Here's Where Goldman Sachs Sees a $3 Trillion, 20-
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Posted On: 06/10/2017 10:39:45 AM
Here's Where Goldman Sachs Sees a $3 Trillion, 20-Year Energy Boom
https://www.thestreet.com/story/14164757/1/eu...sachs.html
Quote:
European renewable energy will be cheaper than fossil fuels within six years, sparking a €3 trillion ($3.37 trillion), 20-year boom in green energy investment according to Goldman Sachs.
"An acceleration in the pace of cost reduction for renewables, particularly from wind, puts Europe on course to no longer require subsidies after 2023 to displace legacy power sources," the bank wrote in a report published this week. "We estimate a 48% average annual increase in wind and solar installations through 2036, and we more than double our estimates for growth in European wind turbine revenues."
The report adds fuel to the criticism of the Trump administration's apparent aversion to green energy and its backing for fossil fuels, and notably thermal coal. European politicians made the business opportunities presented by renewables a center piece of their lobbying for the U.S. to remain in the Paris Climate Accord, but failed to convince President Donald Trump who announced on June 1 he will withdraw the US from the agreement.
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https://www.thestreet.com/story/14164757/1/eu...sachs.html
Quote:
European renewable energy will be cheaper than fossil fuels within six years, sparking a €3 trillion ($3.37 trillion), 20-year boom in green energy investment according to Goldman Sachs.
"An acceleration in the pace of cost reduction for renewables, particularly from wind, puts Europe on course to no longer require subsidies after 2023 to displace legacy power sources," the bank wrote in a report published this week. "We estimate a 48% average annual increase in wind and solar installations through 2036, and we more than double our estimates for growth in European wind turbine revenues."
The report adds fuel to the criticism of the Trump administration's apparent aversion to green energy and its backing for fossil fuels, and notably thermal coal. European politicians made the business opportunities presented by renewables a center piece of their lobbying for the U.S. to remain in the Paris Climate Accord, but failed to convince President Donald Trump who announced on June 1 he will withdraw the US from the agreement.
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