The energy reserves of the United States’ existing wind and bioenergy projects equate to around a seventh of the country’s fossil fuel reserves, but have the potential to expand substantially according to a major new analysis.
A study by Bloomberg New Energy Finance (BNEF) has found that the commercial and potentially commercial reserves from wind energy stand at 22 billion barrels of oil equivalent (bboe), while biofuels and biopower boast reserves of 26bboe. Together, the two technologies boast ‘reserves’ that are almost as large as the country’s proved oil reserves.
The BP-sponsored report attempts to highlight the concept of ‘renewable reserves’ and give investors a new way of assessing the value of the clean-energy sector, which has typically been measured using annual capacity and output figures.
Click here to read the full story.
