Renewable Energy In Growth Mode

Renewable energy around world expected to grow at 12% annually for next 20 years.

Published: 01-Mar-2002

NEW YORK, New York 2002-02-21 -- A consulting firm says the market for renewable energy around the world will grow at 12 percent a year for the next two decades.

The compound annual growth rate of 12 percent for revenues will be complemented by annual growth of 13 percent in installed capacity between 2001 and 2020, according to Frost & Sullivan in its analysis of renewable energy markets in Europe.

"Although unlikely to supersede conventional generation technologies, renewable energy sources are set for a greater role on the global energy supply stage during this century," it explains. "Governmental encouragement for greater investment in renewables and the growing recognition of the potential contribution of power generated from clean sources will give the market for alternative generation a much-needed fillip."

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