Favourable forecast for renewable energy markets in 2011

Positive signs of recovery of the global clean energy market will continue to be seen also in 2011, according to forecasts by Kachan & Co., a US consulting firm that specializes in green technologies.

Specifically, energy efficiency (including smart grid technologies) will play the largest role in 2011, thanks to the consistent investment announced in the United States and Europe, as well as in some large emerging countries such as Russia, which has recently launched an ambitious energy efficiency plan.

Forecasts for 2011 are positive also with regard to renewable energy production. Not only concerning international commitments motivated by environmental and climatic conditions, but also – according to Kachan – because the recovery of global economy suggests a further increase in oil prices, which in turn will lead to greater competitiveness of renewable energies.

Moreover, it must be noted that, although Kachan is optimistic as regards the recovery of the international economy, it also emphasizes the persistence of various factors that could slow it down or even trigger a new crisis. In any case, however, it considers that the growth of the renewable industry cannot be stopped in China, which became world leader in 2010 and will widen the gap with other major countries in 2011.

In this regard Kachan stresses that the Chinese market for clean technologies is not only the largest in the world, but also the fastest growing, offering great development opportunities also to Western companies that will be willing to commit to accept the challenge.