GE is one of the largest supporters of renewable energy in the worldMay 21, 2014
GE has invested more than $10 billion in clean energy projects globally
General Electric has become one of the most prolific supporters of renewable energy in the world. Through GE Energy Financial Services, General Electric has invested more than $10 billion into the renewable energy sector worldwide. The investments that the company has made have gone a long way in bringing various energy projects to completion and have helped modernize the energy infrastructure in many countries. Moreover, these investments have also produced economic activity and helped reduce emissions in some parts of the world.
Wind energy finds favor with General Electric
GE Energy Financial Services expects to continue investing some $1 billion into wind, solar, and various other forms of clean energy each year for the foreseeable future. GE’s investments have brought some 12 gigawatts and 1 gigawatts worth of wind farms and solar farms online, respectively. The company has a particular interest in wind energy because it also produces wind turbines. GE’s turbines have been used in many wind projects throughout the world. Altogether, GE’s investments have supported energy projects in 16 different countries and 28 states in the U.S.
New energy projects help create jobs and spur economic activity
According to GE, the projects that it has invested in have displaced some 26 million metric tons of emissions, which is the equivalent of removing 5.6 million vehicles from the roads. In the U.S., these projects have also created more than 10,000 jobs, generating a significant degree of economic activity throughout the country. As GE continues its support of renewable energy, new projects will be completed and new jobs will be available for those looking for work.
Energy projects are finding more support from the private sector
General Electric is now considered one of the most aggressive supporters of clean energy and environmentalism. The investments that GE has provided to the clean energy sector have been invaluable as energy developers are beginning to rely more heavily on the private sector for funding. Some of the world’s governments have been cutting back on the subsidies they provide to clean energy projects, leaving these projects in tricky financial situations.