The plunge
in the cost of wind and solar power that bankrupted more than two dozen
manufacturers is forecast to spur a tripling of investment in renewables by
2030 and to reduce the grip fossil fuels have on world energy supply.
Annual
spending on clean-energy projects that don’t add to greenhouse-gas pollution
may rise to $630 billion at the end of the next decade from $190 billion last
year, Bloomberg New Energy Finance said in a report today. That’s 37 percent
more than estimated in November 2011 and means renewables would account for
half of all generation capacity by 2030.
