The Green New Deal That the Market Loves
AXIOS | Wed, Feb 27, 2019
by Dion Rabouin
While the Green New Deal is drawing both devotees and detractors on Capitol Hill, green energy is seeing nothing but love in the market.
Driving the news: The International Energy Agency reports that electricity investment has shifted towards renewables, networks and flexibility, while investments in coal dropped by a third in 2017. It's the second year in a row coal- and gas-fired power generation has seen a pullback.
Why it matters: That's got market analysts at UBS betting on renewable energy. They expect cumulative investment in renewable energy will exceed $9 trillion by 2050 and cumulative investment in clean-air technologies and energy efficiency will rise to $35 trillion between 2015 and 2030.
- "We think the renewables longer term investment theme has great potential, particularly for project developers and wind turbine manufacturers," UBS analysts said this week in a note to clients. "Clean air, energy efficiency and storage, and electric vehicles are topics closely linked to the theme."