In the past, plunging gas and oil prices hurt the clean energy sector, making conservation less compelling, alternative technologies less competitive, and new investment rare.
But in this cycle, it’s all changed. Despite the dramatic fall in oil and gas prices over the past year, bankers, venture capitalists, governments, and traditional energy companies continue to pour money into clean energy products and projects, from massive wind and solar farms to energy efficient technologies to small hydroelectricity projects.
Global investments in clean energy hit a record $329 billion last year, up 4 percent from 2014, according to data from Bloomberg New Energy Finance, a research unit of Bloomberg LP, the financial news and information company. US investments in the sector jumped to $56 billion last year, up 7.6 percent compared with 2014.
These impressive figures are perhaps the clearest sign that clean energy has turned the corner, no longer just a boutique industry with small, experimental companies, but rather a rapidly maturing sector that is going big time, fast. Instead of startups with possibility, the bulk of the money — nearly two-thirds of global clean energy investment — is going to utility-scale projects, particularly solar and wind installations that can generate power for tens of thousands of homes.
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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc