Renewable Energy Will Shrug Off Oil Slump, Say Analysts
Highlights The North American Free Trade Agreement (NAFTA) is a trade agreement between the countries in North America: the US, Canada and Mexico. The renewable energy industry within the NAFTA countries had a total market value of $96,374.6 million in 2013. The Canada was the fastest growing country, with a CAGR of 9.8% over the 2009-13 period. Within the renewable energy industry, the US is the leading country among the NAFTA bloc, with market revenues of $51,486.8 million in 2013.
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Because oil produces only 1 percent of U.S. electricity, the crude plunge thats roiling markets should have only a modest effect on clean-energy developers or the companies that equip them, Bernstein said in a telephone interview. I dont want to be dismissive of the impact of declining oil and gas commodity prices on renewable energy, Bernstein said. But they will have a very small impact on the long-term cost of electricity. Clean energy attracted a total of $310 billion in investment last year, up from $268 billion in 2013 and the first increase in three years, according to Bloomberg New Energy Finance.
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