In 2012, renewable energy – largely wind and solar – accounted for nearly 50 percent of all new electric generation put on the U.S. grid, found a new Ernst & Young report. About 13.1 gigawatts of wind were added to the grid last year, as well as 3.3 gigawatts of photovoltaics (PV).
Michael Bernier of Ernst & Young said, “What’s important to note is that the $44.2 billion invested is not representative of the industry’s true expansion. Solar technology, for example, is increasingly cost effective. As prices fall, the initial investment goes a lot further.”
As for the future, the report says “new financial structures to find residential and commercial solar may gain traction, making it easier for companies to finance solar.”
Read the full article at Renewable Energy World.