The Supposed Decline of Green Energy

Read the full post from Harvard Business Review’s Blog Network.

Here’s a surprising new fact about energy in the United States: the percentage of our electricity coming from the greenest sources — that is, the non-hydroelectric renewables such as solar, wind, geothermal and biomass — has doubled in just four years to nearly 6 percent. (Thanks to climate uberblogger Joe Romm for uncovering this data from the Energy Information Agency).

This significant win for clean energy has gone mostly unnoticed in the press. If anything, the story has been the opposite: recent reports herald the decline of wind, and for a year the media has made a big deal out of the demise of solar panel manufacturer Solyndra.

Given this negative drumbeat, it’s not surprising that the business world tends to perceive renewable energy as an altruistic, rather than fiscally prudent, investment. But this view is dead wrong. The renewable energy industry is growing very fast… and not because it’s a philanthropic effort.

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