US Renewable Energy Investments Soar
|Source: Wind, Solar Energy Stock Image|
Wind and Solar Lead the Way
Despite the Trump Administration's views on Climate Change and renewable energy, US companies broke records in their investments in green technology in 2019. Investments hit $55.5 billion, which is up 28%. That catapulted the US to second place in renewable energy investments behind China, whose financial bet on renewables fell 8% to $83 billion. Clearly, China remains the far ahead leader in pushing renewables. Europe's renewable energy investments fell 7% to $54 billion, right behind the US. Interestingly, Brazil's financial investment soared by 74% to $6.5 billion. The data was collected by Bloomberg.
New Green Energy Technologies
The big investment push in the US for new renewable energy technologies and expansions is by wind and solar energy companies. They're rushing to qualify for federal tax credit that end later this year. There is growing sentiment across the US that renewables are preferable, clean and green energy sources. Many electric utilities are investing in new renewable energy technologies. Rhode Island just announced plans to have 100% renewable energy power by 2030. And tech giant Apple wants to be powered by renewables globally. Renewable energies are getting a big green light.