According to a recent Global Wind Energy Council (GWEC) report, the renewable energy sector has been able to weather the financial crisis well and is now attracting new lenders and capital. Through most of 2009, it seemed that investment in renewable energy was going to be lower than the previous five years. By the end of the year, however, the sector made a comeback, the GWEC report said.
The report pointed out that long-term prospect for renewables was good, and that the drivers that propelled the sector for the past five years were still at work: Climate change, long-term carbon price exposure, fuel price risk, energy security, fossil fuel depletion and energy access. According to the GWEC report, small, distributed wind projects looked more attractive to developers having to cope with siting, permitting and transmission challenges. However, the report underlined the need for measures to push the renewable energy industry to new levels of raising capital.
Picture from www.gwec.net