1
2
3
4
5

Renewable Energy – bubble or commitment?

Is renewable energy the new bubble or are we making an ongoing commitment to limiting global warming?

The Paris Agreement was open for signatures April 22, 2016 and sets out a global action plan that limits global warming to avoid dangerous climate change.  The agreement is due to enter force in 2020.  176 states and the European Union have signed the agreement.

Total Energy SA, a global, integrated energy producer and provider, recently announced it would create a gas, renewable energy and power trading unit. Toward that end Total has agreed to buy Saft Group SA , a French firm that makes batteries for industrial use by telecommunications, railway and aerospace companies, to accelerate its development in clean energy.

Bank of America has upped the amount committed to environmental business initiatives.  Bank of America has also issued “green bonds” to finance environmentally sound projects.

Dong Energy, an integrated energy company based in Denmark, is developing a multi million dollar wind farm off the Yorkshire coast.  Don Energy is also expanding in to Taiwan and the US.  The US plan includes a 1 gigawat Bay State Wind Farm off the coast of Massachusetts.

Saudi Arabia has created an energy ministry to cut state spending and diversify its economy beyond oil.  Khalid al-Falih, chairman of the state oil giant Saudi Aramco, has been appointed as the new energy minister.

With all this and much more activity are we heading into a renewable energy bubble?  Will the bubble burst or are we on our way to reaching the commitment made in Paris to reduce carbon emissions?

Level: 

Add new comment