September 28, 2013
By: Giles Parkinson /REnew economy
Citi sees $5.7 trillion renewables opportunity – with no added grid costs
Photo credit: Paul Gipe, wind-works.org
Analysts at Citi have produced a detailed report which suggests another 900 gigawatts of solar installations, and another 1,500GW of wind farms could be installed around the world with little added cost to electricity grids. This amounts to an investment opportunity of $US5.7 trillion – and it only relates to those investments that can be achieved without much added expense to existing infrastructure.
The estimate is based on Citi’s assessment that most electricity markets could – on average – integrate 20 per cent of wind generation with little problem, and around 10 per cent of solar – although some generation assets are likely to find themselves stranded because they are being priced out of the market.