of Washington found that some regions will see far more animal movement than others. In the southeastern U.S., the Appalachian Mountains are expected to provide a conduit for species movement, as are northern regions of the eastern U.S., including the area around the Great Lakes, the study found. According to the study, published in Ecology Letters
, the findings can help guide conservation and land use planning along these critical migration corridors.
14 Jun 2013:
Nicaragua Approves New Canal
Linking Atlantic and Pacific Oceans
Nicaragua has approved plans to build a $40 billion cross-country canal
linking the Atlantic and Pacific oceans, a project that would rival the Panama Canal but is raising major concerns about impacts on regional
water supplies and the environment. Lawmakers yesterday granted Hong-Kong-based HK Nicaragua Canal Development Investment Co. a 50-year concession to study, and possibly construct, a 180-mile canal that advocates say would better accommodate the massive cargo ships and supertankers needed to handle the increased trade between Asia and the Americas. Major questions remain, however, about whether the canal will ever be built. Environmental advocates warn that water needed to operate the massive infrastructure project would deplete the region’s freshwater supplies.
13 Jun 2013:
Population Could Be 11 Billion
By End of the Century, UN Report Says
United Nations report
projects that the world population could reach nearly 11 billion by 2100
, about 8 percent more than predicted just two years ago. The projected increase largely stems from the fact that the fertility rate in Africa has declined more slowly than expected, with demographers now forecasting that the number of people on the continent could nearly quadruple this century, from from about 1.1 billion today to about 4.2 billion. “The fertility decline in Africa has slowed down or stalled to a larger extent than we previously predicted, and as a result the African population will go up,” said Adrian Raftery, a professor of statistics and sociology at the University of Washington, who helped develop the statistical method used in the report. The total world population passed 7 billion in 2011. According to the new report, 8 of the top 10 increases in national populations by 2100 will occur in Africa, led by Nigeria, where the number of people is expected to jump from 184 million to 914 million.
11 Jun 2013:
Growing Number of Pests
Developing Resistance to GM Crops
An increasing number of pest species are developing resistance to crops genetically engineered to be toxic to insects
, according to new research. In an analysis of 77 studies conducted in eight countries, a team of U.S. and French scientists found that five of 13 major pest species had become resistant to so-called Bt cotton or corn plants, which are genetically modified to exude a bacterium, Bacillus thuringiensis
, that is toxic to insects. While researchers say all insects inevitably adapt to threats such as pesticides, the study found that farmers who planted non-Bt crops in nearby “refuges” were more likely to slow that resistance. “Either take more stringent measures to delay resistance, such as requiring larger refuges, or this pest will probably evolve resistance quickly,” said Bruce Tabashnik, a professor at the University of Arizona and lead author of the study published in the journal Nature Biotechnology
. The total land area planted annually with Bt crops has increased from 1.1 million hectares in 1996 to more than 66 million hectares in 2011.
10 Jun 2013:
Carbon Emissions Increased
1.4 Percent in 2012, IEA Reports
Global energy-related carbon dioxide emissions increased by 1.4 percent in 2012
, a pace that could lead to a temperature increase of as much as 5.3 degrees C (9 degrees F) over pre-industrial times, according to the International Energy Agency’s (IEA) latest World Energy Outlook
. Despite significant improvements in some regions, including the U.S. and Europe, a record 31.6 gigatons of carbon dioxide were emitted worldwide during the year, including a 5.8-percent increase in Japan
, where more fossil fuels were burned to compensate for reductions in nuclear power. While the rate of emissions growth in China was dramatically lower than in recent years, it still emitted 3.8 percent more carbon dioxide in 2012 than in 2011. In its report, the IEA encouraged four strategies to prevent what it says will be a catastrophic temperature increase: improved energy efficiency in buildings, industry, and transportation; a reduction in construction and use of coal-fired plants; reduced methane emissions; and a partial phaseout of fossil fuel consumption subsidies.
