Clean-tech spending jumped to record high in 2010

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Investments in clean technologies soared to $243 in 2010, well above the $186.5 billion spent in 2009, says a new study report from Bloomberg New Energy Finance (BNEF). The study addressed investments in renewable energy, smart grid equipment, biofuels, energy efficiency and carbon capture and storage. While that's good news, BNEF CEO Michael Liebreich was quoted in Business Green as saying that doesn't guarantee continued smooth sailing. He said the investment peak does suggest that the spending level could mean the market is on track to reach spending levels needed to lock in a carbon emissions peak by 2020, but cautioned that the level of investment could drop as governments begin to pull the subsidies enacted to help support the sector. He also cautioned that the cost of clean technologies needs to come down to ensure continuing investment growth. Liebreich added that the numbers indicate, for the first time, the market is halfway toward meeting the $500 billion annual investment level needed to reach the carbon emissions peak. From where we sit, the study underscores the many, many variables that can influence the success of the smart grid initiative.

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