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ONYX: Bloomberg Predicts $7 Trillion Mark For Renewable Energy With Latin America As Major Player

Stocks in this article: ONYX

Onyx Service & Solutions, Inc. (OTCQB: ONYX): New figures from Bloomberg New Energy Finance (BNEF) predict that by 2030, global spending on renewable energy installations will have hit $7 trillion.

Bloomberg names the Latin American market one of the big winners over the next 20 years, which bolsters ONYX’s decision to focus efforts in high-cost electrical markets there. ONYX has already been engaged to construct a new 22 megawatt solar power project in Honduras and the Company is actively developing solar power projects in Columbia and Panama as well as solar product distribution arrangements in Peru.

Bloomberg’s "Global Renewable Energy Market Outlook" report, the analysis company’s latest forecasts on the size of the world renewable energy markets out to 2030, shows a steady rise in the value of installed renewable capacity. BNEF predicts doubling from 2010’s record-breaking $195 billion, to $395 billion in 2020, before reaching $460 billion in 2030. By 2030, the report states, 15.7 percent of the world’s energy (including hydropower) will come from renewable sources. The report may be seen at www.bnef.com

According to the report, the flourishing economies of Latin America, the Middle East, Africa and India are set to see growth rates of installed renewable capacity of 10-18 percent a year over the period 2010 to 2020.

According to Guy Turner, director of commodity market research, BNEF, "These results indicate that last year's record renewable energy investment was no one-off despite the recent economic gloom. Big winners over the next 20 years will be the emerging renewable energy hubs in Latin America, Asia, the Middle East and Africa - by 2020 the markets outside of the EU, US, Canada and China will account for 50% of global annual investment in renewable energy capacity."

Onyx Service & Solutions, Inc. acquires, develops and markets the most promising and potentially profitable energy projects and technologies possible. Management has focused on benefitting citizens of Central and South America with energy alternatives to costly power options by achieving multiple business accomplishments there. The Onyx mission is to manifest cutting edge energy technology, products, manufacturing advances and construction projects to successfully compete in a global energy marketplace, which includes GE (NYSE: GE), Trina Solar (NYSE: TSL), First Solar (NASDAQ: FSLR) and JinkoSolar (NYSE: JKS).

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