As the turmoil continues in the world's financial systems and countries brace for an economic downturn, many environmentalists and green tech entrepreneurs are posing the question: How will this crisis impact the young renewable energy sector? Some worry that ambitious projects won't be able to get the financing they need from troubled banks wary of lending money, while others note that oil prices have dropped fast based on predictions of lower demand.
Advocates are concerned that if the prices for oil and gas keep falling, the incentive for utilities and consumers to buy expensive renewable energy will shrink. That is what happened in the 1980s when a decade of advances for alternative energy collapsed amid falling prices for conventional fuels [The New York Times].
In Europe, environmental ministers are meeting to finalize the European Union's goals for cutting the greenhouse gas emissions that cause global warming, but new discord has ...
