Sustainable Energy Stocks Soar
Oil is nearly $100 a barrel; social unrest continues to unfold in the Middle East; natural disasters are hitting Japan. Even as the world faces these crises, those following the green energy market can rejoice. Sustainable energy stocks are soaring and we may have the aforementioned crises to thank. As new concerns with energy and oil emerge along with the continued shift in weather patterns world-wide, investors are looking to green energy as an alternative.
According to the World Economic Forum, investments in sustainability and renewable energy reached $243 billion in 2010, a 30% rise from 2009. Investment across Europe, the Middle East and Africa rose to $94.4 billion, while North and South America saw an increase of $17 billion. Pacific nations saw an increase of $83 billion. Overall, the renewable energy sector has seen a 630% growth since 2004. And despite the lack of federal climate and energy legislation in the United States and elsewhere, economists predict that the rising costs of energy will further increase the demand for renewable energy options, making investments in the sector extremely lucrative.
Photo credit: Marie Swartz