A bearish market for renewables

The stock market has sure been sluggish in recent years.  But it hasn’t only been retirement portfolios experiencing a drop, as the use of renewable sources of electricity has also sharply declined.  This according to the New York Times, which recently reported that despite high expectations, renewable energy has slid in overall use for three consecutive years.  The Department of Energy recently stated that solar equipment, for example, is being retired faster than it is being built.  And the use of biomass,  hydropower, and alcohol fuels have also shown steady declines in production.  With overall consumption of renewable energy dropping by 12 percent, it seems the economic winds of fortune won’t be generating a renewable renaissance anytime soon!

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About the Author: CFACT

CFACT defends the environment and human welfare through facts, news, and analysis.