06 Jun 2013:
Carbon Emissions in Brazil
Dropped 39% from 2005 to 2010, Report Says
Greenhouse gas emissions in Brazil fell by nearly 39 percent from 2005 to 2010
, largely because of reductions in the amount of forest loss, according to a new government report. Overall, Brazil emitted the equivalent of 1.25 billion tons of carbon dioxide in 2010, which was more than 10 percent lower than 1990 levels. About 76 percent of the reductions were the product of a dramatic decline in deforestation across the Amazon and surrounding savannahs, according to the government inventory. That decline was driven by the country’s conservation policies, including stricter enforcement of land use laws, expansion of protected regions, and stronger local incentives to achieve environmental goals. For the first time, agriculture accounts for the largest share of emissions. In fact, rising emissions from agriculture and the energy sector threaten to offset improvements achieved through reduced forest loss, experts warn.
30 May 2013:
Nuclear Power Has Prevented
1.84 Million Premature Deaths, Study Says
The use of nuclear power from 1971 to 2009 prevented more than 1.8 million premature deaths
related to air pollution and 64 billion tons of greenhouse gas emissions, a new study says. Using historical production data and estimates of mortality per unit of electricity generated, scientists from NASA’s Goddard Institute for Space Studies and Columbia University calculated that replacing nuclear energy sources with fossil fuel-burning sources during that period would have caused about 1.84 million premature deaths. By midcentury, they project, nuclear power could prevent an additional 420,000 to 7 million deaths, depending on which fossil fuels it replaces, and 80 to 240 billion tons of greenhouse gas emissions. “By contrast, we assess that large-scale expansion of unconstrained natural gas use would not mitigate the climate problem and would cause far more deaths than the expansion of nuclear power,” said Pushker A. Kharecha, who, along with NASA’s James Hansen, co-authored the study published in the journal Environmental Science & Technology
. The study calculated that nuclear power plant accidents caused about 4,900 deaths during the same period.
29 May 2013:
Genetically Modified Salmon
Can Breed with Wild Fish and Thrive
Fast-growing, genetically modified salmon can interbreed with wild brown trout and produce offspring that grow rapidly and out-compete other wild salmon in streams
, according to a new study. Researchers from Memorial University in Newfoundland, Canada, found that so-called “Frankenfish” — which are close to being approved for sale in the United States
— can easily interbreed with brown trout in the wild, creating offspring that aggressively compete for food with salmon. In settings that simulated real streams, the offspring of the genetically modified (GM) salmon and brown trout were so aggressive that they suppressed the growth of GM salmon by 82 percent and wild salmon by 54 percent. “These findings suggest that complex competitive interactions associated with transgenesis and hybridization could have substantial ecological consequences for wild Atlantic salmon should they ever come into contact [with GM salmon] in nature,” the researchers wrote in the Proceedings of the Royal Society B
. The creator of the GM salmon, Aqua Bounty, said the risks were minimal since all the GM salmon will be female, sterile, and produced in tanks on land.
28 May 2013:
Electricity Availability Growth
Must Double to Achieve Global Access
The rate of expansion of access to electricity will have to double over the next 17 years
if the world's population is to achieve 100 percent access to modern energy, a new report says. While about 1.7 billion people became connected to electricity sources worldwide between 1990 and 2010, that increase barely outpaced population growth during that period, according to Sustainable Energy for All, a group lead by the World Bank and the United Nations. More than 1.2 billion people still do not have access to electricity, and 2.8 billion still rely on burning wood or other biomass for household fuel, a source of pollution that causes about 4 million premature deaths annually. Achieving universal access to modern energy will require investments of $45 billion annually, which is five times the current levels. If combined with an expansion of renewable energy sources and improved efficiencies, however, achieving this growth in energy access would increase CO2 emissions by less than 1 percent, the report says.
