The value of renewable energy deals worldwide increased 40 percent in 2011, as solar, wind, and energy efficiency investments surpassed hydropower for the first time, a new report says. According to a report by PriceWaterHouse Coopers, deals for renewable energy reached $53.5 billion last year, compared with $38.2 billion in 2010, a rate of growth that reflects a maturing market. While hydropower projects have historically dominated deal flow in the renewable energy sector, wind, solar, biomass and energy efficiency outnumbered hydro seven to one in 2011, the report said. “The trend is all the more noteworthy given the uncertainy in the market and in government policies on renewables,” Paul Nillesen. PwC’s renewables partner, told Reuters. “We believe that deal flow will continue to be significant in the medium term.” In the U.S., energy developers installed 6,810 megawatts of new wind capacity in 2011 — 31 percent more than in 2010 — as the industry sought to capitalize on an expiring federal tax grant, according to a separate report.
Renewable Energy Deals Surged 40 Percent in 2011, Report Says
More From E360
-
Food & Agriculture
In War Zones, a Race to Save Key Seeds Needed to Feed the World
-
Climate
Lightning Strikes the Arctic: What Will It Mean for the Far North?
-
RIVERS
A Win for Farmers and Tribes Brings New Hope to the Klamath
-
Solutions
Deconstructing Buildings: The Quest for New Life for Old Wood
-
NATURAL DEFENSES
How Restored Wetlands Can Protect Europe from Russian Invasion
-
Solutions
Birds vs. Wind Turbines: New Research Aims to Prevent Deaths
-
FORESTS
Cambodian Forest Defenders at Risk for Exposing Illegal Logging
-
OPINION
The ‘Green’ Aviation Fuel That Would Increase Carbon Emissions
-
CONSERVATION
Out of the Wild: How A.I. Is Transforming Conservation Science
-
Energy
China’s Mega Dam Project Poses Big Risks for Asia’s Grand Canyon
-
Solutions
How Natural Solutions Can Help Islands Survive Sea Level Rise
-
INTERVIEW
Will U.S. Push on Seabed Mining End Global Consensus on Oceans?