High oil prices and an array of government incentives are leading to soaring rates of investment in renewable energy, according to a news report from PRNewswire.
According to the information, the United Nations (UN) annual Global Trends in Sustainable Energy Investment report calculates global investment capital flows into renewable energy companies reached $100 billion for the first time in history last year. More than $30 billion of the total was the result of mergers and acquisitions led by investment banks such as JP Morgan and Goldman Sachs.
"The finance community has been investing at levels that imply disruptive change is now inevitable in the energy sector," says Eric Usher, head of the energy finance unit at the UN. Usher said the UN's "report puts full stop to the idea of renewable energy being a fringe interest of environmentalists. It is now a mainstream commercial interest to investors and bankers alike."