Last week Bill Gates announced that he would be doubling his investment in renewable energy technology initiatives. This brings his investment to a whopping 2 billion dollars.
The Bill and Melinda Gates Foundation is the largest charitable organization in the world and is led by Bill Gates and his wife Melinda. Their investments range from humanitarian efforts to fossil fuels and most recently, renewable energy initiatives.
Gates hopes that this investment will aid in helping significant breakthroughs in technology in the field of renewable energies. At the current rate of growth of renewables it is unclear whether technology can catch up to where it needs to be by 2030.
There are some concerns that although this is a massive investment in renewables, the foundation still has a large amount invested in fossil fuels. According to their tax filing in 2013 they had invested 1.4 billion in fossil fuel companies such as BP.
Gates is also urging the United States to invest more heavily in renewable energy and often compares the need for government support akin to the Apollo program in order to avert a global climate crisis. He also urges the need for a significant breakthrough in technology on a global level in order to avert disaster.
This large investment shows the need for solar and renewable energies for every home, but will the governments of the world listen to the need and aggressively pursue renewable energy?