Pew Charitable Trusts to invest $1.9 trillion in alternative energyJanuary 23, 2013
Developers and financiers involved with Pew Charitable Trusts will support alternative energy
The Pew Charitable Trusts, a non-profit organization devoted to improving public policy and stimulating civic life, has announced that various developers and financiers will be investing more than $1.9 trillion into the alternative energy sector over the next five years. These investments will help fund the development and deployment of new alternative energy systems. Several investors are expected to focus heavily on solar and wind energy, as these two sectors account for the major of the alternative energy capacity in the U.S.
Demand for power is growing
Demand for electricity is growing at a rapid rate and may soon exceed the country’s ability to supply through the use of fossil-fuels. Alternative energy has become quite popular in light of this demand, partly because of the fact that solar and wind are not finite resources. According to The Pew Charitable Trusts, the development costs associated with various forms of alternative energy will reach $327 billion by the end of 2018, up from the $200 billion they saw in 2012.
Research shows that energy consumption is on the rise
A recent study from Pike Research suggests that global energy consumption will increase by 47% between the years of 2010 and 2035. The report also predicts alternative energy investments to reach $5.9 trillion over the same period. The Pew Charitable Trusts will play a role in the growing support of alternative energy with the help of its considerable financial and industry resources.
Government policies may dictate the course of alternative energy
The organization suggests that the alternative energy field will continue to evolve as the world’s governments get more involved in the matter. The costs associated with alternative energy are expected to continue falling as developers and invested parties make technological and scientific breakthroughs in the field. The Pew Charitable Trusts notes that all countries should have some kind of national energy policy in place, otherwise they will be ignoring the potential threats presented by the finite nature of fossil-fuels and old technology.