Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade
Green-energy investing will account for 25% of all energy spending in 2021 and, for the first time ever, surpass spending on traditional fuel sources like oil and gas,Should the US aim to hold global warming within 2 degrees Celsius, the pivot to renewable energy sources will create between $1 trillion and $2 trillion in yearly infrastructure spending, the team of analysts added, or an investment opportunity as big as $16 trillion through 2030.
Green technologies"are now mature enough to be deployed at scale," and the transition can benefit massively from cheap capital and"an attractive regulatory framework," according to Goldman.
"We believe this time will be different, especially for technologies that are now mature enough to be deployed at scale and can benefit from a falling cost of capital and an attractive regulatory framework, unlocking one of the largest infrastructure investment opportunities in history on our estimates," the team wrote.
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