10 Jun 2014

Solar money

Apparently, Barclays don’t fancy dirty power as a long term proposition. Have a look at Jessica Shankleman’s piece here http://www.businessgreen.com/bg/news/2347374/barclays-downgrades-us-power-sector-over-solar-threat to find out more details.

It’s one of those issues about the money industry - which might as well be an arcane form of magic for all the sense it makes it most of us. However, the way in which banks and investors imagine money and think the future will go tends to have massive impact on the rest of us, which makes it important to try and get a grip on this stuff. As far as I can make out its about how banks assess risk of bankruptcy in the future, and Barclays isn’t finding dirty energy so appealing or certain. Solar, they think, will change the market.

At present, a frightening number of decisions about the future of our planet, from local planning through fracking, exploiting the arctic and not facing up to climate change.. are all about short term profit. However, even the most profit driven people ought to be able to figure out that running out of finite resources in not a long term business plan. Renewable energy has to be the way forward, and if the people who lead financially are wising up to this, then there is something to be hopeful about.

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