Banking giant Morgan Stanley is swinging some big numbers around at the moment. It reckons sales of renewable energies could grow to as much as $1 trillion by 2030.
“The global risks posed by climate change are driving spending and investment in clean energy solutions, which (unlike the oil shock that spawned the first wave of energy solutions in the 1970s) is durable and accelerating,” Morgan Stanley said in the note.
As might be expected, all this is attracting the big dollars right now:
Global investment in renewable energies jumped to a record $100 billion in 2006 and will likely rise to about $120 billion in 2007, the U.N. Environment Program said this summer.