The wind, solar, biomass, and geothermal sector has grown in fits and starts — and now may have the momentum to become a self-sustaining industry.In 2007, renewable energy sources were poised for accelerated growth. Then the global economic downturn intervened, depressing energy demand in general and casting particular doubt on the business case for wind, solar, biomass, and geothermal energy. Now that the sector is beginning to grow again, some industry observers are still questioning whether the market is resilient enough to continue that growth, considering the volatility of energy prices and a shifting political climate. The answer is more optimistic than one might expect, because the market has evolved in several important ways during the last few years; it is unlikely to experience the periods of decline or stagnation we have seen in the past. One of the hallmarks of the renewables sector today is its structural diversity in terms of technologies, players, and geographic regions — and that will make all the difference.
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