The current financial crisis has some German experts worried about a cut in renewable energy funds. But industry professionals say that no matter which way the wind turns, the turbine blades will keep churning. Skyrocketing oil prices and a greater attention to the problems created by greenhouse gases has helped the renewable energy market in Europe to boom over the last decade. Thanks to strict government regulations in Germany and lofty goals for cutting carbon emissions across the EU, solar and wind technologies have seen over a decade of innovation and created a new, profitable market. According to the market research company New Energy Finance, 2007 saw worldwide investments in clean energy climb to $148 billion (118.2 billion euros). Now with banks' money woes seeping into nearly every industry, some say that investors' love affair with renewable energies may be ending and Germany's place as an industry leader is threatened.
Skyrocketing oil prices and a greater attention to the problems created by greenhouse gases has helped the renewable energy market in Europe to boom over the last decade. Thanks to strict government regulations in Germany and lofty goals for cutting carbon emissions across the EU, solar and wind technologies have seen over a decade of innovation and created a new, profitable market.
According to the market research company New Energy Finance, 2007 saw worldwide investments in clean energy climb to $148 billion (118.2 billion euros).
Now with banks' money woes seeping into nearly every industry, some say that investors' love affair with renewable energies may be ending and Germany's place as an industry leader is threatened.
