By Dana Blankenhorn, Seeking Alpha:
Notice I didn’t say they called them profitable.
The International Energy Agency’s decision to start reporting on renewable energy is a milestone. The IEA says it will start generating regular reports on renewables alongside its current work on oil, gas, and other conventional fuels.
And the first such report has some startling conclusions. Most of the growth in this sector over the next five years will come from the developing world. Solar systems could represent one-sixth of the global heating-and-cooling market. The energy produced by the sector will grow 40% over the next five years. This is big news, because as the report notes half of all energy consumed in the world goes to heating or cooling.
This doesn’t mean the sector is profitable. The situation hasn’t changed much since February when TheStreet.com ran a piece on the 10 largest renewable ETFs, all of whose charts look like the business end of a roller coaster… Read more