Warren Buffett Ready to Double his Green Energy Investments to $30 Billion

Very large investments in renewable energy are needed as the U.S. progresses on the path of reducing dependence on fossil fuels. According to the EPA, electric utilities face cuts of 30 percent on carbon dioxide emissions by 2030 compared with 2005. On the other hand, costs continue to fall in wind and solar power generation, making them increasingly attractive energy investments.

At the recent annual convention of the Edison Electric Institute in Las Vegas, billionaire investor Warren Buffett announced that he wants to double the $15 billion that his company Berkshire Hathaway has invested so far in green energy. Berkshire has been making large investments in wind and solar power forseveral years, but Buffett is now ready to accelerate the pace of these investments. Just a few months ago, the company made the largest land-based wind power purchase ever. It has also invested in various major solar projects, such as ‘Agua Caliente’ project in Arizona.

To continue reading, click here

Image Credit: Flickr via Mark Florence

Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.