Renewable energy sector growing

The global renewable energy sector is growing, new figures have revealed, signalling a 54 per cent increase in demand in the past year alone.

IMAP's 2010 Alternative Energy Global Report shows that the number of mergers and acquisitions in the market grew, suggesting confidence from investors in the sector.

This in turn could bring down the cost of energy products, and through investments from utility companies, could also reduce fuel bills.

The report showed that the total transaction value of investor deals over the past 12 months came to $20.4 billion (£13 billion), with China leading the way with the highest investment value.

Europe had the largest number of transactions; however they were of a lower value.

Ketil Wig, chairman of IMAP's Energy & Power Industry Group, commented: "The cost of clean technologies is decreasing and these technologies are being utilised in more applications.

"Within the next decade, we expect solar photovoltaic (PV) installations, smart meters, energy storage devices, wind turbines and other clean technologies to become commodities and help the market to mature."


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