Overview of Renewable Energy in the US

摘要

As the US looks forward to its energy and environmental future, it will need renewable energy to achieve national security, maintain adequate energy supply, sustain strong economic growth, and achieve environmental quality. Europe and Japan are leading the way on putting renewable energy into use. The US is now emerging, with leadership coming from state & local governments. Nationally, the US is approaching a turning point, shifting to the next 30 years of renewable energy policy, called Phase II. One of the key elements of this shift towards a new policy paradigm is the "new economics" of renewable energy - mechanisms like Renewable Energy Credits that monetize the environmental and other attributes of renewable energy. 2005 appears to be the year when renewable energy is for the first time entering the mainstream on Wall Street, and we are seeing more financial service firms committing greater resources. And beyond the US, there are ever more opportunities in this USD25 billion market. The outlook is positive. We subscribe to the early Shell scenarios which conveyed a future of renewable sources of energy contributing as much as 50% of world energy supply by 2050. Achieving this level, however, will not be easy, as we face enormous challenges. We will need a positive, stable and predictable public policy; a strong and profitable renewable energy industry; and a sound relationship with the financial community.