Solar, wind and other sources of renewable energy could double or even quadruple their presence in the United States in the next 10 years, an executive in General Electric’s energy finance unit has said. GE Energy Financial Services Managing Director of the renewable energy group Kevin Walsh said renewables could make up between 5% and 10% of the nation’s energy mix, up from 2.5% currently, in 10 years.
“Biomass and other forms of renewables is 2.5%, so very, very small,” Walsh said. “We are blessed with some of the best wind and solar and biomass resources in the world.” Walsh said wind would make up a large portion of the increase. “Wind is going to be a big part of it,” Walsh said. “Wind is very competitive. We still have quite a bit of wind resources to exploit in this country.” Solar, geothermal and biomass will also make up big portions of the increase in renewables, Walsh added.