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Home Demand & Distribution Auto & Alternative Vehicles

U.S. Banker Puts PV and Solar ‘On Par’ With Shale Oil

December 4, 2015
Reading time: 1 minute

succo / Pixabay

succo / Pixabay

 

A report issued this week by Goldman Sachs, the giant U.S. investment bank with $856 billion in assets and close ties to successive American administrations, puts “the phenomenon of solar PV and onshore wind on par with U.S. shale oil production.”

succo / Pixabay

The Goldman Sachs report identifies four technology fields that have the best balance between lowering carbon emissions and making a profit for investors. According to Goldman Sachs, they are: solar PV, onshore wind, LED lights, and electric vehicles. Those “front-runners” are attracting US$600 billion a year in new investment–and make up the majority of low-carbon private financing, Goldman Sachs reports.

Lesser amounts are going into other low-carbon technologies that so far “lack the scale or the momentum to drive significant large-scale global change.” This second group includes: biofuels, large hydro, carbon capture, marine power, and offshore wind.  

But it’s on-shore wind and solar that will “account for over half of capacity-adjusted new installations in electricity generation capacity by 2025,” the report forecasts.



in Auto & Alternative Vehicles, Bioenergy, CCS & Negative Emissions, Climate & Society, Community Climate Finance, Demand & Distribution, Fossil Fuels, Hydropower, Jurisdictions, Renewable Energy, Solar, United States, Wave & Tidal, Wind

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