April 2008 | By Javier Carrillo, Professor and Executive Director of the Centre for Eco-Intelligent Management at IE Business School
Renewable energies are revolutionizing the world energy scenario, bringing excellent business opportunities in Latin America, Asia and the US.
It is estimated that world investment in renewable energies broke through the $100,000 million ceiling in 2007, up 40% on the previous year. This trend promises consolidation in the context of unstoppable rises in oil prices and intense efforts to develop renewable energies by the industrialised nations committed to reducing their CO2 emissions.
The growth in turnover is being accompanied by a no less dynamic transformation of the structure of the sector, which is witnessing a progressive concentration of the ownership of once-independent companies in the hands of large multinationals. A growing number of participants in the renewable energy industry are also promoting the search for new opportunities in emerging markets and technologies. Special mention must be made of the Asian and Latin American markets as far as wind energy and biofuels are concerned. Outside the emerging countries, the United States market is also highly attractive, with a stable legislative framework that is becoming increasingly committed to renewable energies and offers an abundance of federal tax incentives for its development.Details