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Write a 3 page essay on Renewable Energy.The trend of FDI is common among developed countries of the world including the United States. In the US, technologies have been developed and utilized efficie
Write a 3 page essay on Renewable Energy.
The trend of FDI is common among developed countries of the world including the United States. In the US, technologies have been developed and utilized efficiently to meet the needs of renewable energy in the country (Nations, 2010). However, with the increasing population and their demands of daily use for home, businesses and transport, it has become important to secure basis for the USs future energy needs and so the need of FDI in the energy sector.
In an official report by OCO Global (2012), it was stated that the United State is facing challenges and lack of opportunities in terms of Foreign Direct Investment. Though, during the government of former president Bill Clinton it was noticed that $1 billion were invested in coal plant and a great many improvements had been made in solar and wind turbines. It is evident from the fact, at that time 1900, jobs were opened in solar energy sector and 3,300 jobs were offered in wind turbine sectors of energy industry.
FDI market reports have revealed that there is an exceptional form of political and social force that prop up the development and evolution of renewable energy sources. On the other hand, it has been evaluated by the researchers that political leaders of the US and other countries as well emphasize on clearer and more sustainable sources of renewable energy that can help the country to fulfill future needs of the population (Energy Politics, 2012). AEO (2012) report discusses that previous and present both governments has always targeted to have set goals, when it comes to alternatives for renewable energy sources. Likewise, in the United States the New Energy for American program has a 25 percent target for coming years particularly focusing 2025.
Payne and Yu, (2011) report discusses that an increasing flow of FDI in the United State can potentially accelerate the economic growth and
