To tackle carbon dioxide emissions we need action in all sectors (heat, transport and power). We have been pursuing 'sustainable mobility' solutions for a number of years. But we believe we can also do more in the power sector.
BP Alternative Energy will use a mix of technologies - solar, wind, hydrogen power and gas-fired power. We have distinct capabilities in each of these technologies which we can bring to bear. And they are technologies that are improving all the time.
The solar market grew by more than 30% last year and - according to the European Photovoltaic Industry Association and Citibank - sales are forecast to continue growing at an average rate of 24% a year between now and 2020. Meanwhile, the International Energy Agency predicts that global installed capacity for wind will grow on average by 10% every year to 2020.
This means that low carbon power solutions are available today for a growing market.