Clean Energy Tech Spending Could Hit 7 Trillion By 2030

The CERA report, "Crossing the Divide: The Future of Clean Energy," argued that the "rapidly advancing new paradigms of climate change, energy security and policy implementation and cooperation" among the US, EU, China and others, "will produce a broad range of opportunities, risks and pitfalls as the modern energy industry increasingly moves to adopt clean technologies." The report found, among other things, that there is already a "bubbling" of clean energy "clusters," or places that are becoming concentrations of political, technical and financial clean energy experience, including Brazil in biofuels, Germany in photovoltaics and Spain in wind technologies. In addition, CERA said renewable power technologies are "poised for substantial growth," with wind energy likely to make the largest gains, followed by solar and biomass. Government policy, the report added, "remains the key driver" for advancing clean energy technologies, largely by putting a price on carbon dioxide emissions and providing subsidies to kick-start the technologies, CERA said. The expected growth in clean energy technologies will be driven by a number of factors, the report added, including oil and natural gas prices, the level of government financial support, the pace of technology innovation, economic growth and approaches taken by the so-called "Big Three" energy consumers -- the US, EU and China. ... http://www.platts.com/Electric%20Power/News/6753997.xml

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