First up a press release from New Energy Finance via MarketWatch:
A new long-term projection model from Bloomberg New Energy Finance, the world's leading independent expert on renewable energy and carbon markets, shows that annual global expenditure on renewable energy projects will increase from $90 billion (USD) in 2009 to $150 billion in 2020. The model shows that this will further increase to $200 billion by 2030 given current policy targets.The new findings apply the Bloomberg New Energy Finance Global Energy and Emissions Model GE(2)M, which is a long-term projection model covering the entire world energy system. The new model is able to forecast investments levels, technologies and policy options required to meet energy and emissions goals.
The Findings
The Bloomberg New Energy Finance model projects that by 2020 renewable energy will make up 22% of the world's installed power generation base, up from 13% today, and that it will constitute 31% of power by 2030....MORE
From Bloomberg via BusinessWeek:
General Electric Co., the world’s second-biggest wind turbine maker, said it expects global industrywide sales for land-based wind turbines to grow by $130 billion in the next two years.
Canada and Latin America are expected to lead the growth, with Canada’s market delivering a 40 percent compound annual growth rate and Latin America growing by 70 percent, Victor Abate, who runs the company’s renewable power unit said. Eastern Europe may grow by 28 percent, and the China and India markets may each rise about 20 percent, Abate said at the Annual International Strategy & Investment conference, which was also Webcast.
GE, which ranks second to Denmark’s Vestas Wind Systems A/S in turbine sales, can expand its wind business quickly because it uses its own design and local suppliers to make parts such as blades, Abate said.
“Our differentiation is supply chain,” Abate said. “We can quickly get factories up and running in these new markets.”
GE’s wind turbines have a 98 percent so-called availability, a term measuring the turbine’s ability to capture available wind. That’s up from 94 percent in 2006 and from 85 percent in 2002 when GE acquired the business from Enron Corp.’s bankruptcy proceedings, he said.
Better Efficiency
Each percentage point in efficiency improvement translates to a $250 million costs savings for GE’s customer base, he said. The number of U.S. homes supplied with electricity from one of GE’s 1.5 megawatt land-based wind turbines has risen to about 600 from about 420 homes in 2002, Abate said....MORE
