Renewable energy

The International Energy Agency (IEA) stated: ‘Current global trends in energy supply and consumption are patently unsustainable — environmentally, economically, socially…It is not an exaggeration to claim that the future of human prosperity depends on how successfully we tackle the two central energy challenges facing us today: securing the supply of reliable and affordable energy; and effecting a rapid transformation to a low-carbon, efficient and environmentally benign system of energy supply'.

 ECP defines ‘Renewable and Alternative Energy’ as renewable non-fossil energy sources (wind, solar, geothermal, wave, tidal, hydropower, biomass, landfill gas, sewage treatment plant gas and biogases) together with some clean coal technologies.

Renewable energy markets have experienced high growth with installed capacity forecast to continue to grow significantly over the next decade. The IEA forecasts US$4.5 trillion of new investment capacity globally by 2035.