There are times when the amount of money required to develop renewable energy supply can seem daunting and the sources of financing scarce. However, that has not been that case in the renewable energy sector of late, with another sign that diversified financing sources are seeing the potential of green energy including photovoltaics.
Goldman Sachs is the most recent to join the list of diverse companies or investment banks making funds available for renewable energy and solar. Google, Warren Buffetts MidAmerican Energy Holdings and now Goldman Sachs have all been making solar and renewable energy a priority investment in recent months.
Last week Bloomberg New Energy Finance reported that it was observing a transformation in solar financing, as investors and companies were both attracted to renewable investments in a "continuing low interest rate environment". Describing it as being, "in the midst of a transformation", Bloomberg covered the transition in its report, "Re-imagining US solar financing".
The Goldman announcement, as reported by Reuters, is that it will make investments into renewable energy both with client and company funds. The announcement was expected to be made at the companys annual meeting last week.
The banks US$40 billion funding target will apply to investments in solar, wind, hydro, biofuels, biomass conversion, energy efficiency, energy storage, green transportation, efficient materials, LED lighting and transmission. Because the investment targets are diffuse and the target US$4 billion a year, some analysts have interpreted the decision as "greenwashing" or only superficial.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.