• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 5 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 10 hours America's pandemic dead deserve accountability after Birx disclosure
  • 4 hours Putin blocks Ukraine access to Black Sea after Joe blinks
  • 1 day Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 17 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 days Fukushima
  • 3 days CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 18 hours Biden about to face first real test. Russia building up military on Ukraine border.
Why Iran’s Return To Oil Markets Isn’t A Major Threat

Why Iran’s Return To Oil Markets Isn’t A Major Threat

Iran’s potential reentry to oil…

Iran Says It Welcomes Talks With Saudi Arabia

Iran Says It Welcomes Talks With Saudi Arabia

Iran welcomed on Monday the…

Yergin: Oil Prices Could Go As High As $75 In 2022

Yergin: Oil Prices Could Go As High As $75 In 2022

IHS oil expert Daniel Yergin…

Charlotte Dudley

Charlotte Dudley

Charlotte is a writer for Environmental Finance.Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance, investment…

More Info

Premium Content

US Doesn’t Need Cap and Trade to Grow Low-Carbon Market

The value of the low-carbon energy market will almost triple by 2020, even if the US does not introduce a comprehensive cap-and-trade programme, an HSBC report says.

The report – which outlines various pathways for clean energy generation and energy efficiency measures over the coming decade – says the annual value of the low-carbon energy sector will leap from $740 billion in 2009 to between $1.5 trillion to $2.7 trillion in 2020, with $2.2 trillion the most likely figure.

Under the report’s most likely scenario, the US low-carbon energy market will grow by 10% compounded annually over the next decade, to a value of $451 billion by 2020. The growth is due to improved building and industrial efficiency, increased renewable energy generation and innovations such as electrical vehicles, and does not depend on having a comprehensive cap-and-trade programme in place.

“In this scenario, we are not expecting an economy-wide cap-and-trade system to be introduced this decade; a utility-only cap is more plausible,” the report said, although HSBC does expect federal clean energy incentives to be introduced, along the lines of the Lugar bill which aims to expand nuclear and renewables energy and cut greenhouse gas emissions.

Globally, China will overtake the US in terms of low-carbon energy market share, with the Asian nation increasing its current 17% share to 24% by 2020. The US share will dip slightly from 21% in 2010 to 20% in 2020 while the EU will remain the market leader, albeit with a reduced share from 33% today to 27% in 2020.

The report defines the low-carbon energy sector as that of the renewable and nuclear energy sectors, carbon capture and storage, and energy efficiency measures across the building, industrial and transport sectors.

By. Charlotte Dudley

Source: Environmental Finance


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News