Oct. 19, 2007 Researchers at Morgan Stanley say that global sales from clean energy sources like wind, solar, and biofuels could hit $1 trillion a year by 2030, Reuters reports.

The banking giant cited exploding populating growth, lower prices for clean energy technologies, and growing concern over energy security and the environment as key drivers.

"The global risks posed by climate change are driving spending and investment in clean energy solutions, which (unlike the oil shock that spawned the first wave of energy solutions in the 1970s) is durable and accelerating," the bank said in its report.

The report forecasted major growth for solar energy in particular, which is expected to benefit from declining costs for equipment like solar panels. Costs for wind technologies, by contrast, are expected to be stay the same. Sales of biofuels like biodiesel could jump from around 1% in 2005 to 21% in 2030, according to the report.

Earlier this week, Deutsche Bank called climate-related technologies such as clean energy an investment "megatrend" that's poised to reshape the market for years to come.