Wind and solar energy are both set for fast-paced growth over the next few years. Investment in technologies like wind, solar, and electric vehicles is up 22% over Q1 2013. Additionally, according to the latest market reports from the International Energy Agency, renewables are expected continue to grow over the next five years– finishing second only to coal in net power generation.
In the US, the combination of extended tax credits for wind power and a rebound in clean-energy share prices were main catalysts for such positive numbers.
Additionally, while Europe’s clean energy push begins to plateau in the face of shrinking subsidies, other major international powers have ramped up their clean energy markets. Chinese investment performed exceptionally well this quarter, rising 63% and totaling nearly $13.8 billion USD. South Africa has also shown greater interest in the clean energy market, investing almost $3 billion USD this quarter.Read more here.