According to the head of GE's renewable energy group, US renewable energy could quadruple -- or at least double -- in the next 10 years, from where we currently sit at 2.5%. This is the kind of news that it's hard to know how to take. Quadrupling the amount of renewable energy over the course of a decade seems a little bit behind schedule -- doubling today's puny levels seems downright pathetic.In 5 to 10 years, renewable energy will make up about half of GE portfolio -- they're currently pouring $6B into renewable energy. While that's an impressive corporate transformation, it also highlights the cost effectiveness of renewable energy at the point in time -- not so good. Companies like Google are pouring hundreds of millions into green technology, vowing to bring prices down. In the meantime, progress is discouragingly slow.
If we're looking at 10% in 10 years, at best, that probably means that some kind of stop gap measure will be necessary, rather than just wait around for renewable energy to reach critical mass. Maybe that means Geldof and the nuke people are right, although the thought of nuclear reactors everywhere might not sit well with all of us.
Whatever the case, it seems obvious that 10% isn't going to cut it. Personally, I don't think anything less than 25% is going to feel very substantial. It's going to take much more ambitious goals in order to spark the kind of effort that will bring clean energy into the dominant position.
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