Investment bank Goldman Sach's has outlined key events necessary for continued growth in the renewable energy sector:
1. More renewable energy standards that require a certain percentage of energy to come from renewable sources. However, Goldman says these policies should be left up to the states to craft standards most suitable for their location.
2. Make sure those renewable energy standards are measurable and enforce them. Tim Kingston, a Goldman managing director, said that "unless you put real teeth into it, the incentives that drive money into that space are not going to be there."
3. Put a price on carbon, for crying out loud (my emphasis). Vehicles include a carbon tax or cap-and-trade policy.
4. "Significantly higher" fossil fuel prices will keep renewable energy red-hot.
5. The 2008 presidential election could be a significant even for renewable energy. The Bush administration has opposed any carbon regulation or renewable energy standards. Inventors in the sector hope to see a more receptive administration soon.