by Ken Bradley, senior policy associate, Fresh Energy

According to Reuters, United States bank Morgan Stanley released a report in October that wind, solar, geothermal, and biofuels have the potential to grow into a $1 trillion industry by 2030.From the report: “The global risks posed by climate change are driving spending and investment in clean energy solutions, which is durable and accelerating.”

In 2006, the United States gross domestic product hit $13.2 trillion, the world’s largest economy. According to Morgan Stanley, the clean energy market could reach $505 billion in revenues by 2020, or nine times the 2005 level, and hit $1.02 trillion 10 years later.

Many investors may be surprised that the bank anticipated solar power to lead growth in the electricity sector—shooting from nearly un-measurable levels in 2005 to 11.2 percent in 2030. At the same time, wind power revenue could go from 0.9 percent to 9.6 percent.

The United Nations Environment Program reported this summer that global investment in renewable energies jumped to a record $100 billion in 2006 and will likely rise to $120 billion in 2007.

Clean energy is the way to go for people who want to invest in the fight against global warming…and who want to retire in comfort.

This entry was posted on Thursday, November 1st, 2007 at 3:02 pm by Fresh Energy and is filed under Energy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.