24 May 2013:
Majority of Earth’s Population
Faces Water Shortages by Mid-Century
A conference of 500 of the world’s leading water scientists issued a stark declaration
at the end of a four-day meeting in Germany, warning that within two generations a majority of the people on the planet will face problems obtaining ample supplies of clean water. At the meeting, “Water in the Anthropocene,” the scientists said that the of over-pumping of underground aquifers, soaring populations, pollution, the over-use of fertilizers, and climate change are seriously threatening supplies of freshwater
around much of the globe. Continuing on the current path will mean that most of Earth’s population “will be living under the handicap of severe water pressure,” the scientists said, adding, “This handicap will be self-inflicted and is, we believe, entirely avoidable.” The conference proposed a wide range of solutions, including better study and monitoring of water supplies, basic reform in irrigation and agriculture, and innovation in the institutions that set national and global water policy.
23 May 2013:
China Poised to Launch
Much-Anticipated Carbon-Trading Project
China has revealed details of a carbon cap-and-trade pilot project that will be launched next month, a much-anticipated market attempt to rein in carbon dioxide emissions by the world’s biggest emitter. The first phase of the program, which will be implemented in the southern city of Shenzhen, will cover 638 companies
that produce 38 percent of the city’s carbon emissions, according to the city branch of the government’s National Development and Reform Commission (NDRC). The system will impose caps on the companies’ CO2 emissions and establish a market for the buying and selling of emissions permits. Eventually, the program will be expanded to include the transportation, manufacturing, and construction sectors, the Guardian
reports. By 2014, the experimental scheme will be expanded into six other designated cities and provinces, including Beijing and Shanghai. Earlier this week, the Chinese newspaper 21st Century Business Herald
reported that the NDRC is contemplating a nationwide system to control CO2 emissions by 2020.
21 May 2013:
Large Majority of Americans
Believe Global Warming Should be a Priority
Roughly 70 percent of Americans say global warming should be a priority for President Obama and Congress and 61 percent support requiring fossil fuel companies to pay a carbon tax that would be used to help reduce the national debt, according to a new survey
by the Yale Project on Climate Change Communication. In a national survey conducted in April, 87 percent of respondents said that the president and Congress should make developing clean sources of energy a priority, 68 percent favored regulating carbon dioxide as a pollutant, and 71 percent supported providing tax rebates for people who buy solar panels and energy-efficient vehicles. Seventy percent said global warming should be at least a “medium” priority, while 28 percent said it should be a low priority. The poll showed that 7 in 10 Americans support funding more research into green energy sources.
10 May 2013:
U.S. Web Tool Aims to Bolster
Research on Climate and Health Links
The Obama Administration this week introduced an online tool
to improve research into the link between climate change and human health and promote innovative responses to future threats. As climate change triggers more extreme weather events and temperature shifts, it is becoming increasingly important to determine how these changes will affect respiratory illnesses, infectious diseases, allergies, and other human ailments, said Tom Armstrong, executive director of the U.S. Global Change Research Program. Writing on the department’s blog
, Armstrong said the so-called Metadata Access Tool for Climate and Health
, or MATCH, will provide an accessible portal of metadata from more than 9,000 health, environment and climate science data sets. “MATCH will help researchers and public health officials integrate the latest information from across environmental and health disciplines in order to inform more effective responses to climate and health threats,” he said.
01 May 2013:
Program Targeting Diesel
Emissions Will Be Cut by 70 Percent
A federal program that has cleaned up or removed 50,000 high-polluting diesel engines from U.S. roads is scheduled to be cut by 70 percent under President Barack Obama’s latest budget.
The program eliminated 230,000 tons of soot and smog-causing pollutants, slashed more than two million tons of carbon dioxide emissions, and saved 205 million gallons of fuel. But the program’s budget has faced steady cuts in recent years, falling from $50 million in fiscal year 2011, to $20 million in 2013, to a proposed $6 million in fiscal year 2014. The diesel cleanup program has succeeded in removing only a fraction of the 11 million dirty, pre-2006 diesel vehicles on the road. But environmentalists say that the program has been successful in helping clean the air in low-income communities that often are situated near ports, highways, and other areas with high diesel traffic.
