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Several Factors Driving Growth in Renewable Energy

Global investment in renewable energy development in 2015 was more than double that of coal- and gas-fired sources, and a whopping $2.3 trillion has been invested in renewables since 2004.

By Natalie Dolce | nataliedolce | | Updated on July 27, 2016

Several factors are driving growth in renewable energy, including the recent extension of investment and production tax credits by Congress, major utilities expanding their portfolios, and private equity firms acquiring and developing assets in the sector. That is according to GlobeSt.com sister publication, ALM’s PropertyCasualty360.com. According to a recent article, global investment in renewable energy development in 2015 was more than double that of coal- and gas-fired sources, and a whopping $2.3 trillion has been invested in renewables since 2004. The article says that activity in solar is also being propelled by regulation at the state and local level, such as San Francisco’s building ordinance passed earlier this year requiring that roofs of all new homes and businesses under 10 stories include solar panels for electricity or heating starting in 2017. Below, a summary of findings on the renewable energy market. chalkboard-page-001

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