Friday, October 26, 2007

$1 trillion green market seen by 2030-Morgan Stanley

From Reuters:

Global sales from clean energy sources like wind, solar and geothermal power and biofuels could grow to as much as $1 trillion a year by 2030, U.S. bank Morgan Stanley has estimated.

...On the market's upside, revenues could reach $505 billion in 2020, or nearly nine times the level in 2005, and hit $1.02 trillion 10 years later, the bank said.

...The bank also initiated coverage of the clean energy industry. It rated the following companies as overweight-volatile: thin film solar company First Solar Inc, solar company SunPower Corp, biofuel company VeraSun Energy Corp., and emissions reducers Fuel Tech Inc.

The report cautioned that sales could be reduced in the unlikely event that world governments change direction on climate change policy and stop taking steps to monetize greenhouse gas emissions. Peace in the Middle East could also push down oil prices, which could slow growth....MORE