• 2 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 7 minutes Sources confirm Trump to sign two new Executive orders.
  • 2 hours In a Nutshell...
  • 2 days No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 1 day Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 4 hours Is the oil & gas industry on the way out?
  • 2 days The Coal Industry May Never Recover From The Pandemic
  • 2 days A Real Reality Check on "Green Hydrogen"
  • 3 days Why Oil could hit $100
  • 1 day Where is Alberta, Canada headed?
  • 2 days Putin Paid Militants to Kill US Troops
  • 2 days During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 3 days Why Wind is pitiful for most regions on earth
Who Will Get Full Control Of Libya’s Oil Riches?

Who Will Get Full Control Of Libya’s Oil Riches?

Libya’s conflict is wide-open again,…

China Grants First-Ever Fuel Export License To Private Refiner

China Grants First-Ever Fuel Export License To Private Refiner

Private Chinese refiner Zhejiang Petroleum…

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