
Global investment in renewable energy infrastructure is expected to double over the next 10 years, according to a report from Bloomberg New Energy Finance.
According to the report, called the "Global Renewable Energy Market Outlook," global investments will increase to $395 billion by the year 2020 and continue increasing to $460 billion by 2030.
"One of the most startling statistics is that around 40 percent of global power demand will come outside the EU, North America and the BRIC [Brazil, Russia, India and China] countries," said Guy Turner, the director of commodity market research at BNEF, to BusinessGreen. "There is going to be huge growth in markets such as Indonesia, Vietnam, Thailand, the Middle East, Africa and Latin America."
The report predicted that despite the European renewable energy market declining because of the troubled economy, North American projects won't experience a major slow down in progress.
The halt in production by Europe will likely allow China to overtake Europe as the lead market for renewable energy asset finance by 2014, the report stated.
Green energy accounted for 8 percent of the energy used in the United States in 2009, according to the website Organic Soul.

