Renewable Energy: $5 Trillion Needed

Globally, according to the International Energy Agency, a gross investment of $5 trillion is needed by 2020 in renewable power, energy efficiency, and cleaner transportation to contain rising temperatures.  Because anticipated savings in fuel of $4 trillion, the net investment required is about $1 trillion.  Such an investment would ensure that temperature gains since industrialization don’t exceed 3.6 degrees Fahrenheit.

The U.K. plans to offer £35 ($57) million to entrepreneurs who develop and demonstrating low-carbon technologies.  Deputy Prime Minister Nick Clegg also pledged £25 million for renewable energy in developing nations.

Source:  Alex Morales, Bloomberg, April 25, 2012.