29 Apr 2013:
Ocean off the U.S. Northeast
Was Warmest in 150 Years, Report Says
Sea surface temperatures along the northeastern U.S. were warmer in 2012 than during any year in the last 150 years
, a new report finds. According to the National Oceanic and Atmospheric Administration’s (NOAA) latest Ecosystem Advisory for the Northeast Shelf
, sea surface temperatures across the region — which extends from Cape Hatteras, N.C., to the Gulf of Maine — averaged 14 degrees C (57.2 degrees F) last year, significantly higher than the average temperature over the last three decades, which was 12.4 degrees C (54.3 degrees F). It was also the biggest one-year increase since records were first kept in 1854. While the data historically has been collected by ship-board instruments, NOAA now also incorporates satellite remote-sensing technology. “Changes in ocean temperatures and the timing and strength of spring and fall plankton blooms could affect the biological clocks of many marine species, which spawn at specific times of the year based on environmental cues like water temperature,” said Kevin Friedland, a NOAA scientist.
26 Apr 2013:
NASA Tests Affirm Viability
Of Biofuel-Powered Commercial Jets
In recent test flights, NASA researchers have confirmed that commercial airliners can safely fly on an alternative jet fuel blend
and that under some conditions the biofuel mix produced 30 percent fewer emissions than
Contrails from a NASA DC-8 aircraft
typical jet fuel. After flying DC-8 aircraft using a biofuel blend containing 50 percent camelina plant oil
, scientists from Langley Research Center in Virginia say they observed no noticeable difference in the jets’ engine performance. And specially equipped planes that measured the exhaust emissions from the jets’ contrails found the biofuel blend produced fewer emissions, according to NASA. “In terms of these fuels being acceptable for use in commercial aircraft, they’re quite acceptable,” Bruce Anderson, a senior research scientist at Langley Research Center, told the Associated Press. “But we’re still digging into the data.” But while camelina plant oil might eventually emerge as an attractive biofuel source, since it can be grown in arid regions, researchers noted that it is currently cost-prohibitive. Currently, Anderson said, camelina oil costs about $18 per gallon, compared to $4 per gallon for typical jet fuel.
25 Apr 2013:
Metal Demand Could Increase
Nine-Fold as Developing Economies Grow
Global demand for metals could increase nine-fold in the coming years
as the world’s developing economies continue to grow, a trend that could have profound negative environmental impacts, a new UN report says. As populations in these countries continue to adopt modern technologies, and nations increasingly construct metal-intensive renewable energy projects, the need for raw metal materials will likely be three to nine times larger than the current global demand, said Achim Steiner
, executive director of the United Nations Environment Program (UNEP). While the current demand is typically met by mining for more metals, large-scale mining operations can have adverse environmental consequences, and the supply of some rare earth metals is running low. Saying that there is an urgent need for a more sophisticated approach to recycling the planet's increasingly sophisticated products, the UN suggested
that mining companies be enlisted to help sort out valuable metals when the products reach the end of their usefulness.
22 Apr 2013:
Green Energy Investments
To Triple by 2030, Analysis Predicts
Annual investment in renewable energy is predicted to triple between now and 2030
, according to a report by Bloomberg New Energy Finance. In an analysis
of several factors shaping the global energy future —
First Solar Inc.
including economic conditions, market demands, and the evolution of technologies — the group predicted that annual spending may increase from $190 billion last year to $630 billion by 2030. A key factor in the growth is the plunging cost of wind and solar energy, which in the short term has bankrupted many manufacturers. The Bloomberg report also forecast significant growth in hydropower, geothermal, and biomass sources of energy. In the most likely scenario, 70 percent of new power generation capacity between 2012 and 2030 would come from renewable sources — with wind and solar accounting for 30 and 24 percent, respectively — while only 25 percent would come from fossil fuel sources.