Global investments in alternative energy projects will rise nearly 50 percent in 2010, climbing from $130 billion this year to $200 billion next year.
In a survey of the green energy market, Bloomberg Newsreports that despite the dim prospects of forging a climate treaty inCopenhagen this month, companies and governments are moving rapidlyahead to build wind power farms, large solar arrays, and other greenenergy projects. Thanks in large part to state-funded economic stimulusprograms, government spending on green energy will more than double in2010 to about $60 billion, according to the report. Analysts said thatwith China, the European Union (EU), and individual U.S. statesaggressively adopting regulations and incentives promoting greenenergy, the field will continue to rapidly develop even if a globalclimate treaty is not signed. “Country by country, state by state,regulations will continue to spur demand independent of what mighthappen in Copenhagen,” said one U.S. clean technology analyst. Majorrenewable energy projects are now underway across the globe, Bloomberg reported, including a $900 million offshore wind farm being built by CLP, Hong Kong’s biggest electricity supplier.